Avia Health Informatics PLC Statement re. Suspension (4486J)
16 Juli 2013 - 3:15PM
UK Regulatory
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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