MVH Medic Vision

    RNS Number : 7614K
  Medic Vision Limited
  24 December 2008
   


    Medic Vision Limited
    ("Medic Vision" or the "Company")
    Update re capital raising (the "Capital Raising")

    Medic Vision (ASX/AIM: MVH) is pleased to announce an update on the planned A$1,000,000 Capital Raising by Grindlays Capital Pty Ltd
("Grindlays"), as set out in the announcements of 15 October 2008 and 14 November 2008. 
    Grindlays has today confirmed to the Company that funds raised to date total A$600,000 (the "Committed Funds"). The director's of the
Company have agreed with Grindlays that the placing will be made at A$0.08, representing an issue of 7,500,000 new ordinary shares at A$0.08
per share, accompanied by 3,750,000 options, on a pro rata basis, to acquire further shares at a strike price of A$0.20, with an expiry date
of 17 January 2012.  
    Medic Vision has agreed to allow Grindlays until 29 December 2008 to receive the Committed Funds and until 5 January 2009 to receive
further funds, prior to the Company deciding whether to exercise its right under the Capital Raising underwriting agreement to require
Grindlays to take up the remaining stock. 
    Application will only be made for new ordinary shares of no par value and the listed options to be issued under the Capital Raising to
be admitted to trading on AIM and the ASX once the Company has decided whether to exercise this right.
    A further announcement will be made in due course.

    For further information contact:

 Ross Horley                               Tel: +61 3 8508 8288
 Managing Director                         Mob: +61 400 209 899
 Medic Vision
 Stuart Faulkner / Victoria Milne-Taylor  Tel: +44 20 7409 3494
 Strand Partners Limited
 Ruari McGuirr                            Tel: +44 20 7628 5582
 St Helen's Capital Plc

    Background on Medic Vision Limited
    Medic Vision is a technology based company specialising in the application of technology for surgical and medical skills training. Medic
Vision provides consulting services in the development of skills training centres as well as developing and deploying computer-based
surgical and medical high fidelity simulators. Medic Vision is listed in the UK on AIM with the ticker MVH and in Australia on the ASX with
the ticker MVH.

    Please see www.medicvision.com.au for more details on Medic Vision.
    Please see www.apollohospitals.com for more details on Apollo.

    

This information is provided by RNS
The company news service from the London Stock Exchange
 
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