Healthcare Locums gets buyout offer from top shareholders
Feb 6 (Reuters) - Britain's Healthcare Locums Plc, a health and social care recruiter, said it received an indicative joint proposal from its two largest shareholders to buy all the outstanding shares of the company they did not already own.
Toscafund Asset Management and Ares Capital Europe Ltd, which together own about 72.5 percent of the company, offered a cash consideration of at least 0.54 pence per share - Healthcare Locums' closing price on Tuesday.
Healthcare Locums warned last month that it was experiencing difficult trading conditions in both its geographic markets - the UK and Australia.
It said at that time that it would likely need additional capital funding in the next 12 months and added that it may not meet financial covenants for March and June 2013.
Toscafund and Ares plan to inject significant capital into the business following successful completion of an offer, subject to reaching an agreement with the company and its lenders, Healthcare Locums said in its statement on Wednesday.
The company, whose shares have lost about 83 percent of their value in the past year, had a market capitalisation of 4.6 million pounds ($7.2 million) based on the closing price of its stock on Tuesday.