Last checked at 9 Oct 2009 15:37
9 October 2009
System C Healthcare plc ("System C" or the "Company")
Issue of Equity
The Company announces that it has revised the terms of the earn-out arrangements pursuant to the agreement for the acquisition of Bluestar UK Group Limited ("Bluestar") dated 5 May 2009. The Company has accelerated the earn-out payment to the vendors of Bluestar in order to facilitate the full integration of the business into System C. Under the terms of the revised arrangements, System C will satisfy the earn-out for a total of £300,833, of which £200,000 will be settled in cash and £100,833 by the issue of 166,667 ordinary.
Accordingly, application has been made for the 166,667 ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 15 October 2009. The ordinary shares will rank pari passu with the existing shares of the Company. Following this allotment, the total issued share capital of the Company will be 115,005,126 ordinary shares.
Contact:
| System C Healthcare plc Andrew Coll, Finance Director | Tel: 01622 691 616 |
| Charles Stanley Securities Nominated Adviser Mark Taylor/Russell Cook/Jen Boorer | Tel: 020 7149 6000 |