14 Apr 2009 07:00
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
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