MDY Mdy Healthcare

 

TIDMMDY 
 
RNS Number : 9865Q 
MDY Healthcare PLC 
12 August 2010 
 

                               MDY Healthcare plc 
 
                       Termination of executive agreement 
 
 
12 August 2010: MDY Healthcare plc ("MDY Healthcare" or the "Company"), the 
strategic investor in healthcare companies, today announces that David Wong has 
resigned as an executive of the Company with immediate effect. 
 
The Company announced in the Interim results published in June that it had given 
notice to terminate the consulting contract through which Dr Wong's services are 
provided to the Company.  Following the receipt of legal advice, the Company has 
now agreed with Dr Wong the terms on which his employment contract is to be 
terminated.  By way of full and final settlement, the Company will pay an 
aggregate sum of GBP275,000 in connection with termination of the consulting 
contract (through which Dr Wong's services were provided to the Company) and Dr 
Wong's employment contract. 
 
 
For further information, please contact: 
 
+------------------------------+------------------------------+ 
| MDY Healthcare plc           |         +44 (0) 207 647 1800 | 
| Alan MacKay, Chairman        |                              | 
+------------------------------+------------------------------+ 
|                              |                              | 
+------------------------------+------------------------------+ 
| Financial Dynamics           |         +44 (0) 207 831 3113 | 
| Ben Atwell, Susan Quigley    |                              | 
|                              |                              | 
| ben.atwell@fd.com,           |                              | 
| susan.quigley@fd.com         |                              | 
+------------------------------+------------------------------+ 
|                              |                              | 
+------------------------------+------------------------------+ 
| Brewin Dolphin Limited       |         +44 (0) 845 213 4730 | 
| (Nomad)                      |                              | 
| Matt Davis                   |                              | 
+------------------------------+------------------------------+ 
 
 
Notes for editors: 
 
About MDY Healthcare 
MDY Healthcare plc is a sector specialised strategic investing company quoted on 
AIM (ticker symbol: MDY).  The Company seeks to achieve superior returns for 
shareholders by investing globally in companies, both public and private, across 
the healthcare sector.  The directors and executive have significant operational 
and investment experience in the sector and therefore the ability to identify 
and review a wide range of potential investments.  Further information can be 
found on the website www.mdyhealthcare.com. 
 
END 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 MSCGGUUPRUPUGGP 
 

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