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CADOUX LIMITED — Capital/Financing Update 2009
Mar 30, 2009
64620_rns_2009-03-30_03ced7be-7bd2-4dbe-93dc-d3d71955f606.pdf
Capital/Financing Update
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FREEDOM EYE ALLOWS ITS OPTION TO COMPLETE THE VISTA VISION ACQUISITION TO EXPIRE
SUMMARY
Freedom Eye has decided to allow its option to acquire the Malaysian ophthalmic surgery business VISTA VISION to expire.
Perth, Australia. <31 March 2009> : The Board of Freedom Eye (ASX: FYI) has made a decision to allow the Company’s option over VISTA Vision Malaysia (VISTA) to expire as at 31 March 2009.
The decision to allow the VISTA option to expire is the result of both the continued decline in economic and financial conditions during recent months, as well as a reevaluation of the agreed acquisition price for VISTA in view of current performance of that business. The Board can not recommend an acquisition which is not significantly value-enhancing for FYI shareholders, thus the decision to permit the option to expire.
The Company’s main objective at this point in time is to preserve its cash reserves and to continue to search for a compelling and financeable project. Out-licensing discussions relating to the Coramsine[®] technology platform continue and the Company is currently evaluating several new business opportunities.
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Further Information:
Dr William Ardrey Executive Chairman Tel: (08) 9355 0399 Mob: 0400 544 502 Email: [email protected]
Dr David Sparling Chief Operating Officer Tel: (08) 9355 0399 Mob: 0417 721 972 Email: [email protected]
Unit 9, 8 Sarich Way, BENTLEY 6102 Postal: PO Box 1102 EAST VICTORIA PARK WA 6981 Tel: +61 8 9355 0399 Fax: +61 8 9472 0475 Email: [email protected] Website: www.freedomeye.com