Suspension of Trading/Board Change (3732Y)
December 21 2010 - 8:15AM
UK Regulatory
TIDMHCEG
RNS Number : 3732Y
Healthcare Enterprise Group PLC
21 December 2010
Healthcare Enterprise Group plc
("Healthcare" or the "Company")
Suspension of Trading in the Company's shares
Board change
In the Company's interim results, which were announced on 19
March 2010, the Company referred to the likelihood of a continued
losses in the second half of the financial year and the need to
raise further funds to continue to meet operating costs, albeit
that these were being kept at a minimal level. In addition, the
Company referred to a potential transaction following which the
Company would cease to be an "investing Company" under the AIM
Rules.
Unfortunately it has not been possible to complete this
transaction and the costs incurred as a result, coupled with an
inability to raise further equity funding, have further weakened
the Company's balance sheet. Until the financial position is
clarified, the Company will not be in a position to publish its
audited accounts for the year to 30 June 2010, which would
otherwise have to be released by 31 December 2010.
The Company has therefore requested that trading in its ordinary
shares be suspended pending clarification of its financial position
and until the 2010 audited accounts can be published. A further
announcement will be made when possible.
The Company announces further that John Honey has resigned from
the board with immediate effect to concentrate on running the
Company's two investee companies, Ebiox Limited and Reproductive
Sciences Limited.
Further Enquiries:
Healthcare Enterprise Group plc Tel: +44 (0)20 7680 3649
John Gunn, Lyndon Gaborit
www.hcegroup.com
Daniel Stewart & Company plc Tel: +44 (0)20 7776 6550
Antony Legge, Emma Earl
This information is provided by RNS
The company news service from the London Stock Exchange
END
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