AMEI African Med

TIDMAMEI

RNS Number : 6854O

African Medical Investments PLC

15 October 2012

African Medical Investments plc / Index: AIM / Epic: AMEI / Sector: Healthcare

15 October 2012

African Medical Investments plc ('African Medical' or 'the Company')

Convertible Loan Note Instrument

African Medical Investments plc, the AIM listed company operating in the African healthcare sector, announces that Harbinger Capital Partners Master Fund I, Ltd ('Harbinger') failed to subscribe for the second and final balance of US$750,000 (the 'Final Balance') on 12 October 2012 of a convertible loan note instrument constituted on 29 August 2012 and as amended on 1 October 2012 in accordance with a deed of amendment entered into on 1 October 2012, and is therefore in breach of its undertaking to do so.

As a consequence, the amendments to the loan note instruments (namely, the deletion of certain restrictive covenants to which the Company would otherwise be subject) take effect.

The Company and Harbinger are in discussions about Harbinger subscribing for the final balance this week and, in the meantime, the Company reserves its rights in full against Harbinger. The Company will make a further announcement regarding the timing of such final subscription as and when confirmed.

** ENDS **

For further information please visit www.amiplc.com or contact:

 
 Peter Botha        African Medical Investments   Tel: +27 833 269 564 
                     Plc 
 Jonathan Wright    Seymour Pierce Ltd            Tel: +44 (0) 20 7107 
                                                   8000 
 David Foreman      Seymour Pierce Ltd            Tel: +44 (0) 20 7107 
                                                   8000 
 David Hart         Daniel Stewart & Company      Tel: +44 (0) 20 7776 
                     Plc                           6550 
 Martin Lampshire   Daniel Stewart & Company      Tel: +44 (0) 20 7776 
                     Plc                           6550 
 Susie Geliher      St Brides Media & Finance     Tel: +44 (0) 20 7236 
                     Ltd                           1177 
 

Notes

African Medical Investments plc (AIM: AMEI) provides international standard healthcare through private hospitals across Africa, targeting the expanding African middle classes and the expatriate, non-governmental organisations, diplomatic and tourist markets. The Company currently has hospitals in Dar es Salaam (Tanzania), Maputo (Mozambique) and Harare (Zimbabwe). Its current focus is on improving occupancy rates and optimising the space of these facilities, however expansion remains a longer term focus either through the construction of new hospitals or investments in existing facilities.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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