Business
NPXe Files Chapter 11 to implement Asset Sale
NPXe Files Chapter 11 to implement Asset Sale.
About this update from Inspiration Healthcare Group Plc
[{"type":"text","content":"\n \nRNS Number : 3259Y Inspiration Healthcare Group PLC 31 December 2019 \n\n \n \n \n \n \nInspiration Healthcare Group plc\n(\"Inspiration Healthcare\", the \"Company\" or the \"Group\")\n \n \nNPXe Files Voluntary Chapter 11 to implement Asset Sale\n \n \n \nInspiration Healthcare Group plc (AIM:IHC), the global medical technology company has been made aware that NPXe Limited (\"NPXe\") a company in which Inspiration Healthcare holds circa 8.6% of the issued share capital, that NPXe has filed a voluntary petition to reorganize under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. NPXe has also filed a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code.\n \nNPXe is a Phase III pharmaceutical and drug delivery device company developing XENEX™ (xenon gas for inhalation) for neuro- and cardio-protection and improvement in survival for post-cardiac arrest syndrome. \n \nFor further information on the process and timetable, please contact NeuroproteXeon directly (www.npxe.com).\n \nInspiration Healthcare's holding in NPXe is currently valued at £111,000 on its balance sheet. Should the sale of NXPe proceed the Company will issue a further statement to update shareholders on details of any proceeds receivable from the sale.\n \n \n \nThe information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.\n \n \nEnquiries:\n\n\n\nInspiration Healthcare Group plc\nNeil Campbell, Chief Executive Officer\nMike Briant, Chief Financial Officer\n\n\nTel: 01455 840555\n \n\n\n\n\nNominated Adviser & Broker \nCenkos Securities plc \nMark Connelly / Stephen Keys\nCameron MacRitchie\n\n\nTel: 0207 397 8900\n \n\n\n\n\nCadogan PR &nb...