23rd Feb 2006 11:27
Castor Investments Plc23 February 2006 Castor Investments plc 23 February 2006 Investment The board of Castor Investments plc ("Castor") is pleased to announce thatCastor has agreed to subscribe for 1,250,000 ordinary shares of 1 pence each("Phynova Shares") in a pre-IPO placing in Phynova Group plc ("Phynova") for atotal consideration of £750,000. The subscription is part of a placing by Phynova of 6,083,333 Phynova Shares andis conditional, inter alia, upon the admission to AIM of the Phynova Sharesexpected on 27 February 2006. On admission Castor will hold approximately 8.45per cent of the share capital of Phynova. Phynova operates as a developer of pharmaceutical drugs mainly derived from medicines applied in clinical use in China to satisfy unmet needs, such as viral diseases, metabolic disease and cancer, in major therapeutic markets. In accordance with the strategy of Castor set out in its AIM admission documentCastor continues to actively seek the acquisition of one or more relatedbusinesses in the UK or Europe in the healthcare/life sciences or supportservices sectors. Enquiries: Castor Investments PlcDavid Barton (Chairman) Tel: 020 7584 9256 Teather & Greenwood LtdStephen Austin/Harry Nicholas Tel: 020 7426 9000 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Mercia Asset