MDY Mdy Healthcare

TIDMMDY

RNS Number : 9746A

MDY Healthcare PLC

05 April 2012

MDY Healthcare plc

("MDY" or the "Company")

Court Hearing Continued and Postponement of the Capital Return

5 April 2012: Further to the announcement on 3 April 2012 regarding the continuance of the court hearing in connection with the proposed cancellation of the Company's share premium account and reduction of capital (and incorporating a return of capital to shareholders) ("the Capital Reduction"), the hearing reconvened today in the Court of Session in Edinburgh. After hearing further representations from the Company, the Court continued the petition again until a date to be confirmed later this month to allow for further notification to interested parties.

As a result of this continuation, the Directors of Company consider it prudent in the circumstances to postpone the cancellation of the admission to trading of the Ordinary Shares on AIM pending the further Court hearing. As such, today will not be the last day of trading of the Ordinary Shares on AIM. Since the re-registration of the Company as a private company is conditional upon de-listing taking effect, this will also be postponed accordingly.

With completion of the Capital Reduction having been delayed, the Company is currently unable to return of 52 pence per Ordinary Share to qualifying Shareholders pending the further Court hearing and the receipt of the relevant approval.

The Company will provide a further update to shareholders in due course.

For further information, please contact:

 
MDY Healthcare plc 
Grahame Cook, Chairman                                 +44 (0) 20 3178 5925 
 
Zeus Capital Limited (Nomad) 
Ross Andrews, Andrew Jones                      +44 (0) 161 831 1512 
 
 

Notes for editors:

About MDY Healthcare

MDY Healthcare plc is a sector specialised strategic investing company quoted on AIM (ticker symbol: MDY). Further information can be found on the website www.mdyhealthcare.com.

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