Ultrasis Plc Regulatory News (ULT)

Ultrasis plc

("Ultrasis" or the "Company")

Suspension of trading in the Company's shares.

As announced on 17 March 2015, the Company has posted a circular to shareholders with regards a proposed Fundraising that comprises a Subscription for New Ordinary Shares, Open Offer of New Ordinary Shares and New Facility Agreement. In aggregate, the Fundraising and New Facility will raise up to £5.375 million

The Circular also included details of a Share Capital Reorganisation, Waiver of obligation under Rule 9 of the City Code on Takeovers and Mergers and Change of Name to 365 Health Solutions plc. The Fundraising cannot proceed without Independent Shareholder consent being obtained to approve the Waiver.

The proposed Fundraising and refinancing is significantly reliant upon Mr Paul Bell, Ultrasis's largest shareholder. The Company remains reliant on Mr Bell to meet its future working capital needs, but has not been able to confirm with absolute certainty if Mr Bell remains able to proceed with the proposed Fundraising.

As a result, the Directors believe that, without the additional funding that would be made available to the Company via the Proposals or any other material injection of funds, the Company will not have sufficient funds to enable it to continue to trade. Accordingly, the Directors of the Company have requested suspension of its shares pending clarification of its financial position and the ability of Mr Bell to proceed with the proposed Fundraising.

The shareholder meeting to approve the proposed refinancing is scheduled for 14 April 2015.

The Company will update shareholders as further information becomes available.

Unless otherwise defined, all capitalised terms in this announcement shall have the meaning given to them in the Circular, which was posted to shareholders on 17 March 2015 and details of which were announced on that date

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