Print   



 

IncaGold plc (the 'Company')

 

Statment re Share Price Movement and Trading Statement

 

The Board has noticed the recent increase in the Company's share price and can confirm that the Company is not aware of any unusual reason for this share price movement.

 

The Board, however, take this opportunity to provide an update on events since 31 October 2008, when shareholders approved a change in the scope of the Company's activities to allow it to consider opportunities within the cosmetic surgery insurance arena.

 

Following this approval from shareholders, the Directors commenced talks with a U.K. based insurance underwriter operating in the healthcare arena. These talks have recently been terminated by the Board, which has now instigated discussions, with a second insurance underwriter with European wide coverage that remain ongoing. 

 

In Europe, the market for cosmetic surgery alone is estimated to be worth about US$2.2 billion with a growth rate of 19% per annum (source: Frost & Sullivan). Cosmetic surgery procedures are not generally covered by current healthcare insurance products and the Board remains committed to pursuing opportunities to launch specialised cosmetic surgery insurance products that seek to provide the patient with financial protection against some of the consequences of a range of possible complications of a wide variety of cosmetic surgery procedures going wrong. 

 

Late last year, the Company also made application to the Financial Services Authority to be authorised and regulated to carry on general insurance business and this application process continues.

 

The Company continues to operate in the publication of mass-market computer games, entertainment and the like within the Company's wholly owned subsidiary IncaGold GmbH based in Switzerland and will update the market separately on this business activity.  

 

The Board will make further announcements in due course.

Contact:

IncaGold plc   

Justin Martin, Director  

Tel: +44(0)1624 820040   

 Website: www.incagoldplc.com

   

Zeus Capital plc

Ross Andrews

Tom Rowley   

Tel:   +44(0)161 8311512   

Website:  www.zeuscapital.co.uk

ENDSPMUKUSRKNRAUAR