Carecapital Stocks Up 145% At AGM

CareCapital Group (LSE:CARE) shares rose a stellar 145% today following the release of their annual trading update for presentation at the company’s Annual General Meeting today.

Operations Update

Although previously approved by the shareholders, the commentary in the Trading Update regarding the November 2011 sales of their entire German operations portfolio laid a solid foundation for the unfolding company plans and potential ROI for investors. The transaction freed up €27.35 millon to provide working capital to be used in the development of UK interests.

Company Plans

Chairman Mike Sinclair indicated that the company will not be renewing its lease for its current head office location in London. This decision, bundled with several other initiatives, is expected to generate cost savings of at least £250,000 annually.

The Board of Directors indicated solid confidence that the company’s 28.75% share in Advanced Proton Solutions will have “significant value” as the demand for the cancer treatment procedure increases worldwide.

The company is also entertaining and evaluating overtures from several other providers of proven cancer treatments. It has given some consideration to alliances that could form the basis for a new healthcare division for the company.

Chairman Statement

Mike Sinclair’s summary statement was no doubt music to investors’ ears: “We are now, I believe, making good progress towards our objective of restoring value to shareholders.”

Company Spotlight

CareCapital is a comprehensive property and service solutions providing customised healthcare facilities in partnership with the National Health Serice (NHS) and other healthcare providers in the United Kingdom and Europe.

References
↑ Company website

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