African Medical Investments PLC Conversion of Convertible Loan Notes and TVR (0508Y)
February 18 2013 - 1:00AM
UK Regulatory
TIDMAMEI
RNS Number : 0508Y
African Medical Investments PLC
18 February 2013
African Medical Investments plc / Index: AIM / Epic: AMEI /
Sector: Healthcare
18 February 2013
African Medical Investments plc ("African Medical" or the
"Company")
Conversion of Harbinger Convertible Loan Notes and
Total Voting Rights
African Medical Investments plc (AIM:AMEI), the AIM listed
company operating in the African healthcare sector, announces that
all but $2m of the loan notes previously subscribed for by
Harbinger Capital Partners Master Fund I, Ltd ("Harbinger")
totalling $6,837,929.60 of principal and interest, has been
converted into 388,058,459 ordinary shares in the Company
("Ordinary Shares") (the "Conversion").
The loan notes converted by Harbinger, were originally issued
pursuant to:
(a) a loan note instrument entered into on 2 February 2011 as
amended and restated on 15 August 2011 and 29 August 2012 and as
subsequently amended on 1 October 2012 (the "1 October Amendment")
and on 18 October 2012 (the "18 October Amendment") between
Harbinger and the Company;
(b) a loan note instrument entered into on 6 March 2012 as
amended and restated on 29 August 2012 and as subsequently amended
by the 1 October Amendment and the 18 October Amendment between
Harbinger and the Company;
(c) a loan note instrument entered into on 19 April 2012 as
amended and restated on 29 August 2012 and as subsequently amended
by the 1 October Amendment and the 18 October Amendment between
Harbinger and the Company; and
(d) a loan note instrument entered into on 29 August 2012 and as
subsequently amended by the 1 October Amendment and the 18 October
Amendment between Harbinger and the Company, together being
referred to as the "Loan Note Instruments".
The Loan Note Instruments were converted at 1.125p per Ordinary
Share, using a USD:GBP exchange rate of 1.5663:1, being the spot
rate prevailing at the close of business on 12 February 2013.
Application has been made for the 388,058,459 new Ordinary
Shares to be admitted to trading on AIM, and admission is expected
to take place on 20 February 2013. The new Ordinary Shares will
rank pari passu in all respects with the existing issued Ordinary
Shares of the Company. Following the admission of the new Ordinary
Shares to trading on AIM, the total number of Ordinary Shares in
issue will be 710,292,330.
Total voting rights
Following the Conversion, the total number of Ordinary Shares in
issue will be 710,292,330. There are no shares held in Treasury.
The total number of voting rights in the Company will therefore be
710,292,330.
The above figure of 710,292,330 may be used by shareholders as
the denominator for the calculations in which they will determine
if they are required to notify their interest in, or a change to
their interest in, the Company, under the Disclosure and
Transparency Rules.
The Company has been informed by Harbinger, that following
Conversion, Harbinger holds a total of 528,539,048 Ordinary Shares,
representing 74.4 per cent. of the issued share capital and voting
rights of the Company.
African Medical Chief Executive Officer, Peter Botha said,
"Further to the Company's announcement on Friday, I am pleased to
report that this conversion of the Harbinger loan notes reduces the
indebtedness of the Company. Our options in finding other financial
solutions for the business have as a result improved and I look
forward to updating shareholders in due course."
** ENDS **
For further information please visit www.amiplc.com or
contact:
Peter Botha African Medical Investments Tel: +27 833 269 564
Plc
David Foreman Seymour Pierce Tel: +44 (0) 20 7107
8000
Rick Thompson Seymour Pierce 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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