MMG Medical Mktg

 

TIDMMMG 
 
RNS Number : 8826T 
Medical Marketing Int'l Group PLC 
15 June 2009 
 

CORPORATE UPDATE 
 
 
15 June 2009 - Medical Marketing International Group plc ("MMI" or the 
"Company") (AIM:MMG), the life sciences company focused on the development of 
drugs for cancer, today provides an update on the funding position of the 
Company together with various other related announcements. 
 
 
The Company has had further discussions with its advisors and with certain other 
professional organisations that are independent of the Company. In an effort to 
realise value for all stakeholders whilst recognising the currently unresolved 
employment claims of David Best, previously Executive Chairman of the Company, 
the Board of Directors is to significantly reduce the cost base of the business 
whilst: 
  *  continuing to explore potential merger/acquisition opportunities with third 
  parties; 
  *  reviewing the disposal of assets to raise capital; and 
  *  progressing discussions regarding further fundraising. 
 
 
 
In this regard, the Company announces that Chris Banks and James Brenton, both 
Non-executive Directors, have stepped down from the Board with immediate effect. 
The Board would like to thank both Chris and James for their significant and 
valued contributions during their time on the Board. As a result, the 
responsibilities of the Company's Audit, Nomination and Remuneration Committees 
have been assumed by the full Board. 
 
 
The Company also announces that Mark Burton, Chief Technical Officer, will step 
down from the Board at the end of the calendar year, following completion of his 
contractual employment notice period. 
 
 
Finally the Company announces that it has appointed Nabarro LLP as the Company's 
corporate legal advisers. 
 
 
A further update will be made in due course. 
 
 
 
Enquiries: 
 
 
+-----------------------------------------------------+-----------+ 
| Medical Marketing International Group plc           | Tel: +44  | 
| Phil Cartmell, Non-executive Chairman               | (0) 1223  | 
| Rob Sprawson, Chief Financial Officer               | 477 677   | 
| Mark Burton, Chief Technical Officer                |           | 
+-----------------------------------------------------+-----------+ 
|                                                     |           | 
+-----------------------------------------------------+-----------+ 
| FinnCap                                             | Tel: +44  | 
| Charlie Cunningham                                  | (0)20     | 
|                                                     | 7600 1658 | 
+-----------------------------------------------------+-----------+ 
|                                                     |           | 
+-----------------------------------------------------+-----------+ 
| Financial Dynamics                                  | Tel: +44  | 
| Emma Thompson                                       | (0)20     | 
|                                                     | 7831 3113 | 
+-----------------------------------------------------+-----------+ 
 
 
 
 
About MMI 
Medical Marketing International Group plc ("MMI") is a life sciences company 
that identifies, acquires and develops world-class compounds and technologies 
for the treatment of cancer. The Company manages the preclinical and early 
clinical development of drug candidates before pursuing licensing partners to 
manage late-stage development. Please visit www.mmigroup.co.uk for further 
information. 
 
 
Notwithstanding the inclusion on this release by MMI of a website address and/or 
another electronic address, MMI does not accept any notices or any other 
documents or communication via its website or other electronic address. All such 
notices, documents or communication shall be in hard copy format only. 
Accordingly the provisions of section 333 Companies Act 2006 allowing persons to 
communicate with MMI electronically shall not apply to MMI. 
 
 
 
 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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