Inspiration Healthcare Group PLC Proposed Capital Reduction and Notice of GM (5990H)
19 August 2016 - 4:00PM
UK Regulatory
TIDMIHC
RNS Number : 5990H
Inspiration Healthcare Group PLC
19 August 2016
Inspiration Healthcare Group plc
("Inspiration Healthcare" or the "Company")
Proposed Capital Reduction and Notice of General Meeting
Inspiration Healthcare Group plc (AIM: IHC), the global medical
device company, announces that it is today posting a circular (the
"Circular") to shareholders containing details of a proposed
reduction of the Company's share premium account (the "Capital
Reduction") together with notice (the "Notice") of the requisite
general meeting (the "General Meeting") to be held at 4.00 p.m. on
21 September 2016.
The Circular (containing the Notice) will shortly be made
available on the Company's website at
www.inspiration-healthcare.com.
Highlights
-- The Company is proposing the Capital Reduction in order to
create distributable reserves to provide the Board with the
flexibility to distribute profits to shareholders as dividends,
subject to the financial performance of the Company.
-- The Capital Reduction will not involve any distribution or
repayment of capital or share premium by the Company and will not
reduce the underlying net assets of the Company. There will be no
change in the number of Ordinary Shares in issue following the
implementation of the Capital Reduction.
The Board considers that the Capital Reduction will be
beneficial for the Company as a whole and accordingly recommends
that shareholders vote in favour of the Resolution to be proposed
at the General Meeting, as they intend to do so in respect of their
own beneficial shareholdings which amount, in aggregate, to
11,591,332 Ordinary Shares, representing approximately 37.8% of the
existing Ordinary Shares currently in issue.
The Resolution will be proposed as a special resolution to
approve the Capital Reduction.
EXPECTED TIMETABLE OF PRINCIPAL EVENTS
Publication of Circular 19 August 2016
Latest time and date for 4.00 p.m. on 19 September
receipt of Forms of Proxy 2016
for the General Meeting
General Meeting 4.00 p.m. on 21 September
2016
Expected date of Court 24 October 2016
hearing to confirm the
Capital Reduction
Expected effective date 26 October 2016
for the Capital Reduction
Unless otherwise defined, capitalised terms used in this
announcement have the meanings given to them in the Circular.
Further information on Inspiration Healthcare can be seen at
www.inspiration-healthcare.com
Enquiries:
Inspiration Healthcare
Group plc
Neil Campbell, Chief
Executive Officer 01709 761000
WH Ireland Limited
(Nominated Adviser
and Broker)
Tim Feather
Liam Gribben 0113 394 6600
Cadogan PR
Alex Walters 07771 713608
About Inspiration Healthcare
Inspiration Healthcare (AIM: IHC) is a global supplier of
medical technology for critical care, operating theatre and other
medical applications. The Company provides high quality innovative
products to patients and caregivers around the world that help to
improve patient outcomes and efficiencies of healthcare
organisations with patient focused customer service and technical
support.
The Company's own brand of critical care solutions span
non-invasive respiratory management, thermoregulation and
diagnostics, and patient warming for newborns through to adults in
intensive care and the operating theatre, whilst the distribution
business supplies solutions to support specialised surgical
procedures and infusion therapies.
Present in over 50 countries worldwide, Inspiration Healthcare's
success has been built on continuous innovation, excellent customer
service and an inherent commitment to improving the quality of life
of patients, working in close collaboration with key opinion
leaders and stakeholders in the clinical and medical community
across the globe.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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