Notice of EGM
Nanoscience Inc
05 December 2006
Nanoscience Inc.
Notice of Extraordinary General Meeting
Nanoscience Inc. (the 'Company'), the specialist niche investor in emerging
technologies with strong commercial propositions from within the growing
nanotechnology sector, has today posted a circular to its shareholders convening
an extraordinary general meeting of the Company ('EGM'). The purpose of the EGM
is to grant the directors the authority to allot equity securities for cash
without offering those equity securities pro rata to existing shareholders, up
to an aggregate nominal amount of £69,076, representing 15 per cent. of the
Company's issued ordinary share capital as at the date of this announcement.
Nanoscience has made encouraging progress in 2006 with three of its investments
moving towards significant commercial activities. The Company is particularly
pleased that Future Waves has secured a number of purchase orders for 2006 and
that Applied Sensor has signed its first contract with BMW. In addition, Toumaz
Technology Limited is in negotiations with a number of companies to secure
agreements into 2007.
The Board is continually reviewing financing options for the Company and, at
this stage, believes that working capital is best obtained through the issue of
equity rather than commercial bank debt. Accordingly, the EGM is being convened
to grant the Board the authorities necessary to take advantage of market
conditions, as and when they present themselves, to raise working capital
through the fresh issue of equity. The Board considers that it is in the best
interests of the Company and its shareholders generally, that the Company should
have the flexibility conferred by such authorities.
The EGM will be held on 21 December 2006 at 11:00 a.m. GMT (12 noon CET) at 30
Quai Gustave-Ador, 1207, Geneva, Switzerland.
Pursuant to Rule 20 of the AIM Rules, a copy of the circular and notice of EGM
are available for inspection at the Company's registered office at 30 Quai
Gustave-Ador, 1207, Geneva, Switzerland.
Further information:
Richard Rose
Nanoscience
07836 250 474
This information is provided by RNS
The company news service from the London Stock Exchange