HEALTHCARE Locums shareholders defied rebel investors to vote in favour of a £60m fundraising plan tabled to repay the firm’s debt pile yesterday.
More than 50 per cent of shareholders supported the plan to raise the funds primarily from two large funds, Toscafund and Ares Capital, while only 16 per cent backed the rebels.
The result means HCL can pay down some of its £110m outstanding debt and its shares have been re-listed on the Alternative Investment Market today – but at 10p per share, far below the 112p price at which they were suspended in January after accounting irregularities came to light.
“The vote proved that the rebel shareholders never had the support they claimed. The company can now move on and focus on developing what is fundamentally a good business,” an HCL spokesman said.