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Healthcare Locums plc Announce Result of General Meeting and Lifting of Suspension

Healthcare Locums plc Announce Result of General Meeting and Lifting of Suspension

On 19 August 2011, the Board of HCL announced a substantial refinancing of the Company, comprising a &pound60 million Placing, an Open Offer of up to &pound4.25 million, the Debt for Equity Conversion and the Debt Repayment and Restructuring (together referred to as the "Refinancing").

The Placing, the Open Offer, the Debt for Equity Conversion and the Debt Repayment and Restructuring are all conditional upon the approval of the Refinancing Resolutions by Shareholders at the General Meeting.

The Board of HCL is pleased to announce that all the Refinancing Resolutions proposed at the General Meeting held today were duly passed by Shareholders, as were all the Non-Refinancing Resolutions. The Board is therefore pleased to announce that the Refinancing is unconditional in all respects subject to Admission.

Valid applications were received under the Open Offer in respect of 9,450,971 New Ordinary Shares, which was less than the maximum of 42,505,790 New Ordinary Shares available under the Open Offer. Accordingly all such applications were accepted in full.

As a result of the above, the Company has requested that trading in the Ordinary Shares on AIM be restored. The restoration of trading of the Ordinary Shares is expected to take place at 7.30am on 13 September 2011. Application has been made to admit the total number of 734,450,971 New Ordinary Shares to be issued under the Placing, the Open Offer and the Debt for Equity Conversion to trading on AIM. Dealings in the New Ordinary Shares are expected to commence at 8.00am on 13 September 2011.

Following completion of the Refinancing, the number of Ordinary Shares in issue will become 847,799,742 on 13 September 2011.

The above figure (847,799,742 Ordinary Shares) may be used from 13 September 2011 by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, HCL under the FSA's Disclosure and Transparency Rules.

Capitalised terms in this announcement have the same meaning as in the Circular dated 19 August 2011.

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