Trinity Capital Regulatory News (TRC)

20 Mar 2007 07:02

Trinity Capital PLC20 March 2007 20 March 2007 Trinity Capital PLC ("Trinity") Increases Strategic Shareholding in Fortis Healthcare Limited to 8 million shares Trinity is pleased to announce that it has increased its strategic shareholdingin Fortis Healthcare Limited ('FHL'), one of the largest private healthcarecompanies in India(1), by acquiring 6 million shares for £10.3 million in afurther pre-IPO placement, at a cost of INR 145 per share. In January 2007Trinity announced that it had agreed to acquire 2 million shares for £3.37million in a pre-IPO placement, also at a cost of INR 145 per share. Trinity'stotal shareholding in FHL will be 4.24%. FHL is a healthcare company based in Delhi with operations in Delhi, Noida,Mohali, Amritsar, Faridabad, Raipur and Srinagar. It was established in 1996 bythe promoters of Ranbaxy Laboratories. Trinity's increased investment gives it the option to develop three hotelsalongside Fortis's pipeline of hospital sites, as it expands its network fromits current base of 12. Trikona Capital will appoint an established hoteloperator to manage and operate the hotels. Medical tourism is one of the fastest growing sub sectors of the Indian serviceeconomy. A recent McKinsey study states that the Indian healthcare market isexpected to grow from $18.7billion to $45billion in the next six years.Approximately 180,000 patients arrived in 2004 from all over the world, and themedical tourism market was estimated at US$333million in 2004 and is expected togrow to $2 billion by 2012. Aashish Kalra, Managing Director of Trikona Capital, said: "Our increasedinvestment in Fortis has secured the option to develop three hotels alongsideFHL's future hospitals, this gives us considerable opportunity to tap into the growth potential of the healthcare industry. Apart from having an option to develop hotels along hospitals and healthcare facilities, this strategic relationship will also give rise to opportunities whereby Fortis may develop hospitals in our township developments. Increasing our investment in FHL further consolidates our presence in a sector that we believe is poised for rapid growth, and will also give us exposure to some of India's largest healthcare projects and the resulting spin-off opportunities to develop the surrounding real estate." ENDS Enquiries: Trikona Capital Aashish Kalra +91 11 2620 7257 Cardew Group Tim Robertson +44 20 7930 0777 Sofia Rehman Catherine Maitland (London) Gutenberg Communications Harjiv Singh (New York) +1 917 623 7793 Pranav Kumar (Delhi) +91 98100 77898 Numis Iain McDonald +44 20 7776 1567 Notes: • For further information and regular updates regarding the Fund'sactivities, please log on and sign up for news alerts at www.trinityplc.com This press release is not an offer for sale within the United States of anyequity shares or any other security of Fortis Healthcare Limited. Securities ofFortis Healthcare Limited, including any offering of equity shares, may not beoffered or sold in the United States absent registration under U.S. securitieslaws or an exemption from the registration requirements under such laws. Theproposed offering of Fortis Healthcare Limited securities described in thispress release has not been and will not be registered under U.S. Securitieslaws, and accordingly, any offer or sales of these securities may be made onlyin transaction exempt from registration. An offer of the GDSs has not been made and will not be made to the public in theUnited Kingdom within the meaning of section 102B of the Financial Services andMarkets Act 2000 (as amended) (FSMA) except to legal entities which areauthorized or regulated to operate in the financial markets or, if not soauthorized or regulated, whose corporate purpose is solely to invest insecurities or otherwise in circumstances which do not require the publication bythe company of a prospectus pursuant to the Prospectus Rules of the FinancialServices Authority (FSA). An invitation or inducement to engage in investmentactivity (within the meaning of section 21 of FSMA) has only been communicatedand will only be communicated to persons who have professional experience inmatters relating to investments falling with Article 19(5) of the FinancialServices and Markets Act 2000 (Financial Promotion) Order 2005 or incircumstances in which section 21 of FSMA does not apply to the company. Allapplicable provisions of FSMA has been and will be complied with regarding allactivity in relation to the GDSs in, from or otherwise involving the UnitedKingdom. -------------------------- (1) Based on the number of hospital beds according to CRIS-INFAC Report 2005. This information is provided by RNS The company news service from the London Stock Exchange