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2009-06-23 09:01:00 CEST 2009-06-23 08:57:39 CEST REGULATED INFORMATION Inion Oyj - Company AnnouncementFinal Day TradingInion Oy (“Inion” or the “Company”) Final Day Trading Tampere, Finland and Guildford, UK. 23 June 2009, Inion (LSE: IIN.L), a company focused on the development and commercialisation of novel biodegradable medical implants, announces that today is the last day its Ordinary Shares will be listed on the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange's market for listed securities. Inion Ordinary Shares will be cancelled from admission to the Official List effective from 8.00 am on 24 June 2009. The Directors believe that following the Delisting, the Company will be better placed as an unlisted company either (i) to secure potential investors and/or buyers of certain assets in order to raise the necessary funds to execute the business plan, focused on the spinal implant range, or (ii) failing such additional investment/disposals, to facilitate a liquidation of the Company. Chris Lee, Inion's CEO, said: “2009 has been difficult for Inion given the operational progress the Company made during 2008, particularly in the US. We are pleased with the way discussions are progressing across a range of strategic options, which, if they come to fruition, will allow us to refocus on operational activities to build the business. We still face many challenges, but the Directors believe that the increased flexibility of being unlisted positions Inion better to progress these discussions to a satisfactory conclusion for our shareholders.” From 24 June, investors will be able to receive news and information about Inion from the Company's website www.inion.com and can register for news updates to be sent directly by email by contacting info@inion.com. - Ends - For further information, please contact: -------------------------------------------------------------------------------- | Inion Oy | Tel: +44 (0)1483 685390 | | Chris Lee, Chief Executive Officer | | | Julien Cotta, Chief Financial Officer | | -------------------------------------------------------------------------------- | Citigate Dewe Rogerson | Tel: +44 (0)207 638 9571 | | Mark Swallow / David Dible / Helena Galilee | | -------------------------------------------------------------------------------- About Inion (www.inion.com) Inion Oy is a medical devices company focused on the development and successful commercialisation of innovative and unique biodegradable and bioactive surgical implants in selected high value orthopaedic market segments. Inion's core expertise and technology lies in the design and manufacture of innovative biodegradable plates, screws, pins and membranes, which are used to enhance the healing of bone or soft tissue injuries to the skeleton, such as those caused by trauma or by reconstructive surgery. Inion implants are made from its proprietary Inion Optima™ family of biomaterials, with properties tailored for specific surgical applications, in terms of strength, flexibility and rate of degradation Inion is also focused on developing proprietary new bioactive and biodegradable biomaterials that promote bone healing and accelerate patient rehabilitation. Inion was incorporated in early 2000 and listed on the Official List of the UK Listing Authority in December 2004 (ticker: IIN). The Company has offices in the UK and USA, and its head office, R&D and production facilities are in Tampere, Finland. This announcement includes "forward-looking statements" which include all statements other than statements of historical facts, including, without limitation, those regarding the Group's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Group's products), and any statements preceded by, followed by or that include forward-looking terminology such as the words "targets", "believes", "estimates", "expects", "aims", "intends", "will", "can", "may", "anticipates", "would", "should", "could" or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Group's control that could cause the actual results, performance or achievements of the Group to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Group's present and future business strategies and the environment in which the Group will operate in the future. Among the important factors that could cause the Group's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to Inion's funding requirements, regulatory approvals, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Group expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Group's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statement. |
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