African Medical Investments plc / Index: AIM / Epic: AMEI /
Sector: Healthcare
15 October 2012
African Medical Investments plc, the AIM listed company
operating in the African healthcare sector, announces that
Harbinger Capital Partners Master Fund I, Ltd ('Harbinger')
failed to subscribe for the second and final balance of
US$750,000 (the
'Final Balance') on 12 October 2012 of a convertible loan
note instrument constituted on 29 August 2012 and as amended
on 1 October 2012 in accordance with a deed of amendment
entered into on 1 October 2012, and is therefore in breach of
its undertaking to do so.
As a consequence, the amendments to the loan note instruments
(namely, the deletion of certain restrictive covenants to
which the Company would otherwise be subject) take
effect.
The Company and Harbinger are in discussions about Harbinger
subscribing for the final balance this week and, in the
meantime, the Company reserves its rights in full against
Harbinger. The Company will make a further announcement
regarding the timing of such final subscription as and when
confirmed.
For further information please visit www.amiplc.com or contact:
Peter Botha | African Medical Investments Plc | Tel: +27 833 269 564 |
Jonathan Wright | Seymour Pierce Ltd | Tel: +44 (0) 20 7107 8000 |
David Foreman | Seymour Pierce Ltd | Tel: +44 (0) 20 7107 8000 |
David Hart | Daniel Stewart & Company Plc | Tel: +44 (0) 20 7776 6550 |
Martin Lampshire | Daniel Stewart & Company Plc | Tel: +44 (0) 20 7776 6550 |
Susie Geliher | St Brides Media & Finance Ltd | Tel: +44 (0) 20 7236 1177 |
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.
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