06 Nov 2019 – Destiny Pharma to present at the World Anti‐Microbial Resistance Congress 2019

Destiny Pharma plc
(“Destiny Pharma” or “the Company”)

Destiny Pharma to present at the World Anti‐Microbial Resistance Congress 2019

Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel anti‐microbial drugs that address clear commercial opportunities and also address the global problem of anti‐microbial resistance (AMR), announces that Neil Clark, Chief Executive Officer of Destiny Pharma, will present on the potential of the Company’s XF Drugs to address the threat of AMR at the World Anti‐Microbial Resistance Congress on 7‐8 November, 2019 in Washington D.C, US.

About World Anti‐Microbial Resistance Congress
The World Anti‐Microbial Resistance Congress has been the only commercially focused conference globally of its kind, since 2015. Launched during the release of key reports such as the AMR Review and a Scientific Roadmap for Antibiotic Discovery, the World AMR Congress has brought attention to the threats of this emerging crisis to the global healthcare system. This AMR focused event attracts 200 speakers and over 600 attendees from over 40 countries.

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Nominated Advisor Joint Broker)
Geoff Nash /Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0) 203 705 9330

About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development and commercialisation of novel medicines from its XF Platform that represent a new approach to the treatment of infectious disease. The company’s lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post‐surgical hospital infections including MRSA. The XF drug candidates are being developed for the prevention and treatment of life‐threatening infections caused by antibiotic‐resistant bacteria, often referred to as “superbugs”. Tackling anti‐microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

About XF‐73
XF‐73 is a synthetic anti‐microbial active against all tested Staphylococcus aureus strains, including drug‑resistant strains. By acting via a cell‐surface mechanism it affects the bacterial membrane permeability and integrity, leading to cell death. XF‐73 has already been through seven successful Phase I/II clinical trials showing it is safe and delivers a rapid antibacterial action. In standard microbiology studies XF drugs have demonstrated a unique no/low resistance profile that means that XF compounds have the potential to deliver novel drugs that are clearly differentiated from traditional antibiotics where resistance limits their utility. XF‐73 is being studies for the prevention of post‐surgical staphylococcal infections. In the US, there are approximately 40 million surgeries per annum alone where the patient is at risk of a post‐surgical infection. However, within this large population there are particular groups who are at an even higher risk of infection due to the nature of their surgery or the procedures and/or their specific hospital environment in which they are treated. These higher risk surgical procedures include cardiovascular, orthopaedic and other complex surgeries. Destiny Pharma estimates that this totals approximately 14 million US surgeries per year, with this figure set to rise within the context of an ageing population.

16 Oct 2019 – Positive Phase 1 results published in journal

Destiny Pharma plc
(“Destiny Pharma” or the “Company”)

Positive results published from an independent (US National Institute of Health) XF-73 phase 1 clinical trial in a peer reviewed journal


The publication in the Journal of Global Antimicrobial Resistance concluded that application of a nasal gel formulation of XF-73 in healthy volunteers was safe, well tolerated and generated minimal side effects

Treatment with XF-73 was also associated with a rapid reduction in nasal Staphylococcus aureus in all subjects; nasal carriage of the bacteria is the source of the majority of post-surgical bacterial infections

The same nasal formulation is being used in the Company’s phase 2b trial assessing the microbiological effect of XF-73 on nasal S. aureus in patients scheduled for cardiac surgery and at high risk of post-operative S.aureus/MRSA infection; headline results continue to be expected in mid-2020
 

Brighton, United Kingdom – 16 October 2019 Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel antimicrobial drugs that address clear commercial opportunities and also address the global problem of antimicrobial resistance (AMR), notes the publication of results from a positive phase 1 clinical study in 60 healthy US volunteers using a nasal gel formulation of its lead drug, XF-73 (exeporfinium chloride), in the peer reviewed Journal of Global Antimicrobial Resistance [Yendewa GA, Griffiss JM, Jacobs MR et al; J. Glob. Antimicrob. Resist. 2019 Oct 7. pii: S2213-7165(19)30250-4. doi: 10.1016/j.jgar.2019.09.017]. The headline results from this study were previously announced by Destiny Pharma on 5 September 2016.

