HCEG Healthcare Ent.

 

TIDMHCEG 
 
RNS Number : 7252V 
Healthcare Enterprise Group PLC 
15 July 2009 
 

Healthcare Enterprise Group plc 
 
 
("HCEG", "the Company" or "the Group") 
 
 
RESULT OF AGM 
 
 
The Board of Healthcare Enterprise Group plc, a business engaged in the medical 
product and disinfectant markets, is pleased to announce that all of the 
Resolutions proposed at the Company's Annual General Meeting ("AGM") held today 
were duly voted and passed. 
 
 
Accordingly, and pursuant to the announcement released on 19 June 2009, the 
reorganisation of the Company's existing share capital on the basis that every 
250 existing ordinary shares of 0.1 pence be consolidated into one new ordinary 
share of 25 pence ("New Ordinary Shares") will take effect on 21 July 2009 in 
accordance with the Circular sent to shareholders. 
 
 
Further, the approval of the capitalisation of its existing indebtedness by the 
issue of new ordinary shares and the transfer by HCEG of some of its shares in 
certain subsidiaries was also approved. 
 
 
Application has, therefore, been made to AIM for the admittance of a total of 
4,392,126 new ordinary shares of 25 pence each; the trading of such shares is 
expected to commence at 8:00 a.m. on 21 July 2009. The ISIN for the new 
consolidated and capitalisation shares is GB00B6030H73. 
 
 
The Circular summarising the Proposals is available on the Company's website at 
www.hcegroup.com 
 
 
Commenting on the Company's recently approved corporate actions, Lyndon Gaborit, 
Executive Deputy Chairman said: 
 
 
"These actions have released the Company from significant indebtedness totalling 
GBP3.26 million and has reduced the Company's obligation to provide all the 
funding for the development and roll out of the two main underlying businesses. 
Whilst the Company will retain a significant shareholding in both Ebiox and 
Reproductive Sciences, the approved actions has the added benefit of allowing 
those businesses to flourish  with additional investment from other 
shareholders, whilst allowing the Company to choose whether or not to 
participate in part or in full in future financing. 
 
 
We are very pleased with the progress in the Ebiox business under the 
stewardship of John Honey, which has attracted new customers and is negotiating 
the distribution of additional products to meet the upsurge in demand caused by 
the swine flu pandemic. Significant progress is also being made with 
Reproductive Sciences which is currently undergoing approvals for its 
Fertiligent "Evie" pregnancy aid device from the US Food & Drug Administration. 
 
 
The Company will now be actively seeking additional investments in the 
healthcare and wellness markets.  The Company intends to act as a consolidator 
of smaller quoted and unquoted companies in that sector. With its established 
shareholder base, access to institutional and private funding and its 
experienced management team, the Directors believe that the Company is well 
placed to expand by acquiring smaller businesses which have good products or 
services but which lack the critical mass to gain significant market entry. The 
creation of a larger listed entity will allow entrepreneurs and business 
managers the opportunity to combine with a larger entity to provide both 
diversification of risk and economies of scale." 
 
 
 
 
Further enquiries: 
 
 
Healthcare Enterprise Group plc 
Lyndon Gaborit, Executive Deputy Chairman 
Gron Ffoulkes-Davies, Chief Financial Officer    Tel: + 44 (0) 1925 898 201 
 
 
Daniel Stewart & Company plc 
Graham Webster/Stewart Dick                   Tel: + 44 (0) 20 7776 6550 
 
 
Notes to Editor: 
 
 
Healthcare Enterprise Group plc companies include Ebiox Limited, a specialist 
disinfectant and decontamination company which has a range of proprietary 
products patented and approved for sale in multiple world markets; Reproductive 
Sciences Limited which invests in medical devices product development, 
particularly in the area of women's health; and investments in healthcare 
products and services. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 RAGSFAFDISUSESW 
 

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