medivc vision and red paragon

Well, my goodness, what a floodtide of negativity from all the non-participants!

Actually looks a pretty good deal to me. Red Paragon has effectively achieved a very rapid and inexpensive 'back-door' listing as a public company.

Medic Vision has acquired a valuable asset with obvious synergistic advantages.

There is absolutely no implication from the acquisition that the ground-rules for the MVH's medical training centres have changed - Macau, and the Apollo-JV Indian centres are still progressing such that our partners are providing the physical ground-space, and we're providing fit-out and on-going training. Though with that said, MVH obviously now has added latitude for markets such as China and elsewhere, to both build and operate centres as a complete package.

So what's the significance of 87% ownership?

Well, I certainly don't see any conspiracy. I think as Zzedzz observed, the ASX rules stipulate that MVH can only issue 15% of new capital without shareholder approval. Lo & behold, 13.7m shares (for 87% Red Paragon) equates to about 15%! I guess an EGM will be called shortly to tidy up any loose ends.

Incidentally, on my reading, Zzedzz has it quite wrong with his pronouncement that yesterday's acquisition automatically puts paid to the Grindlays raising. Plainly the Company's need is no longer so pressing, but the fact is a Resolution was passed at the AGM in November approving the issue of shares to Grindlays. So both events can occur without the 15% rule being breached.


I guess in such difficult times it's hard to keep a level head. But I do wish folk here would be a tad more fair-minded and objective.