HCFII invests in QR Sciences Holdings Ltd (“QRS”)

Helmsman announced its third investment in HCFII, with a PIPE (Private Investment in Public Equity) into ASX listed QRS. Helmsman’s investment has been structured in three tranches with senior secured debt, equity placement and underwriting a rights issue giving HCF II 23% ordinary equity in QRS.

QRS Board and management has during 2009 reviewed the business and strategy in recognition of the strong growth profile being experienced by its Q Video, Q Detection and Q Alarms businesses. Helmsman is delighted to be able to assist QRS in recapitalizing its balance sheet to provide a solid base for supporting its future growth aspirations. QRS currently has 40+ employees operating nationally across Australia.  Additionally, it has a substantial shareholding in US listed Spectrum Inc.