Services

IDMoS plc: Fundraising to raise £2 million before expenses by the issue of 5,714,287 new Ordinary Shares

07 June 2007

IDMoS plc (AIM: IDO), the specialist in disease detection and monitoring technology, today announces the conditional fundraising (the "Fundraising") of £2 million before expenses. The Fundraising consists of the conditional placing of 5,257,145 ordinary shares of 5p each at 35 pence per share (the "Placing") and a conditional subscription (including a subscription by certain of the Directors) for 457,142 ordinary shares in aggregate at 35 pence per share. The new Ordinary Shares to be issued pursuant to the Fundraising, represent approximately 31.1 per cent of the current issued ordinary share capital of the Company. The new Ordinary Shares to be issued pursuant to the Placing have been placed by Nomura Code Securities Limited, on behalf of the Company, with new and existing institutional investors.

The net proceeds of the Fundraising will be used to meet the further funding requirement for the launch of the Company's initial dental products, the CDD ("Caries Detection Device") and the CMSS ("Caries Management Support System"), for which sales for the US and European markets are expected to be made later this year. Following the successful launch of these products, it is intended to progress further the development of the 3D CMSS during 2008.

It is intended to appoint Roger McDowell and Malcolm Gillies as non-executive directors with effect from the board meeting scheduled for 20 June 2007.

The Fundraising is conditional, inter alia, on admission of the new Ordinary Shares to trading on AIM and the approval by shareholders of certain resolutions to be proposed at an Extraordinary General Meeting to be held by the Company on 2 July 2007. A circular will be sent to shareholders shortly together with the notice of EGM.

Application will be made for the new Ordinary Shares to be admitted to trading on AIM and it is expected that trading in the new Ordinary Shares, which will rank from Admission pari passu in all respects with the existing ordinary sharesin the Company, will commence on AIM by 3 July 2007.

It is expected that, following the issue of the new Ordinary Shares, the enlarged share capital of the Company will comprise 24,073,212 ordinary shares of 5p each.

Stephen Westwood, Chief Executive, said:

"I would like to thank all of those investors who are supporting us in this Fundraising. The launch of the initial dental products is a crucial step in our business progression."

For further information, please contact:
IDMoS plc 
Stephen Westwood01382 598440
Buchanan Communications 
Tim Anderson/Isobel Podda020 7466 5000