AMEI African Med

TIDMAMEI

RNS Number : 0018Y

African Medical Investments PLC

15 February 2013

African Medical Investments plc / Index: AIM / Epic: AMEI / Sector: Healthcare

15 February 2013

African Medical Investments plc

("African Medical" or the "Company")

Update re. financial position

African Medical Investments plc (AIM:AMEI), the AIM listed company operating in the African healthcare sector, announces that the Company is in advanced stages of agreeing a financing solution with short-listed potential new investors which is needed to secure its future capital requirements.

In the interim, the Company has secured additional debt funding to meet its short term working capital requirements.

African Medical Chief Executive Officer, Peter Botha said, "Whilst working capital remains very tight at the moment, the Board are working hard and are confident of securing a financing solution for the benefit of all our shareholders. In addition, we continue to have the support of Harbinger and are in final discussions to convert existing loan notes to improve our balance sheet structure."

Further announcements will be made in due course.

** ENDS **

For further information please visit www.amiplc.com or contact:

 
     Peter Botha         African Medical Investments       Tel: +27 833 269 564 
                          Plc 
     David Foreman       Seymour Pierce                    Tel: +44 (0) 20 7107 
                                                            8000 
     Rick Thompson       Seymour Pierce                    Tel: +44 (0) 20 7107 
                                                            8000 
     Susie Geliher       St Brides Media & Finance         Tel: +44 (0) 20 7236 
                          Ltd                               1177 
 

Notes

African Medical Investments plc (AIM:AMEI) provides international standard healthcare through private hospitals across Africa, targeting the expanding African middle classes and the expatriate, non-governmental organisations, diplomatic and tourist markets. The Company currently has hospitals in Dar es Salaam (Tanzania), Maputo (Mozambique) and Harare (Zimbabwe). Its current focus is on improving occupancy rates and optimising the space of these facilities, however expansion remains a longer term focus either through the construction of new hospitals or investments in existing facilities.

This information is provided by RNS

The company news service from the London Stock Exchange

END

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