GBP 1.6m Cash Placing
February 28 2007 - 1:03AM
UK Regulatory
RNS Number:9929R
Healthcare Enterprise Group PLC
28 February 2007
THIS ANNOUNCEMENT IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO THE
UNITED STATES, CANADA, JAPAN, AUSTRALIA OR SOUTH AFRICA
28 February 2007
Healthcare Enterprise Group plc
#1.6m cash placing
Healthcare Enterprise Group plc (AIM: HCEG, "HCEG", or "the Group"), the
healthcare products group, has raised approximately #1.632m (before expenses)
by the placing of 27,200,000 new ordinary shares of 2.5p each ("the Placing
Shares") at a placing price of 6 pence per share ("the Placing Price")
principally with institutional investors. The Directors, management and
consultants have agreed to subscribe in aggregate, #100,000 in the Placing.
The net proceeds of the Placing, after costs estimated to be approximately
#61,280, are expected to be approximately #1.571 million. The new funds raised
will be used to support development of Ebiox, particularly for distribution and
marketing arrangements. It will also be used to invest in IT support systems at
the Group's Warrington operations (Crest Medical) and to provide additional
working capital.
Mark Tompkins, Group Chairman and Lyndon Gaborit, Executive Deputy Chairman and/
or their connected persons have agreed to subscribe for 250,000 Placing Shares
at the Placing Price, respectively. This represents 0.16 per cent. of the issued
share capital as enlarged by the Placing. Following completion of the Placing,
Mark Tompkins and Lyndon Gaborit will own or be interested in 1,524,409 Ordinary
Shares and 1,303,351 Ordinary Shares respectively representing approximately
0.50 per cent. and 0.43 per cent. of the Group's Enlarged Issued Share Capital
respectively. Gron Ffoulkes-Davies, Chief Operating Officer of Crest Medical,
has agreed to subscribe for 250,000 Placing Shares at the Placing Price,
representing 0.08 per cent. of the Group's issued share capital as enlarged by
the Placing. Following completion of the Placing, Gron Ffoulkes-Davies will be
interested in 1,250,000 shares, representing approximately 0.41% of the Enlarged
Issued Share Capital. HCEG consultants have further agreed to subscribe for
916,000 Placing Shares at the Placing Price, representing 0.30 per cent. of the
issued share capital as enlarged by the Placing.
The Group will apply for Admission of the Placing Shares to trading on AIM.
Dealings in these shares are expected to commence on 6 March 2007.
Enquiries:
Healthcare Enterprise Group PLC 020 7351 7500
Mark Tompkins, Chairman
Lyndon Gaborit, Executive Deputy Chairman
Numis Securities Limited 020 7776 1500
David Poutney
College Hill 020 7457 2020
Adrian Duffield / Corinna Dorward
This information is provided by RNS
The company news service from the London Stock Exchange
END
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