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Healthcare Enterprise Group has raised 206,000 gross through a placing at 25p a share. The proceeds will be used to reduce debt and for working capital.
The healthcare products group has agreed to pay to Alliance Unichem 50,000 of the funds to settle debts and assignment of two property leases which formed part of the acquisition of Crest Medical in 2004.
It will also issue loan notes up to 150,000 secured on Ebiox shares owned by HCEG.
The group has also agreed settlement of a dispute relating to an investment in its subsidiary Healthcare Endoscopy through payment of 25,000 in cash plus shares in HCEG, Reproductive Sciences and Ebiox.
Following the transfer, HCEG will own 27.1% of RSL and 20.6% of Ebiox.
Story provided by Business Financial Newswire
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