Business
Acquisition, Placing, Open Offer and Notice of GM
Acquisition, Placing, Open Offer and Notice of GM.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 4912Q\n Inspiration Healthcare Group PLC\n 19 June 2020\n \n \n \n \n The information contained within this announcement (the \"Announcement\") is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this Announcement via Regulatory Information Service, this inside information is now considered to be in the public domain.\n \n \n \n \n \n 19 June 2020\n \n \n \n \n \n Inspiration Healthcare Group plc\n \n \n (\"Inspiration Healthcare\" the \"Group\" or the \"Company\")\n \n \n \n \n \n Proposed Acquisition of S.L.E. Limited\n \n \n Proposed Placing & Subscription to raise £16.5 million\n \n \n & Open Offer to raise up to £0.5 million\n \n \n Notice of General Meeting\n \n \n \n \n \n \n \n \n Inspiration Healthcare Group plc (AIM:IHC), the global medical technology company, is pleased to announce that it has today entered into a conditional agreement to acquire the entire issued share capital of S.L.E. Limited, for an aggregate consideration of £18.0 million on a cash free debt free basis (the \"Acquisition\"). \n \n \n \n \n \n The Company also announces that it has conditionally raised £16.5 million (before expenses) by way of a Placing and Subscription to certain institutional and other investors. Furthermore, to enable other Shareholders who are not able to participate in the Placing an opportunity to subscribe for new Ordinary Shares, the Company is proposing to raise up to an additional £0.5 million (before expenses) by way of an Open Offer made to Qualifying Shareholders of up to 767,617 new Ordinary Shares at the Issue Price.\n \n \n \n \n \n Transaction Highlights:\n \n \n \n \n \n · \n Acquisition of S.L.E Limited for a total consideration of £18.0 million \n of which £16.2 million is payable in cash and £1.8 million is payable in Consideration Shares\n \n \n · \n The cash consideration is to be funded by:\n \n \n - \n a Placing and Subscription of 25,384,615 new Ordinary Shares at the Issue Price with new and existing investors to raise £16.5 million\n \n \n - \n an Open Offer to Qualifying Shareholders at the Issue Price to raise up to an additional £0.5 million\n \n \n - \n a new £5.0 million revolving credit facility with ...