Disposal of 76.25% of Sentinel Healthcare Solutions
Embargoed Release: 07:00hrs Tuesday 14th April 2009
Toumaz Holdings Limited
(`Toumaz Holdings' or the `Company')
Disposal of Majority Shareholding of
Sentinel Healthcare Solutions to Director
Toumaz Holdings, the specialist niche investor in emerging technologies with
strong commercial propositions for the healthcare and electronic sectors,
announces that it has disposed of 76.25 per cent. of its shareholding of
Sentinel Healthcare Solutions Ltd (`Sentinel') for a consideration of £25,000
to Neil Bryant, a director of Sentinel. Toumaz Holdings will retain a five per
cent. shareholding in Sentinel going forward. The decision by the Board to
dispose of the majority of its interest in Sentinel was taken to reflect the
Company's increased focus on its two primary investments Future Waves Pte.
Limited and the wholly-owned Toumaz Technology Limited.
As Sentinel is currently considered to be a subsidiary of Toumaz Holdings, this
transaction is a Related party transaction under Rule 13 of the Aim Rules for
Companies. The directors of Toumaz Holdings consider, having consulted with its
nominated adviser, that the terms of the transaction are fair and reasonable
insofar as the shareholders of Toumaz Holdings are concerned. For the year to
December 2008, Sentinel made a loss of £325,137.
Chris Toumazou, chairman of Toumaz Holdings, commented:
'We wish Neil Bryant well in his future endeavours with Sentinel and are
confident he can progress the company's commercial aspirations.'
For further information please contact:
Chris Toumazou
Toumaz Holdings Limited
Tel: +44 207 245 1100
Charles Cunningham/
Rose Herbert/
Sam Smith
FinnCap
Tel: +44 20 7600 1658
Vikki Krause
Hansard Group
Tel: +44 7515 922 906
END