MOD 0.00% 43.5¢ mod resources limited

2nd good ann for the week

  1. 2,271 Posts.
    Looking good now, FDA approval not far down the road and I believe they have an AGM today.

    Enters Put Option over Final 18.8% in Objectivision P/L 11:23 17/5/2002 No.6216375

    MEDICAL CORPORATION Last trade $0.470 at 14:31 16/5/2002


    HOMEX - Perth

    Medicalcorp is pleased to announce that it has entered into a put
    option over the final 18.8% of the equity in ObjectiVision Pty Ltd
    ("ObjectiVision"), held by the University of Sydney.

    ObjectiVision is a medical technology company, which has researched,
    patented and developed a revolutionary diagnostic system ("AccuMap"),
    which can accurately measure visual field loss, as seen in glaucoma.
    The AccuMap has been enthusiastically accepted by the ophthalmology
    community. Further research is underway to clearly define the role of
    the AccuMap technology in the early detection of other disease
    states especially those associated with the central nervous system.

    The put option enables Medicalcorp to acquire the remaining 18.8% of
    ObjectiVision by either;

    (i) issuing 13,764,000 fully paid ordinary shares in Medicalcorp; or
    (ii) such amount as determined by the parties with the assistance of
    an independent valuation if required.

    The put option expires on 30 November 2003.

    On the exercise of the put option, Medicalcorp will seek any
    necessary regulatory and shareholder approvals required in regard to
    the put option.

    Medicalcorp is pleased with the rapid progress made in the
    commercialisation of the Accumap system that is currently being used
    to diagnose glaucoma, a leading cause of blindness. It is also
    actively exploring the application of the technological platform in
    to other medical fields.

    The current year should see Accumap achieve a significant presence
    in Australia and New Zealand and obtain the relevant approvals to
    sell in the United States and Western European markets.

    The Put Option allows Medicalcorp to obtain 100% ownership of
    0bjectivision Pty Ltd and to have Sydney University as a shareholder
    of the Company.

    S Lee

    Enquiries should be directed to Mr Dimitri Bacopanos or Mr Simon Lee
    on (08) 9218 8111.

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