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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
African Med | LSE:AMEI | London | Ordinary Share | IM00B39HQT38 | ORD NPV |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.225 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
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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