The reported US study was independently conducted and sponsored by the National Institute of Allergy and Infectious Diseases, part of the US National Institutes of Health (NIH). In addition to the study reporting a favourable safety and local tolerability profile of the nasal gel formulation (the primary objective), the study also noted, as expected, that exposure to XF-73 produced a rapid reduction in levels of nasal S. aureus in all subjects.

Destiny Pharma is initially developing a nasal gel formulation of XF-73 as a novel therapy to prevent post-surgical infection, including those from methicillin resistant S. aureus (MRSA), as nasal carriage is the source of >80% of S.aureus/MRSA post-surgical bacterial infections. The Company is currently conducting a 200 patient multi-centre, randomised, blinded, placebo-controlled phase 2b study of a single concentration of XF-73 nasal gel. This is to assess the anti-staphylococcal effect of XF-73 on S. aureus nasal carriage in US and European patients scheduled for cardiac surgical procedures deemed to be at high risk of post-operative S. aureus infection. Headline results from the trial are anticipated in mid-2020.

Neil Clark, CEO of Destiny Pharma, commented:
“The full results from this positive phase 1 clinical study, independently conducted and sponsored by the NIH, underscores our confidence in the potential of XF-73 as a novel treatment to prevent the occurrence of post-surgical S. aureus bacterial infections which is a significant commercial opportunity. Importantly, there is no evidence to date suggesting that XF-73 causes bacterial resistance which is in contrast to current preventative treatments such as the application of the antibiotic mupirocin, which the use of is increasingly blunted by the rising incidence of resistant strains of S. aureus. We look forward to reporting headline data in mid-2020 from our ongoing 200 patient phase 2b trial that is assessing the ability of XF-73 to reduce nasal levels of S. aureus in patients at high risk of infection that are undergoing surgery.”

Abstract in full
Yendewa GA, Griffiss JM, Jacobs MR etc al; J. Glob. Antimicrob. Resist. 2019 Oct 7. pii: S2213-7165(19)30250-4. doi: 10.1016/j.jgar.2019.09.017

OBJECTIVES:
There is conflicting data on the success of mupirocin as an effective decolonizing regimen for Staphylococcus aureus (SA) carriage, in part due to increasing drug resistance. This multi-center, randomized, open-label, prospective phase 1 study compared the safety and local tolerability of two nasal formulations of XF-73, a novel porphyrinic antibacterial drug with rapid intrinsic activity against SA.

METHODS:
The study was conducted in 2 dosing cohorts and enrolled 60 healthy adults. In Part 1, 8 non-SA carriers were randomized to 2 groups of 4 subjects in each arm and were treated with the new formulations of XF-73 in concentrations of 0.5 mg/g 2% gel and 2 mg/g 2% gel, respectively. In Part 2, 52 healthy persistent SA carriers were randomized to 4 groups of 13 subjects in each arm and were treated with three different concentrations of XF-73 (0.5 mg/g 2% gel, 2 mg/g 2% gel and 0.5 mg/g 4% gel) or a 4% viscosified placebo gel, respectively. Plasma pharmacokinetics (PK) and pharmacodynamics (PD) studies were performed. Anti-staphylococcal activity was assessed as the presence or absence of SA and by quantification of the level of colonization using a semi-quantitative scale (SA score).

RESULTS:
56 subjects (8/8 from Part 1 and 48/52 from Part 2) completed the study, with 47/60 comprising the PK population and 48/60 the PD population. There was no measurable systemic absorption of XF-73 from nasal application. Treatment with XF-73 was associated with a rapid diminution in the SA scores in all subjects. The most common treatment emergent adverse events (TEAE) reported were rhinorrhea and nasal dryness (15.5% each in Part 1 and Part 2). TEAEs were mostly mild and resolved spontaneously.

