REG - HealthBeacon PLC HealthBeacon - HBCN - High Court confirms Scheme of Arrangement
01/02/2024 13:15
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RNS Number : 7460B HealthBeacon PLC 01 February 2024
High Court Confirms the Scheme of Arrangement
Cancellation of Existing Shares and Cancellation from Euronext Growth Markets
Dublin, 1 February 2024. The board of HealthBeacon plc ("HealthBeacon" or
the "Company) announces an update on the Examinership process the Company is
currently going through.
Further to the announcement made on 31 January 2024, a hearing before the High
Court took place on 1 February 2024 seeking the sanction from the High Court
of the Scheme of Arrangement which had been formulated by the Examiner to
enable the Company to survive as a going concern.
The Scheme of Arrangement has now been approved by the High Court which has
set 2pm on 2 February 2024 as the Effective Date for the implementation.
Accordingly at that time, the Scheme will become binding on the shareholders
and creditors of the Company.
On 2 February 2024 the interest of the shareholders in the total issued share
capital of the Company will be cancelled. The shareholders shall receive no
distribution on account of their shares and the existing shares and all and
any rights attaching or relating thereto will be cancelled. Any rights and /
or entitlements of the shareholders as members of the Company pursuant to the
articles of association of the Company or any other document, or otherwise,
shall cease as of 2 February 2024.
At 7am on 5 February 2024 the admission to trading on Euronext Growth will be
cancelled.
-Ends-
Enquiries: Investor.Relations@HealthBeacon.com
(mailto:Investor.Relations@HealthBeacon.com)
HealthBeacon:
Rebecca Shanahan
Kieran Daly
Lar Malone
Goodbody (Euronext Listing Sponsor and Broker): +353 (1) 667 0420
Finbarr Griffin
Drury (Public Relations):
Cathal Barry +353 (0) 87 227 9281
Gavin McLoughlin +353 (0) 86 035 3749
About HealthBeacon
Headquartered in Dublin, HealthBeacon is an Irish digital therapeutics company
that develops smart tools for managing medications for patients in the home.
The HealthBeacon Injection Care Management System tracks adherence and
persistence with medication schedules through the provision of medication
management reminders, safe and sustainable sharps disposal devices,
educational tools, and artificial intelligence (AI) driven data analytics.
Peer reviewed evidence supports a 19% improvement in therapy persistence by
patients and up to 26% improvement in adherence to therapy, which improves
clinical outcomes and significantly improves efficiency in health systems. The
Company has expanded its offering to growth management with the launch of its
integrated Smart Scale and oral adherence with the launch of HB Wave which
integrates with its existing technology. The Company operates across Europe,
North America and the United Kingdom. The Company's mission is to become the
world's leading digital therapeutics platform for patients managing
medications in the home.
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