African Medical Investments announced Friday it is in the advanced stages of agreeing a financing solution with short-listed potential new investors.

The AIM-listed healthcare company said the funds are needed to secure its future capital requirements.

In the meantime, the company has received additional debt funding to meet its short-term working capital requirements.

"Whilst working capital remains very tight at the moment, the board are working hard and are confident of securing a financing solution for the benefit of all our shareholders," said African Medical Chief Executive Officer, Peter Botha.

"In addition, we continue to have the support of Harbinger and are in final discussions to convert existing loan notes to improve our balance sheet structure."

Shares plunged 25% to 0.30p at 14:25 Friday in the firm which provides healthcare at private hospitals across Africa and has hospitals in Tanzania, Mozambique and Zimbabwe.

RD

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