Dermasalve Sciences Share Discussion Threads

[sawbones1] 13/11/2008 16:54

CU next Tuesday s

[turkey3] 13/11/2008 16:53

RNS Number : 1450I

Dermasalve Sciences PLC

13 November 2008

DERMASALVE SCIENCES PLC

("DermaSalve" or the "Company")

INSOLVENCY PROCEEDINGS

Having considered the Company's financial position, the Directors have today resolved that the Company cannot, by reason of its liabilities, continue in business and that it ought to be wound up voluntarily. Accordingly, the Directors have instructed an Insolvency Practitioner to assist with the convening of Meetings of Shareholders and Creditors, pursuant to Section 98 of the Insolvency Act 1986, in order that the Company be placed into Creditors' Voluntary Liquidation. Formal notices will be circulated to all known shareholders and creditors shortly. The notices will provide full details of the time, date and venue of the Meetings. The same course of action is also to be undertaken in respect of the Company's wholly owned subsidiaries, Dermasalve Limited and Healthy and Essential Limited.

This decision by the Directors follows the exhaustive pursuit of many possible sources of financing over recent months. Several debt and equity based options have been pursued as well as third party collaborations and the potential sale of the Company's assets in part and whole. During this time market conditions have been extremely challenging.

Unfortunately none of these initiatives have come to fruition and the Board was forced to seek the appointment of the Insolvency Practitioner. The Board very much regrets this highly unsatisfactory outcome.

The Company has today received notice of the resignation of Hanson Westhouse Limited as nominated adviser and broker with immediate effect. The Company's shares are currently suspended from trading on AIM due to the failure to publish both the annual accounts for the year ended 31 December 2007 in accordance with AIM Rule 19 and the half yearly report for the six months ended 30 June 2008 in accordance with AIM Rule 18. The resignation of the Company's nominated adviser is a further reason for the continuing suspension of trading in the shares. In accordance with AIM Rule 1, if the Company fails to appoint a new nominated adviser within one month, the admission of the Company's shares to trading on AIM will be cancelled at 7.00 a.m. on 15 December 2008.

[willib2] 11/11/2008 18:53

Do doctors need to work overtime now when they can get an increase by just stopping referrals.

[substp] 11/11/2008 16:16

Do you think that Doc Randle might be working overtime at the NHS to help pay the shareholders back the money that he and his supposed honourary board of misfits scammed from them ?

[willib2] 10/11/2008 19:55

Substp.
Too busy making money boyo, dont you just love that VOG (3.50-7.00), but must admit it was a big gamble not selling against the previous increase.
Just in time for the trip (15th).
That dollar rate is a cow though.
Notice you and the geordie have suddenly gone rapport mad.
Will of course be keeping an eye on your antics from afar, especially around the 30th although that is a Sunday.

[substp] 10/11/2008 18:27

Willib , have you left for the "Island of no hopers" ? You're quiet ...... ?

[substp] 08/11/2008 09:11

Interesting ....... Healthy and Essential have had a change on their home page this past week ....... They are now promoting a new product called the "Omega Swirl" ....... Not a fishy smoothie .......:-)



This product was added to our catalog on Tuesday 12 August, 2008.

[substp] 06/11/2008 13:43

Oh noooooo .... a job ??????...... Could be some hope yet Peter ..... :-))

[petersmith6] 06/11/2008 13:41

too true substp, i was hoping it could of been sorted out along time ago.looks looks like the poor Doctors will have to get a proper job......not that could be the momentum they need to sort this mess out!!

[substp] 06/11/2008 12:55

The winners ? ........ The Banks ...... :-(

[petersmith6] 06/11/2008 12:53

there lake of comunication dosnt do them any faviours with investors.

[petersmith6] 06/11/2008 11:02

nope...there still draging it out.

[substp] 05/11/2008 21:46

Isn't this all over yet ?....... :-(

[petersmith6] 05/11/2008 19:26

hey, im out 6 days a week so works fantastick.

[willib2] 05/11/2008 06:58

petersmith6
So the secretaries survived, and you was the fall guy then.

[petersmith6] 04/11/2008 19:50

i thought the company i worked for took there time!!!

[oranges] 04/11/2008 18:08

I thought that we (shareholders) were just waiting for confirmation of excellent sales figures for the cleansing soap, must have sold billioninth bottle now!