CONCLUSION:
XF-73 was found to be safe and was tolerated with minimal side effects at doses of 0.5 mg/g 2% gel and 2 mg/g 2% gel in healthy volunteers. These findings support moving on to Phase 2 trials to further evaluate the efficacy of XF-73.

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Nominated Adviser and Joint Broker)
Geoff Nash /Anthony Adams, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0)20 3705 9321

About Destiny Pharma
Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development and commercialisation of novel medicines from its XF Platform that represent a new approach to the treatment of infectious disease. The company’s lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post-surgical hospital infections including MRSA. The XF drug candidates are being developed for the prevention and treatment of life-threatening infections caused by antibiotic‑resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

23 Sep 2019 – Directorate change

Destiny Pharma plc
(“Destiny Pharma” or “the Company”)

Directorate change

Brighton, United Kingdom – 23 September 2019 – Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel antimicrobial drugs to address the global crisis caused by antimicrobial resistance (AMR), today announces that after 18 years on the Board, Joe Eagle a Non-Executive Director,  has decided to step down from the Board with effect from today. Joe was instrumental in the financing and strategic direction of Destiny as a private company and brought both pharmaceutical and marketing expertise to the development of the lead candidate, XF-73 for the prevention of post-surgical infections. A search for a replacement is underway.

Nick Rodgers, Chairman of Destiny Pharma, commented:

“On behalf of Destiny Pharma, I would like to thank Joe for his considerable contribution to the Company throughout its development as a private company and the transition onto the AIM market. Joe’s understanding of the pharma market and company development has been of great value to Destiny and I am sorry to see him go. We wish him all the very best for the future” .

Joe Eagle, Non-Executive Director, commented:

“I continue to believe that Destiny Pharma, through its XF platform, will develop unique and life-saving antimicrobials to counter the worldwide threat of antimicrobial resistance. I have seen the development of the Company from a small private enterprise to a successful, asset rich public company and wish all the members of the company every success with their future endeavours. It has been a privilege to work with you all.”

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Nominated Advisor Joint Broker)
Geoff Nash /Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0) 203 705 9330

About Destiny Pharma

Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel medicines from its XF Platform that represent a new approach to the treatment of infectious disease. The company’s lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post-surgical hospital infections including MRSA. The XF drug candidates are being developed for the prevention and treatment of life-threatening infections caused by antibiotic‑resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

10 Sep 2019 – Destiny Pharma awarded grant to fund a research collaboration with the University of Sheffield targeting ophthalmic bacterial and fungal infections

Destiny Pharma plc

(“Destiny Pharma” or “the company”)

Destiny Pharma awarded grant to fund a research collaboration with the University of Sheffield targeting ophthalmic bacterial and fungal infections

Collaboration to investigate antimicrobial candidates from the company’s XF drug platform against microbial infections of the eye

 Marks the fourth research grant Destiny Pharma has received in the past two years

Brighton, United Kingdom – 10 September 2019 – Destiny Pharma plc (AIM: DEST), a clinical stage biotechnology company focused on the development of novel antimicrobial drugs to address the global crisis caused by antimicrobial resistance (AMR), today announces it has been jointly awarded a National Biofilms Innovation Centre (NBIC) grant to fund a research collaboration with the Sheffield Centre for Antimicrobial Resistance and Biofilms at the University of Sheffield. The project aims to establish the potential of two of the Company’s proprietary XF drug compounds, DPD-207 and XF-73, as novel treatments for drug-resistant, bacterial and fungal infections in a dynamic ex vivo eye model. NBIC’s stated aim is to establish a network of research and innovation capacity catalysing collaboration with industry in the study of biofilms to achieve breakthrough and innovation. Financial terms of the collaboration have not been disclosed.

