Disposal of Shares & Repayment of Loan Stock
April 07 2009 - 1:00AM
UK Regulatory
TIDMHCEG
RNS Number : 2378Q
Healthcare Enterprise Group PLC
07 April 2009
Healthcare Enterprise Group plc
("HCEG", "the Company" or "the Group")
Disposal of shares in First Aid Holdings Limited, transfer of shares in Ebiox
Limited, and repayment in full of secured loan stock.
Healthcare Enterprise Group plc (AIM: HCEG) announces that on 7 April 2009 it
transferred 303,689 shares in First Aid Holdings Limited ("FAH") to the holders
of secured loan stock in the Company to redeem GBP350,000 of the outstanding
secured loan stock plus accrued interest. Following this disposal the Company's
holding in FAH will reduce from 24.9% to 11.2%. Simultaneously, the Company
transferred 162,690 ordinary shares in Ebiox Ltd to secured loan stock holders
to satisfy the balance of the secured loan stock of GBP150,000 and accured
interest thereon. Following this disposal the Company's holding in Ebiox Ltd
will reduce from 100% to 95.1%. As a result of these transactions, the Company
will not have any secured borrowings.
Under the AIM Rules, John Gunn (Non-Executive Director) a secured loan stock
holder is classified as a related party. Lyndon Gaborit (Executive Deputy
Chairman) considers, having consulted with Daniel Stewart (the Company's
Nominated Adviser), that the terms of loans are fair and reasonable insofar as
its shareholders are concerned.
Pursuant to the announcement made on 22 December 2008, the Company's shares
remain suspended from trading on AIM.
Further Enquiries:
Healthcare Enterprise Group Plc
Lyndon Gaborit, Executive Deputy Chairman Tel: + 44 (0)1925 898 200
www.hcegroup.com
Daniel Stewart & Company Plc
Lindsay Mair/Stewart Dick Tel: + 44 (0) 207 776 6550
Notes to Editors:
Healthcare Enterprise Group PLC companies include Ebiox Limited, a specialist
disinfectant and decontamination company which has a range of proprietary
products patented and approved for sale in multiple world markets; Reproductive
Sciences Limited which invests in medical devices product development,
particularly in the area of women's' health; and investments in healthcare
products and services.
FAH and its subsidaries, which are independently owned, are engaged in the sale
of first aid and healthcare related products.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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