22 November 2010 -- 3D Diagnostic Imaging, which owns the protected rights to a technology platform with a number of significant potential commercial applications, is pleased to announce dealings in the Group’s shares will commence at 8am today. The Group’s ticker symbol will be 3DD.
Highlights
- The market capitalisation of 3D Diagnostic Imaging at the Placing Price is approximately £10.23 million.
- £2.71 million (before expenses) were raised by way of a placing of 45,248,318 Placing Shares at 6 pence per share with existing and new investors.
- The net proceeds of the Placing will allow the Company to finance its immediate planned future growth.
- The Group’s subsidiary, CarieScan is now launching the Company’s first commercial product, the CarieScan PRO (“PRO”), an easy to use, highly accurate handheld device for the early detection and monitoring of dental caries (tooth decay).
- CarieScan will expand its operations and invest, both in additional tooling to increase its manufacturing capacity, and in the process of designing down the cost of manufacturing PRO sensors.
- Within the dentistry market, the Company’s primary focus is on achieving wide-scale adoption of the PRO by dental practitioners in the USA and in Canada and has already partnered with leading dental distributor, Patterson Dental to achieve adoption in these substantial markets, with several orders having already been shipped.
- The Group’s ultimate objective is to develop, market and commercialise a series of products based on its technology with a range of different applications, such as the early detection of osteoporosis, or of malignant melanomas, the state of health monitoring of battery systems for electric vehicles or early detection of corrosion within building materials.
- finnCap is Nominated Adviser and Broker to the Company.
On announcement of the Admission to AIM, James Noble, Chairman commented: “We are delighted to commence trading on AIM this morning. 3D has transformed itself over the last year and has reached an exciting stage in its development where the Board considers that its strategic objectives can be more readily achieved by a listing on AIM.
We believe that our first product to market, the CarieScan PRO has the ability to transform dental care. We have shipped our first orders to Patterson Dental, who we recently appointed to distribute the PRO in the USA and Canada and, with the proceeds from the placing we are now proceeding to scale-up manufacture of the PRO to target these substantial markets fully. We look forward to reporting further progress in the years ahead.”
For further information please contact: 3D Diagnostic Imaging Plc Graham Lay, CEO +44 (0) 1624 679 000 Oliver Cooke, CFO +44 (0) 1624 679 000
finnCap: NOMAD & Broker Geoff Nash, Henrik Persson (corporate finance) Stephen Norcross (corporate broking) +44 (0)20 7600 1658
Buchanan Communications Diane Stewart, Carrie Clement +44 (0) 207 466 5000 / 0777 193 6674
