Healthcare Enterprise Group PLC (“HCEG”) announces that at the Extraordinary General Meeting held earlier today, shareholders of HCEG passed the resolution approving the merger of Crest Medical Limited with First Aid Warehouse Ltd and its various affiliated companies First Aid Supplies Ltd, 44 First Aid Ltd and Surgicon Healthcare Ltd (the “First Aid Warehouse Group”). Completion of the merger is expected to take place shortly.

 

In the circular to shareholders dated 18 March 2008 (the “Circular”), it was stated that First Aid Holdings Limited (“FAH”) the acquirer of Crest Medical Limited and First Aid Warehouse Group, proposed to raise through Ludgate Investments Limited (“Ludgate”), a minimum of £550,000 (before expenses) to fund future growth opportunities and provide additional working capital. Ludgate has placed 242,000 shares in FAH at £2.50 per share, raising £605,000 (before expenses) for FAH. This fund raising will be completed before the merger of Crest Medical Limited with FAH.

 

As previously announced and as set out in the Circular, the vendors of the First Aid Warehouse Group are to be allotted 1,000,000 shares in FAH and HCEG is to be allotted 980,000 shares in FAH. Accordingly, HCEG’s continuing interest in FAH amounts to approximately 44.1% of the issued share capital of that company.

 

Following completion of the merger it is intended that John Gunn will be appointed as Chairman of FAH.

 
Healthcare Enterprise Group
Lyndon Gaborit, Executive Deputy Chairman
+ 44 (0)1925 898 200  
 
Numis Securities
David Poutney
+44 (0) 20 7260 1000
 
College Hill
Adrian Duffield
Jon Davies
+44 (0) 20 7457 2020