MVH Medic Vision

 

TIDMMVH 
 
RNS Number : 9305C 
Medic Vision Limited 
23 November 2009 
 

Medic Vision Limited 
("Medic Vision" or the "Company") 
 
 
 
 
Proposed Acquisition of cBox Pty Ltd 
 
 
London, 23 November 2009 
 
 
Following the Company's market update on the 26 October 2009, the Board has 
assessed both companies with which it has signed Heads of Agreements. The first 
was the proposed purchase of 100% of the issued share capital in a digital 
marketing and communications business and the other was for the proposed 
purchase of 51% of the issued share capital in a company that was synergistic 
with the Company's subsidiary, Red Paragon Pty Limited. The Company decided not 
to proceed with the latter acquisition following the due diligence process. 
 
 
The Board of Medic Vision is however pleased to announce that it has 
successfully completed its due diligence of the digital marketing and 
communications company, cBox Pty Ltd ("cBox"), and is proposing to enter into an 
agreement to acquire cBox subject to shareholders approving Resolution 13 at the 
upcoming Annual General Meeting scheduled for 3pm (EDST) on the 7 December 2009. 
Resolution 13 seeks shareholder approval for the issue of up to 100 million 
ordinary shares in the capital of the Company (the "Ordinary Shares") for 
strategic acquisitions, of which the proposed cBox acquisition is one. 
 
 
cBox is an innovative digital marketing and communications business offering 
cost effective digital marketing and communication solutions on a global scale 
via fax, email, mobile phone/sms and Interactive Voice Recognition (IVR). It is 
anticipated that cBox's services and systems will provide Medic Vision with low 
cost marketing and communications functions to the geographically diverse global 
territory within which it operates. 
 
 
Medic Vision has tried to cover the China/Asia and UK/Europe territories with 
traditional marketing approaches for years. However, the high operational costs 
and slow response rates associated with traditional marketing activities have 
not been profitable. The Board of Medic Vision believes that cBox is able to 
provide Medic Vision with targeted marketing and communications solutions on a 
low cost basis so that the Company has the best opportunity to deliver results 
from its businesses. 
 
 
It is proposed that Medic Vision will issue approximately 45,000,000 fully paid 
Ordinary Shares as consideration for the acquisition of cBox followed by the 
issue of up to approximately 18,000,000 additional fully paid Ordinary Shares if 
and when the holders of the Medic Vision convertible notes (as announced on 3 
August 2009), convert the notes into Ordinary Shares. All Ordinary Shares issued 
for the acquisition of cBox will be held in escrow for a period of 12 months 
from the date of issue. 
 
 
As part of the proposed transaction, the CEO of cBox, Jason Edwards, will join 
the Board of Medic Vision. The Board confirms that the transaction is not a 
related party transaction. 
 
 
A further announcement in respect of this proposed acquisition will be made in 
due course. 
 
 
For further information contact: 
 
 
+--------------------------------------+---------------------------------------+ 
| Vince Leone                          | Email: vince.leone@medicvision.com.au | 
| Chief Executive Officer & President  |                  Mob: +61 421 054 140 | 
| Medic Vision                         |                                       | 
+--------------------------------------+---------------------------------------+ 
| Stuart Faulkner / David Altberg      |                 Tel: +44 20 7409 3494 | 
| Strand Hanson Limited                |                                       | 
+--------------------------------------+---------------------------------------+ 
| Ruari McGirr                         |                 Tel: +44 20 7628 5582 | 
| Astaire Group Plc                    |                                       | 
+--------------------------------------+---------------------------------------+ 
 
 
Background on Medic Vision Limited 
Medic Vision is a technology based company specialising in the application of 
technology for surgical and medical skills training. Medic Vision provides 
consulting services in the development of skills training centres as well as 
developing and deploying computer-based surgical and medical high fidelity 
simulators. 
See www.medicvision.com.au for more details 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 ACQZGMZMZFFGLZM 
 

Medic Vision (LSE:MVH)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Medic Vision (LSE:MVH)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024