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Director´s Declaration
26 November 2008
Phynova Group PLC
("Phynova" or the "Company")
Director´s declaration
The Company announces that it has been advised by John Pool, Executive Chairman of the Company, pursuant to Rule 17 and Schedule 2 (g) sub-paragraph (v) of the AIM Rules, that a provisional liquidator was appointed in respect of Pleiad Group Limited ("Pleiad") on 17 July 2007.
Mr Pool was appointed as a director of Pleiad on 20 September 2005 and resigned as a director on 1 April 2007. A winding up order in respect of Pleiad was made by the Scottish Courts on 10 August 2007. The Company has been informed by Mr Pool that the principal creditor of Pleiad was the bank with which its principal credit facility was held and that this facility was subsequently repaid in full by another group company based in the US.
In addition, Mr Pool was appointed as a director of IDMoS plc ("IDMoS") on 26 August 2004. IDMoS was placed into administration on 16 April 2008. The administration has not yet been concluded and according to the administrator, it is estimated that total ordinary claims will be in the region of £450,000.
For further information, please contact:
Phynova Group PLC
John Pool (Executive Chairman)
Tel: 01993 880700
John East & Partners Limited
John East/Bidhi Bhoma
Tel: 0207 618 2200
Capital MS&L
Mary Clark/Anna Mitchell
Tel: 0207 307 5330
26/11/2008
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