6PM Holdings plc – Acquisition of Shareholding
6PM Holdings plc issued the following Company Announcement in compliance with the Listing Rules
By virtue of an agreement dated 1 January 2016, 6PM Holdings plc (hereinafter “6PM”) has agreed to acquire 609,501 Ordinary A Shares (collectively “the Shares”) in emCare360 Limited, a company incorporated under the Laws of Malta on the 3 June 2011 and bearing company registration number C 53050 (hereinafter “emCare360”) from CareMalta Group Limited, a company incorporated under the Laws of Malta and bearing company registration number C 15462.
The total consideration for the transfer of the Shares is of €549,501, payable in sixty (60) monthly instalments.
6PM already holds 609,499 Ordinary B Shares in emCare360 and following the acquisition of the Shares it will become the sole shareholder of emCare360.
This transaction, a Class 1 transaction for the purposes of the Listing Rules has been approved by the Audit Committee, in view of the fact that it is deemed to be a related party transaction.
emCare360 provides electronic and mobile care to (i) individuals (business to consumer) offering independence and peace of mind to its clients and to (ii) organisations (business to business) offering accountability, efficiency and visibility through its solutions. All services and products are integrated with a central repository that enables emCare360 to manage an Electronic Medical Record (EMR) for and on behalf of its customers.
emCare360 has been responsible for the Telecare Service in Malta in collaboration with GO p.l.c. since April 2013, servicing just under 10,000 households. emCare360 was also instrumental in the launching of the Telecareplus service which introduced the possibility of connecting a number of sensors to the service. Complementing the Telecare Service, emCare360 has also introduced a Vital Signs Monitoring service and this is being implemented and adopted by care providers in Malta, Italy and the UK. emCare360 has also launched a mobile service which is the natural evolution of the traditional telecare service.
The total gross assets and the losses of emcare360 as at 30 June 2015 are of €1,985,000 and €161,000 respectively. All personnel currently employed with emCare360 will be retained following the transfer of the Shares.
To view the official Company Announcement, click here.