Proposed Capital Reduction and Notice of GM

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 receipt of Forms of Proxy for the General Meeting	4.00 p.m. on 19 September 2016
General Meeting	4.00 p.m. on 21 September 2016
Expected date of Court hearing to confirm the Capital Reduction	24 October 2016
Expected effective date for the Capital Reduction	26 October 2016

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.

 

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