CTFA Cientifica

TIDMAVIA

RNS Number : 4486J

Avia Health Informatics PLC

16 July 2013

Avia Health Informatics Plc

("Avia" or "the Company")

Statement re suspension

Further to the announcement made by the Company on 25 June 2013, the Directors of Avia confirm that, in the absence of any other viable funding alternatives, the Company has entered into a heads of agreement with a third party for that third party to make a capital injection into the Company (the "Heads of Agreement"). Entry into the Heads of Agreement gives the third party a limited period of exclusivity to, inter alia, complete its due diligence on the Company.

The Heads of Agreement envisages the existing operating business of the Company being de-merged into a private entity, with existing Avia shareholders receiving shares in the private entity on a pro-rata basis. It is likely that such a transaction would be subject to the approval of Avia shareholders.

The Directors consider that the arrangements envisaged by the Heads of Agreement represent the most likely way at present for Avia shareholders to retain some value and potential for capital appreciation.

There can be no certainty that the arrangements set out in the Heads of Agreement will be entered into or complete and, in that situation, unless an alternative source of capital can be found, it is likely that the Company, or its principal creditors, will seek the appointment of an administrator.

Further announcements will be made as and when appropriate.

Enquiries:

 
                                           +44 (0) 1494 618 
 Avia Health Informatics Plc                503 
 Jeremy Dale, Chief Executive 
  Tim Morris, Managing Director 
 Allenby Capital (Nominated Adviser and 
  Broker)                                  +44 (0) 20 3328 5656 
 Nick Naylor 
  Mark Connelly 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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