ASX Re-Listing and Market Update


 

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RNS Number : 3420B 
Medic Vision Limited 
26 October 2009 
 
 
Medic Vision Limited 
("Medic Vision" or the "Company") 
 
ASX Re-Listing and Market Update 
 
Melbourne, 26 October 2009 
 
ASX Re-Listing 
Medic Vision is pleased to announce that after submitting its Annual Audited 
Financial Accounts and its Independent Auditor's Review Report, prepared by the 
Company's auditor PKF Chartered Accountants & Business Advisers, to the 
Australian Stock Exchange (ASX), the ASX has advised that Medic Vision's 
securities will be reinstated on the ASX on 27 October 2009. 
The Company's directors (the "Directors") are of the opinion that the Company is 
a going concern; that the Company's Annual Report complies with the relevant 
Accounting Standards and gives a true and fair view of the financial performance 
of the Company; that the recent Capital Raising has provided sufficient cash to 
fund its activities and operations for the next twelve months; and that the 
Company is in compliance with ASX Listing Rules and, in particular, ASX Listing 
Rules 3.1 and 12.2. 
 
Update re Potential Acquisitions 
 
The board of the Company (the "Board") has been actively seeking ways to expand 
the Company's business whilst being prudent with the Company's capital 
structure. As a result, the Company has recently signed two Heads of Agreements 
as set out below: 
 
  *  Heads of Agreement to purchase 100% of an innovative direct sales, marketing and 
  communications business, which will provide Medic Vision with low cost sales, 
  marketing and support functions globally. The Directors believe that the 
  business can also assist Medic Vision with services to medical skills centres in 
  relation to scheduling of courses, co-ordination of enrolments, organising 
  course payments, following up with satisfaction surveys and ensuring relevant 
  courses are presented to relevant medical professionals as they become available 
  (i.e. targeted marketing campaigns to maximise skills centre utilisation). The 
  business is currently cashflow positive. 
 
  *  Heads of Agreement to purchase 51% of a business which the Directors believe is 
  complimentary to its Red Paragon Pty Ltd subsidiary. 
 
 
The Company is currently conducting due diligence on the potential acquisitions 
and will make a further announcement in relation to the acquisitions in due 
course.  Subject to satisfactory due diligence, the Directors will be targeting 
completion of these acquisitions within the next 90 days. The Board would also 
like to confirm that the proposed transactions are with independent parties. 
 
The Board wishes to thank shareholders for their patience and support whilst the 
Company was suspended on ASX. 
 
For further information contact: 
 
+--------------------------------------+---------------------------------------+ 
| Vince Leone                          | Email: vince.leone@medicvision.com.au | 
| Chief Executive Officer & President  |                  Mob: +61 421 054 140 | 
| Medic Vision                         |                                       | 
+--------------------------------------+---------------------------------------+ 
| Stuart Faulkner / David Altberg      |                 Tel: +44 20 7409 3494 | 
| Strand Hanson Limited                |                                       | 
+--------------------------------------+---------------------------------------+ 
| Ruari McGirr                         |                 Tel: +44 20 7628 5582 | 
| Astaire Group Plc                    |                                       | 
+--------------------------------------+---------------------------------------+ 
 
Background on Medic Vision Limited 
Medic Vision is a technology based company specialising in the application of 
technology for surgical and medical skills training. Medic Vision provides 
consulting services in the development of skills training centres as well as 
developing and deploying computer-based surgical and medical high fidelity 
simulators. 
See www.medicvision.com.au for more details 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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