Feb 6 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.