Board Changes and Financing Update

Ultrasis plc

("Ultrasis" or the "Company")

Board Changes and Financing Update

The Company announces that Gerald Malone and Michael Mills, who have been non-executive directors for 14 and 11 years respectively, have resigned with immediate effect. The Board thanks them for their years of service and valuable input.

John Smith, CEO, will become interim Executive Chairman following Gerald Malone's departure and the Company will now seek an alternative Chairman and non-executive director to provide an appropriate board structure. 

As initially announced on 29 January 2013, the Company has loan facilities in place with Paul Bell, a substantial shareholder in the Company, of which approximately £700,000 was undrawn at the end of September 2014. Under the terms of the loan facilities, the Company is entitled to draw down funds to a maximum amount of £1 million in any rolling 12 month period, a limit the Company has already reached, However, Mr. Bell has recently written to the Company stating that he is prepared to continue to consider on-going requests for draw-downs under the loan facilities which are in excess of the rolling limit, subject to, inter alia, a review of the Company's short and medium term working capital requirements and the Board seeking cancellation of the Company's shares to trading on AIM.

Consequently, the Board intends shortly to send a circular to shareholders seeking the cancellation of the Company's shares to trading on AIM. Further announcements will be made in due course.

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Notes to Editors:

Ultrasis is a healthcare company with core expertise in health, psychology, software development and programme management. We deliver a range of healthcare products to the consumer, the NHS, the corporate sector and other healthcare providers in the UK and Internationally. Ultrasis was the first company to offer computerised products based on Cognitive Behavioural Therapy (CBT) and interactive multimedia, and is still the world leader in this field.