Provalis (PVLS) Announces Update On Strategic Review
11/16/2005 12:06:38 PM
Deeside, Flintshire, UK -- (MARKET WIRE) -- 11/16/2005 --
Update on strategic review
Provalis plc (LSE: PRO), the international medical diagnostics and pharmaceuticals group, is today providing an update on its previously announced strategic review. This review was initiated by the interim Chief Executive, Peter Woodford, following his appointment on 10 August 2005.
As part of this review, the Board decided to examine the possibility of selling the pharmaceutical business and to that end advisers have been appointed. To date the Board has received several indicative offers which are currently being progressed.
In the Group's preliminary results released on 19 October, the Board stated that, with regard to the medical diagnostic business, it was still too early to predict future sales of in2itTM, and that more permanent funding would be required in due course to develop the Group.
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