Drug resistant bacteria and fungi pose a significant threat across a range of ophthalmic infections and can result in vision impairment and blindness. Many chronic eye infections, such as bacterial keratitis and lacrimal/periorbital infections, are caused by microbes aggregating to form a biofilm. These biofilms are difficult to treat with conventional antibiotics, a problem which is exacerbated by the rise of AMR. Destiny Pharma’s XF drugs have already demonstrated efficacy in killing bacteria located in biofilms in early clinical studies.

The global ophthalmic drugs market size is currently valued at approximately $30 billion. A significant proportion of this market is therapeutics for ocular infections, which the Company estimates to be worth over $1 billion.

Neil Clark, Chief Executive Officer of Destiny Pharma, added:

We are excited to collaborate with the expert team at the University of Sheffield as we look to initiate our second research project in biofilms supported by the National Biofilms Innovation Centre. The project will explore the utility of our novel XF drug platform in the treatment of eye infections involving biofilms. Biofilms represent a significant barrier to antimicrobial treatment and this collaboration may help us identify additional clinical candidates for ocular indications in a billion-dollar market that are safe, effective and with a significantly reduced level of antimicrobial resistance. The project in part will further explore the potential of our lead drug, XF-73, which is also currently in Phase IIb clinical development for the prevention of post-surgical infections.”

Professor Peter Monk, Professor in the Department of Infection, Immunity and Cardiovascular Disease at Sheffield University Medical School, commented:

The Sheffield Centre for Antimicrobial Resistance and Biofilms (SCARAB) was established in 2017 using funding from Innovate UK to support the development of new antimicrobial agents to treat severe infections. The partnership with NBIC and Destiny Pharma allows us to test new compounds against biofilms growing in living tissues.

 

For further information, please contact:

Destiny Pharma plc

Neil Clark, CEO

Shaun Claydon, CFO

pressoffice@destinypharma.com

+44 (0)1273 704 440

FTI Consulting

Simon Conway / Victoria Foster Mitchell

destinypharma@fticonsulting.com

+44 (0) 20 3727 1000

finnCap Ltd (Nominated Advisor Joint Broker)

Geoff Nash /Kate Bannatyne, Corporate Finance

Alice Lane, Corporate Broking

+44 (0)20 7220 0500

WG Partners (Joint Broker)

Nigel Barnes / Claes Spång / Nigel Birks

+44 (0) 203 705 9330

About Destiny Pharma

Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel medicines from its XF Platform that represent a new approach to the treatment of infectious disease. The company’s lead programme is undergoing a Phase 2b clinical trial and is targeting the prevention of post-surgical hospital infections including MRSA. The XF drug candidates are being developed for the prevention and treatment of life-threatening infections caused by antibiotic‑resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

About DPD-207 and XF-73

XF drug candidates, including DPD-207 and XF-73, are synthetic anti-microbial drugs that have demonstrated a unique no/low resistance profile against many drug resistant strains. By acting via a cell-surface mechanism, they affect bacterial membrane permeability and integrity, leading to rapid cell death. Destiny Pharma therefore believes the XF platform has the potential to deliver novel drugs that are clearly differentiated from traditional antibiotics where resistance limits their utility.

XF-73 has been through seven successful Phase I/IIa clinical trials, demonstrating safety and efficacy in delivering a rapid antibacterial action. XF-73 is currently in a Phase IIb clinical trial for the prevention of post-surgical staphylococcal infections. In the US alone, there are approximately 40 million surgeries per annum where the patient is at risk of a post-surgical infection. However, within this large population there are particular groups who are at an even higher risk of infection predominately due to the nature of their surgery or procedure. These higher risk surgical procedures include cardiovascular, orthopaedic and other complex surgeries. Destiny Pharma estimates that this totals approximately 14 million US surgeries per year, with this figure set to rise within the context of an ageing population and is an opportunity with one billion-dollar peak sales.

