Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.


Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email in the first instance.

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  Print      Mail a friend       Annual reports

Wednesday 28 July, 2004


AGM Statement

28 July 2004

                          BTG plc: 2004 AGM Statement

London, UK, 28 July 2004 - BTG plc (LSE: BGC), the IP and technology
commercialisation company, will hold its Annual General Meeting today at 10.30am
at the company's offices in London.  The following is a summary of comments to
be made by Sir Brian Fender, Chairman, and Ian Harvey, Chief Executive Officer.

Total revenues for the year ended 31 March 2004, including equity disposals of
£4.1 million and the £12.0 million settlement from Acambis plc, increased by 68%
to £52.9 million.  The company also reported a 37% reduction in loss before tax
to £22.9 million.  In the current year, we are targeting revenue growth of 20%
(excluding the £12.0 million from Acambis).  We will continue to manage
investments and costs in line with actual revenue growth in pursuit of our
target of reaching profitability by March 2006, excluding Provensis.

We have previously announced our strategy for the continued development and
commercialisation of Varisolve(R), and through a Rights Issue early this year we
raised £26.6 million to implement our plans.  All elements of the programme of
work intended to enable the resumption of US clinical development are under way,
and our subsidiary, Provensis, is on track to submit a complete response to the
clinical hold to the Food & Drug Administration by the end of November.
Construction of the manufacturing facility is continuing towards completion.
Commercial discussions with potential partners are proceeding, and we are
planning to conclude an agreement by the end of the financial year which will
ensure the continued development of Varisolve(R).

The flow of technologies into BTG continues to be strong, with six acquisitions
completed during the first quarter of the current year.  In development, BTG has
recently initiated a Phase I/II study of BGC 9331, a potential treatment for
gastric and other solid tumours.  BTG's subsidiary KetoCytonyx, Inc. commenced a
Phase I clinical study of KTX 0101, its lead therapeutic with a target
indication of prevention of cognitive impairment in patients undergoing Coronary
Artery Bypass Graft (CABG) surgery.

We can also report that several of BTG's licensees have made recent progress.
ILEX Oncology, Inc. has completed recruitment of 284 patients for a Phase III
trial of Campath(R) versus chlorambucil as front-line therapy in previously
untreated patients with progressive B-cell chronic lymphocytic leukaemia
(B-CLL).  Campath(R) is currently approved to treat patients with B-CLL who have
been treated with alkylating agents and have failed fludarabine treatment.
Enrolment of 240 patients in a global, multi-centre Phase II trial of Campath(R)
in previously untreated relapsing/remitting multiple sclerosis has also been

BTG's licensee Xanthus Life Sciences has initiated a Phase I clinical study of
Symadex in patients with advanced solid tumours.  Symadex (licensed to Xanthus
by BTG as C-1311) is a next-generation anti-cancer agent that was designed to
have similar or improved efficacy in comparison to the currently marketed
chemotherapeutic, mitoxantrone, but with reduced side effects, including cardio-
and haemato-toxicities.

During the first quarter of the current year, we have completed three new
licence agreements.  Several others are in late stage discussions, and we have a
strong pipeline of technologies in active commercialisation.

Creating, asserting and defending patents is central to BTG's business.  During
the first quarter of the year, we have successfully defended the European
patents protecting the haemofiltration technology invented by the University of
Cincinnati Children's Hospital Medical Center, which had been challenged before
the Opposition Division and the Board of Appeal of the European Patent Office by
our licensee Gambro Lundia AB.  As a result, BTG anticipates a higher royalty
rate and increased revenues from the existing licence agreement with Gambro.

BTG, Teleshuttle Corporation and Teleshuttle Technologies LLP have recently
filed suit against Microsoft and Apple for infringement of Teleshuttle
Technologies' patent covering Microsoft's and Apple's web-enabled software
update technologies.  Another suit has been filed against Microsoft for
infringement of Teleshuttle Technologies' patents covering Microsoft's active
desktop and offline browsing technologies.  These actions follow delays by
Microsoft and Apple from entering into licence agreements on commercially
reasonable terms.

The search for a successor to Ian Harvey, who is scheduled to retire in early
2005, is progressing well and we anticipate appointing the new Chief Executive
Officer before the end of the calendar year.  Both Rusi Kathoke and Malcolm
Coster offer themselves for re-election at today's Annual General Meeting.


For further information contact:

BTG                                                     Financial Dynamics
Andy Burrows, Director of Investor Relations            Ben Atwell
+44 (0)20 7575 1741                                     +44 (0)20 7831 3113

About BTG

BTG is an intellectual property and technology commercialisation company that
operates internationally. BTG creates value by investing in intellectual
property and technology development, and in early stage ventures. We realise
value through technology licensing, patent assertion and disposal of equity
investments. Through a multidisciplinary approach, we apply intellectual
property and commercial expertise, together with specialist skills in science
and technology, to create major product opportunities in the health and high
tech sectors. BTG has commercialised important innovations, including Magnetic
Resonance Imaging, Multilevel cell memory, and Factor IX blood clotting protein,
the first recombinant treatment for Haemophilia B. BTG operates through wholly
owned subsidiaries BTG International Ltd and BTG International Inc in the UK and
USA, respectively. Further information on BTG can be found at

                      This information is provided by RNS
            The company news service from the London Stock Exchange