Tamaris equity discussions prolonged

Posted on September 1st, by editor in Caring Times. No Comments

Share dealings in Tamaris plc, suspended on the London stock Exchange in late September, remained so in mid-October while discussions continued with Omega Worldwide Inc. concerning a substantial equity injection into Tamaris. Omega owns 8.28% of the share capital of Tamaris and it is envisaged that an equity injection will be made by means of a placing with Omega at the current share price, subject to a clawback in favour of shareholders at the same price. Tamaris chief executive Barbara-Ann Maxwell told Caring Times that her company perceived the equity injection as being necessary to move the company forward. “We are still in discussions with Omega,” Ms Maxwell said. “Tamaris needs working capital to continue its programme and expand.” The company recently announced that its subsidiary, Tamaris (RAM) Ltd, had entered into new leases of seven homes previously operated by Grampian Care (Dundee) Ltd. The new owners, identified only as MM&S (2538) Ltd, have leased the homes to Tamaris on 30-year terms with no p

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