DPD-207 differs in structure from XF-73 and has been chemically designed to carry an iron atom within the central porphyrin structure. This chemical modification has been made to potentially enhance the drug’s physico-chemical profile for ocular administration.

About National Biofilms Innovation Centre (NBIC)

NBIC is the central hub where academia, industry, government, and public policy come together to tackle the global challenges biofilms present, through a forward-thinking, collaborative and interdisciplinary approach. Funded by the Biotechnology and Biological Sciences Research Council (BBSRC), Innovate UK and Hartree Centre, our mission is to establish a network of research and innovation capacity in order to catalyse partnerships with industry in the study of biofilms to achieve breakthrough innovations and impact – from industry products and solutions to services and spinouts. The four core partners are the University of Southampton, the University of Edinburgh, the University of Liverpool and the University of Nottingham. They have now been joined by an additional 27 universities and over 60 industry partners in the aim to prevent, detect, manage and engineer solutions in biofilms.

The University of Sheffield

With almost 29,000 of the brightest students from over 140 countries, learning alongside over 1,200 of the best academics from across the globe, the University of Sheffield is one of the world’s leading universities. A member of the UK’s prestigious Russell Group of leading research-led institutions, Sheffield offers world-class teaching and research excellence across a wide range of disciplines. Unified by the power of discovery and understanding, staff and students at the university are committed to finding new ways to transform the world we live in. Sheffield is the only university to feature in The Sunday Times 100 Best Not-For-Profit Organisations to Work For 2018 and for the last eight years has been ranked in the top five UK universities for Student Satisfaction by Times Higher Education. Sheffield has six Nobel Prize winners among former staff and students and its alumni go on to hold positions of great responsibility and influence all over the world, making significant contributions in their chosen fields. Global research partners and clients include Boeing, Rolls-Royce, Unilever, AstraZeneca, Glaxo SmithKline, Siemens and Airbus, as well as many UK and overseas government agencies and charitable foundations.

05 Aug 2019 – Destiny Pharma welcomes the US government’s healthcare reform for novel antibacterial drug payments

Destiny Pharma welcomes the US government’s healthcare reform for novel antibacterial drug payments which include an alternative pathway for New Technology Add-On Payments (NTAPs) which increases the value of these payments to 75% for Qualified Infectious Disease Products (QIDPs).  This, combined with the UK government 2019 initiative, represents tangible progress to incentivise and reward the developers of novel anti-infectives such as Destiny Pharma.

https://lnkd.in/dYud9ub

 

31 Jul 2019 – Destiny Pharma to present at the 2019 Gordon Research Conference – 4-9 August 2019

Destiny Pharma plc

(“Destiny Pharma” or “the Company”)

 Destiny Pharma to present at the 2019 Gordon Research Conference

Brighton, United Kingdom – 31 July 2019 – Destiny Pharma (AIM: DEST), a clinical stage biotechnology company focused on the development of novel anti-microbial drugs which address the global problem of anti-microbial resistance (AMR), announces that Dr Jesus Gonzalez, Chief Medical Officer of Destiny Pharma, has been invited to present on the clinical potential of the Company’s lead asset, XF-73, in the prevention of post-operative Staphylococcal infections at the prestigious Gordon Research Conference (GRC), on staphylococcal diseases, on 4-9 August, 2019 in Castelldefels, Spain.

XF-73 is the Company’s lead candidate for the prevention of post-surgical staphylococcal infections. It is currently in Phase 2b clinical development as a nasal gel formulation to eradicate the bacteria Staphylococcus aureus, including Methicillin-resistant Staphylococcus aureus (MRSA), that are a common cause of potentially lethal post-surgical infections.

