AGM Statement
Embargoed Release: 0700hrs, 6 September 2006
Nanoscience Inc.
(`Nanoscience' or the `Group')
AGM Statement
At the Annual General Meeting of Nanoscience Inc. being held today, the Group's
Chairman will make the following statement to the meeting:
"I am pleased to be able to report to our shareholders that the Group's
forthcoming interim results for the six months to 30 June 2006 will be in line
with your Board's expectations and we have continued to deliver further
progress in all aspects of our business. Nanoscience continues to establish a
robust track record in its ability to identify niche investment opportunities
with the potential for substantial growth. Our focus on supporting emerging
technologies with strong commercial propositions is enabling us to add further
value to our investee companies in the form of managerial guidance.
Throughout the interim period there has been a positive maturing and
strengthening of our portfolio. Our investment in Future Waves was announced in
March and the company subsequently achieved early successes in winning
`design-ins' for its Fenix 1 chip in the Far East, with a positive reception
from manufacturers of MP3, GPS and multimedia systems.
The ongoing testing of Toumaz's Sensium chip continues to demonstrate better
than expected results. Significant customer interest in this product continues
to build and your Board remains confident that the trials currently being
undertaken by these potential customers will ultimately be converted into
commercial transactions.
AppliedSensor, the Group's first investment, has successfully completed product
testing within the automotive industry and orders have been received from two
key leading manufacturers. A first production order has also been received from
a leading supplier in the indoor air quality control sector.
The aforementioned developments demonstrate the fast evolution of the investee
companies within the Group's portfolio and the real opportunity to deliver
enhanced shareholder value through our strategy of making investments in
emerging technologies where we can add value in the commercialisation process.
Financially, Nanoscience remains on track with regard to its cash utilization,
which is in line with our 2006 budget, and we remain confident about the future
potential of the Group.
The hard work, dedication and enthusiasm shown by employees in all our investee
companies is moving our portfolio forwards at the pace we would expect, and we
thank them for their efforts."
-Ends-
Further Information:
Richard Rose Nanoscience 07836 250 474
Ben Simons Hansard Communications 020 7245 1100