C-Care raises Rs50million from doctors to ‘finance expansion’

Further to the Cautionary Announcement of June 9, 2021, the Board of Directors of C-Care (Mauritius) Ltd has announced that on 25 June 2021, the shareholders of the Company have approved the issue of up to a maximum of 500 Redeemable Preference Share at an issue price of Rs100,000 per Redeemable Preference Share, by way of private placement.

C-Care intends to raise new capital of up to MUR 50M to Eligible Practicing Doctors and its Eligible Senior Management. Such scheme, it said, has been devised to finance innovation and expansion in C-Care in line with its current strategy and to allow doctors and senior management to participate in the performance of the Company, alongside the existing ordinary shareholders.

By virtue of Section 117 of the Companies Act 2001, the approval of the shareholders has been sought by written resolution signed by the substantial shareholders of the Company, namely CIEL Limited and CIEL Healthcare Limited representing a total shareholding of 87.49% in C-Care.

A copy of the signed resolution would be forwarded to the remaining shareholders, the company said in a statement published by the Stock Exchange of Mauritius.

The Redeemable Preference Shares would not be listed on the Stock Exchange of Mauritius Ltd, it said.

Shareholders of C-Care and the investing public are advised to exercise caution when dealing in the shares of C-Care.