About Gordon Research Conference

The first GRC took place at Johns Hopkins University, Baltimore in 1931. The meeting was convened by Professor Neil E. Gordon, who’s interest was to bring together a group of scientists working at the frontier of research of a particular area to discuss, in depth, all aspects of the most recent advances in the field and to stimulate new directions for research. GRC continues this tradition of fostering scientific communities that focus on the latest, unpublished research at the frontiers of the field. GRC now holds more than 100 meetings each year in the USA, Italy, Switzerland, Spain and Hong Kong.

For further information, please contact:

Destiny Pharma plc
Neil Clark, CEO
Shaun Claydon, CFO
pressoffice@destinypharma.com
+44 (0)1273 704 440

FTI Consulting
Simon Conway / Victoria Foster Mitchell
destinypharma@fticonsulting.com
+44 (0) 20 3727 1000

finnCap Ltd (Nominated Advisor Joint Broker)
Geoff Nash /Kate Bannatyne, Corporate Finance
Alice Lane, Corporate Broking
+44 (0)20 7220 0500

WG Partners (Joint Broker)
Nigel Barnes / Claes Spång / Nigel Birks
+44 (0) 203 705 9330

About Destiny Pharma

Destiny Pharma is an established, clinical stage, innovative biotechnology company focused on the development of novel medicines that represent a new approach to the treatment of infectious disease. These potential new medicines are being developed to address the need for new drugs for the prevention and treatment of life-threatening infections caused by antibiotic-resistant bacteria, often referred to as “superbugs”. Tackling anti-microbial resistance has become a global imperative recognised by the World Health Organisation (WHO) and the United Nations, as well as the G7 and the G20 countries. For further information, please visit https://www.destinypharma.com

About XF-73

XF-73 is a synthetic anti-microbial active against all tested Staphylococcus aureus strains, including drug resistant strains. By acting via a cell-surface mechanism it affects the bacterial membrane permeability and integrity, leading to cell death. XF-73 has already been through five successful Phase I/IIb clinical trials showing rapid antibacterial action. In standard microbiology studies XF drugs have demonstrated a unique no/low resistance profile that means that XF compounds have the potential to deliver novel drugs that are clearly differentiated from traditional antibiotics where resistance limits their utility.

XF-73 is being studies for the prevention of post-surgical staphylococcal infections. In the US, there are approximately 40 million surgeries per annum alone where the patient is at risk of a post-surgical infection. However, within this large population there are particular groups who are at an even higher risk of infection due to the nature of their surgery or the procedures and/or their specific hospital environment in which they are treated. These higher risk surgical procedures include cardiovascular, orthopaedic and other complex surgeries. Destiny Pharma estimates that this totals approximately 14 million US surgeries per year, with this figure set to rise within the context of an ageing population.

Forward looking statements

Certain information contained in this announcement, including any information as to the Group’s strategy, plans or future financial or operating performance, constitutes “forward-looking statements”. These forward looking statements may be identified by the use of forward-looking terminology, including the terms “believes”, “estimates”, “anticipates”, “projects”, “expects”, “intends”, “aims”, “plans”, “predicts”, “may”, “will”, “seeks” “could” “targets” “assumes” “positioned” or “should” or, in each case, their negative or other variations or comparable terminology, or by discussions of strategy, plans, objectives, goals, future events or intentions. These forward-looking statements include all matters that are not historical facts. They appear in a number of places throughout this announcement and include statements regarding the intentions, beliefs or current expectations of the Directors concerning, among other things, the Group’s results of operations, financial condition, prospects, growth, strategies and the industries in which the Group operates. The directors of the company believe that the expectations reflected in these statements are reasonable, but may be affected by a number of variables which could cause actual results or trends to differ materially. Each forward-looking statement speaks only as of the date of the particular statement. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future or are beyond the Group’s control. Forward looking statements are not guarantees of future performance. Even if the Group’s actual results of operations, financial condition and the development of the industries in which the Group operates are consistent with the forward-looking statements contained in this document, those results or developments may not be indicative of results or developments in subsequent periods.