We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Avid Holdings | LSE:AVD | London | Ordinary Share | GB00B06GHM23 | ORD 0.5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.095 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
AVID HOLDINGS PLC ("AVID OR THE "COMPANY") NEW PRODUCT DEVELOPMENT AND PLACING OF 40 MILLION NEW ORDINARY SHARES AT 0.5P PER SHARE Avid Holdings Plc, is pleased to announce that through its wholly owned subsidiary, Electro-mec (Reading) Limited, it has reached the final development stages for its innovative new product electropac(tm) - an automated in-pharmacy dispenser for daily packed drugs required by the elderly. Currently, the dispensing of monthly drugs for elderly patients requires pharmacists to fill plastic packs by hand, representing unnecessary costs for pharmacies as well as increasing the likelihood of human error. electropac(tm) uses innovative technology that enables the fully automated filling of elderly patient dose packs in the pharmacy. The equipment has been designed to handle a full range of formulated drugs including tablets, capsules, caplets and gels in varying shapes and sizes. In addition to this, Electro-mec's existing vibration tray technology has been adapted to allow each drug configuration to feed individually through seven channels into each day's unit tray. Testing and pharmacist trials are expected to be complete by the end of April, 2008 and UK patent protection has been applied for. The Board is also pleased to announce the Company has today placed 40 million ordinary shares of 0.5p each at 0.5p per share, raising £194,000 (net of expenses) for the Company. The placing was undertaken by Newland Stockbrokers Limited, who have recently been appointed broker to the Company. The funds raised will be used to defray some of the development costs of electropac(tm) and for working capital. David Walton Masters, a director of the Company, has subscribed for 1,100,000 ordinary shares under the placing at 0.5p per share. Following the placing David Walton Masters will be interested in 1,100,000 ordinary shares representing 0.26 per cent. of the enlarged issued share capital of the Company. An application has been made for these new Ordinary Shares to be admitted to trading on AIM and dealings are expected to commence on 10 December 2007. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. Following the placing the issued share capital of the Company is 415,666,665 ordinary shares of 0.5 pence per share. Contact:- Avid Holdings plc Jonathan Bobbett - Chief Executive Tel: 01622 872 022 http://www.avidholdings.co.uk Nominated Adviser to Avid City Financial Associates Limited Ross Andrews Tel: 020 7492 4777 Broker to Avid Newland Stockbrokers Limited Stephen Goschalk Tel: 020 7290 2400 Electro-mec was established in 1969 as a precision engineering contractor. The initial focus was on the repair and refurbishment of blister pack tooling. Subsequently the company used the knowledge and experience gained in the sector to expand its offering to include the manufacture of complete tooling set solutions. Growing demand resulted in the establishment of a dedicated engineering department to handle all blister tooling requirements, which in turn led to the development and launch of the company's pioneering EMF range of tablet and caplet feeders. Electro-mec (Reading) Ltd. was acquired by Avid Holdings Plc in March 2007. Avid Holdings is an AIM listed Investment Company with interests in the pharmaceutical packaging and precision engineering sectors. END
1 Year Avid Chart |
1 Month Avid Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions