Holding in Company & Directors' Interests

Fitbug Holdings Plc / Epic: FITB.L / Index: AIM / Sector: Leisure

21 March 2011

Fitbug Holdings Plc ('Fitbug' or 'the Company')

Holding in Company & Directors' Interests

Fitbug Holdings Plc, the AIM traded provider of online personal health and well-being services, has been informed today that Bupa Finance PLC ("Bupa") has agreed to dispose of its entire holding of 9,060,000 ordinary shares of 1 pence each in the Company ("Shares") to a newly incorporated company, NW1 Investments Limited ("NW1").

Following the purchase of the 9,060,000 Shares at 1.875 pence per share by NW1, certain shareholders of NW1 have informed the Company that they now have an interest in the Company as follows:

As part of the disposal of its interest in Shares, Bupa has agreed to assign the current outstanding loan due to it by the Company to NW1.

Allan Fisher (Chairman) and David Turner (Chief Executive) confirmed "We are very encouraged by the progress that the company is making and pleased to have the opportunity to increase our holding".

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Fitbug Holdings Plc is an AIM listed provider of innovative online personal health and well-being services. Its offering is based around a fitness 'bug' which allows users to monitor and analyse their lifestyle and exercise routine. This is integrated with online services that provide advice, information, recipe idea and progress reports to encourage a healthy lifestyle. 

The Company has an international blue-chip client base across various market sectors including private medical insurance, public and private sector workplace health, the NHS and online consumers. Its main focus is now on building partnerships with organisations which can integrate the service into their own service/product offerings or resell to their customer base. Current clients include The Vitality Group, Holmes Place International and PruHealth.