Result of GM & Lifting of Suspension (0880O)
September 12 2011 - 11:52AM
UK Regulatory
TIDMHLO
RNS Number : 0880O
Healthcare Locums PLC
12 September 2011
12 September 2011
Healthcare Locums plc
("HCL" or "Company")
Result of General Meeting and Lifting of Suspension
On 19 August 2011, the Board of HCL announced a substantial
refinancing of the Company, comprising a GBP60 million Placing, an
Open Offer of up to GBP4.25 million, the Debt for Equity Conversion
and the Debt Repayment and Restructuring (together referred to as
the "Refinancing").
The Placing, the Open Offer, the Debt for Equity Conversion and
the Debt Repayment and Restructuring are all conditional upon the
approval of the Refinancing Resolutions by Shareholders at the
General Meeting.
The Board of HCL is pleased to announce that all the Refinancing
Resolutions proposed at the General Meeting held today were duly
passed by Shareholders, as were all the Non-Refinancing
Resolutions. The Board is therefore pleased to announce that the
Refinancing is unconditional in all respects subject to
Admission.
Valid applications were received under the Open Offer in respect
of 9,450,971 New Ordinary Shares, which was less than the maximum
of 42,505,790 New Ordinary Shares available under the Open Offer.
Accordingly all such applications were accepted in full.
As a result of the above, the Company has requested that trading
in the Ordinary Shares on AIM be restored. The restoration of
trading of the Ordinary Shares is expected to take place at 7.30am
on 13 September 2011. Application has been made to admit the total
number of 734,450,971 New Ordinary Shares to be issued under the
Placing, the Open Offer and the Debt for Equity Conversion to
trading on AIM. Dealings in the New Ordinary Shares are expected to
commence at 8.00am on 13 September 2011.
Following completion of the Refinancing, the number of Ordinary
Shares in issue will become 847,799,742 on 13 September 2011.
The above figure (847,799,742 Ordinary Shares) may be used from
13 September 2011 by Shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change in their interest in, HCL
under the FSA's Disclosure and Transparency Rules.
Capitalised terms in this announcement have the same meaning as
in the Circular dated 19 August 2011.
Contact details:
Healthcare Locums plc
Peter Sullivan, Chairman
Tel: 020 7451 1451
Fairfax I.S. PLC
Nomad and Joint Broker
Simon Bennett/Ewan Leggat/Laura Littley
Tel: 020 7598 5368
Hawkpoint Partners Limited
Financial Adviser
Andrew Speirs, Managing Director
Tel: 020 7665 4742
Pelham Bell Pottinger
David Rydell/Emma Kent/Duncan Mayall
Tel: 020 7861 3232
This information is provided by RNS
The company news service from the London Stock Exchange
END
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