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HCEG Healthcare Ent.

20.50
0.00 (0.00%)
15 Jul 2024 - Closed
Delayed by 15 minutes
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

Share Subscription

29/08/2003 1:02pm

UK Regulatory


RNS Number:1728P
Healthcare Enterprise Group PLC
29 August 2003

                     HEALTHCARE ENTERPRISE GROUP PLC

Commitment received to subscribe for ordinary shares of 0.1p each ("Ordinary
Shares") and proposed issue of Warrants to subscribe Ordinary Shares

Healthcare Enterprise Group PLC ("the Company") announces that it has today
received a legally binding commitment from Prestbury Investment Holdings Limited
("the Subscriber") to subscribe for Ordinary Shares for an aggregate price of
#300,000 ("Committed Shares").  The Company has also agreed to issue warrants 
("Warrants") to the Subscriber to subscribe Ordinary Shares.  The number of
Warrants issued will match the number of Committed Shares issued.

The Committed Shares will be issued following the entry into by the Company of
potential material transactions and any associated equity fundraisings.  The
issue price per Ordinary Share will be 1p or the price at which such
fundraisings are undertaken, if lower.  In the event that no such transactions
are announced by 31 October 2003, the Company will issue the Ordinary Shares at
a price of 1p per share.

The Warrants, which will be issued at the same time as the Ordinary Shares, will
have an exercise price equal to the price at which Ordinary Shares are issued to
the Subscriber and may be exercised (in whole but not in part) at any time up to
the second anniversary of the date of issue.

The number of Committed Shares and Warrants to be issued is dependent upon the
price to be paid per Committed Share as described above.

Upon their respective issue, the Committed Shares and the Ordinary Shares
arising on the exercise of the Warrants will rank pari passu in all respects
with the existing Ordinary Shares and application will be made for their
admission to trading on AIM.  The Subscriber will be entitled to participate in
any equity fundraising undertaken by the Company by reference to a record date
falling after today's date as though it had already subscribed the Committed
Shares, whether or not the Committed Shares have actually been issued on such
record date, as the Subscriber's commitment is irrevocable regardless of when
the Committed Shares are actually issued.

The issue of new Ordinary Shares to the Subscriber is designed to enable the
Company to meet certain contingent acquisition commitments, should they arise.
The Company is currently in discussions with a view to the entry into of a
potential transaction, which would constitute a reverse takeover for the purpose
of the AIM Rules and an associated fundraising.  In its February 2003 circular,
the Company stated that it would pursue new opportunities afforded by the
changes in the healthcare industry and to this end has considered certain
acquisition opportunities presented to it which has resulted in these current
discussions.  If such discussions result in the entry into of definitive
documentation, the Company will make a further announcement at that time.

                                                                  29 August 2003

Enquiries:

Healthcare Enterprise Group PLC
Lyndon Gaborit                                             Tel: 020 7659 6159

Numis Securities Limited
Simon Charles                                              Tel: 020 7776 1500

College Hill
Nicholas Nelson                                            Tel: 020 7457 2020




                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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