Avia Health Informatics PLC Funding update (0267K)
15 August 2012 - 8:00AM
UK Regulatory
TIDMAVIA
RNS Number : 0267K
Avia Health Informatics PLC
15 August 2012
15 August 2012
Avia Health Informatics PLC
("Avia" or the "Company")
Funding update
Further to the announcement made on 6 August 2012 regarding
funding, the Company is pleased to announce that it has entered
into a non-binding term sheet arrangement with TCA Global Credit
Master Fund, LP ("TCA") regarding a proposed $2 million credit
facility. Under the terms of the proposed financing, an initial
tranche of $425,000 is available to be drawn down by the Company
upon completion following entry into final banking documentation
(which will include details of the various fees and interest
payable by Avia). Amounts over and above the initial tranche are
able to be drawn down in future months subject to the level of
accounts receivable, up to a maximum of $2 million.
Were the facility with TCA to be entered into, the Directors of
Avia believe that it will provide sufficient capital for the
Company's projected working capital requirements. The Directors
expect to be in a position to access the initial tranche of debt
capital available under this proposed facility by the end of this
month.
Shareholders will be updated of any material developments in
this regard as soon as appropriate.
Enquiries:
Avia Health Informatics Plc +44 (0) 1494 618 503
Barry Giddings, Chairman www.ahi-plc.com
Jeremy Dale, Clinical Director
Roger Lane-Smith, Non-Executive Director
Allenby Capital (Nominated Adviser and +44 (0) 20 3328 5656
Broker) www.allenbycapital.co.uk
Nick Naylor +44 (0)207 183 2493
Mark Connelly www. plumtreecapital.co.uk
Plumtree Capital (Debt adviser to Avia)
Stephen Austin
Cadogan PR (Financial PR) +44 (0) 7771 713608
Alex Walters www.cadoganpr.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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