LifeStar Holding plc - Update to Share Purchase Agreement

On 16 September, GlobalCapital plc announced  that the share purchase agreement entered into by EIP plc with the intention of acquiring the 48.5% stake of BAI Co (Mtius) Ltd expired on 10 September 2015 and that by such date not all the completion conditions were fulfilled. Additionally, no further communication has been received from BAI in this respect and no new agreement has so far been executed between EIP and BAI. Therefore, the Company is informed that the original transaction contemplated in the aforementioned Share Purchase Agreement has not been completed.

Nonetheless, the Company is also informed that EIP is still intent on acquiring a shareholding in the Company. Additionally EIP remains willing to support the Company up to the sum of €15 million in any capital increases which the Company intends to make.

Based on the above, the Directors of GlobalCapital plc still consider the adoption of the going concern basis as appropriate. However, this or any other future judgment cannot be viewed as a guarantee regarding future events or conditions which cannot be predicted.