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Healthcare Enterprise Group

  • BY: Andrew Hore |
  • POSTED: 21/12/2010 |

Healthcare Enterprise Group has asked for its shares to be suspended because it will not be able to publish its full year figures by the end of 2010.

Costs incurred in trying to buy a new business for the group mean that Healthcare Enterprise is short of cash and it can’t raise any more at the moment. The results for the year to June 2010 will not been published until the financial position is clarified.

The underlying business lost £394,000 in the six months to December 2009.

Healthcare Enterprise is classed as an investment company and it owns 21% of decontamination products supplier Ebiox and 27% of women’s health company Reproductive Sciences. John Honey has stepped down from the holding company board in order to concentrate on those two businesses. There is also a residual stake in First Aid Holdings.

Healthcare Enterprise raised £80,000 from a placing at 25p a share in May. At the same time £62,000 of money owed to creditors was swapped for shares.

The shares were suspended at 20.5p, which values Healthcare Enterprise at £1.31m.

Download the December edition of AIM Journal at http://www.hubinvest.com/AIMPDFDecember2010_15.pdf

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