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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Healthcare Ent. | LSE:HCEG | London | Ordinary Share | GB00B6030H73 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:6898V Healthcare Enterprise Group PLC 23 February 2004 HEALTHCARE ENTERPRISE GROUP PLC Ebiox share purchace Further to the announcement made on 12 January 2004 by Healthcare Enterprise Group PLC (HCEG), the healthcare products and services company, relating to a proposed increase in the Group's holding in Ebiox Ltd and certain related transactions, HCEG today announces that the definitive documentation has been signed and that the transaction is now completed. Keith MacGregor, Ebiox's Managing Director, will prior to the exercise of the options granted to HCEG, hold 51% of Ebiox. He has today entered into a service contract with Ebiox and will join HCEG's Products and Distribution Division management team. Stuart Bruck, Chairman, Healthcare Enterprise Group PLC, commented: "A focus for us is the commercialisation of this world class product which stands alone with its sterilisation properties. Keith MacGregor brings strong credentials to the company and we welcome his experience built in the medical industry. "We envisage continuing positive news from Ebiox and the other technologies within our portfolio over the coming year and look forward to building our presence in the market place." The terms or the transaction are as follows: 1 the acquisition of a further 14% of the share capital of Ebiox, taking the Group's interest to 49% for a consideration of 15 million HCEG shares 2 the grant of a call option to HCEG to acquire a further 2% for a price of up to #100,000. This will be satisfied in cash and/or shares at the option of HCEG. HCEG may give notice to exercise this option at any time up to March 2006; 3 the grant of a further call option to HCEG to acquire the remaining 49% at a price to be determined by reference to the financial performance of Ebiox, subject to a minimum price of #2 million and a maximum price of #5 million, again to be satisfied in cash and/or shares at the option of HCEG. HCEG may give notice to exercise this option at any time after the exercise of the first option up to April 2006; 4 the shareholders of Ebiox (being SafaTec (UK) Limited, Keith MacGregor and HCEG) have entered into a shareholders agreement which regulates the way in which Ebiox is to be operated and managed; and 5 Keith MacGregor will also be entitled to payment of further amounts based on the Group's aggregate sales of Ebiox products over a three year period above a threshold volume, such payments not to exceed #2 million. 23 February2004 Enquiries: Healthcare Enterprise Group PLC Tel: 020 7659 6158 Stuart Bruck, Executive Chairman Gordon Wood, CEO Products & Distribution Division College Hill Tel: 020 7457 2020 Nicholas Nelson / Corinna Dorward Note to editors Ebiox Ebiox produces a range of patented cleansing and decontamination products, which are designed to penetrate and remove the bacterial biofilm that harbours pathogens such as prions, bacteria and viruses. Ebiox cleans surgical instruments and surfaces to molecular level - achieving a 6-log reduction in infection levels. As well as the current range of products, which are now being marketed in the UK and will shortly be introduced to the US market, Ebiox had a range of exciting product innovations in development. These will assist in the control of MRSA and SARS. The company also has products for the decontamination of dental aspiration lines, hand disinfection products and retail disinfectant wipes. Ebiox has a user-friendly alcohol free product range which is non harmful to all surfaces. Healthcare Enterprise Group PLC HCEG is listed on the UK AIM stock market with its head office in London and subsidiary offices in Manchester, Liverpool, Germany and the USA. HCEG is a solid, traditional cash positive, profitable businesses in the medical product distribution, occupational health and medical consultancy markets. These businesses underpin a range of innovative medical devices which will be introduced to the market via HCEG's own distribution network on a world-wide basis. This information is provided by RNS The company news service from the London Stock Exchange END MSCQKNKBFBKKPBB
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