TIDMDEMG
RNS Number : 6972L
Deltex Medical Group PLC
21 July 2017
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR NEW ZEALAND
OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY
APPLICABLE LAW OR REGULATION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT
CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMATION,
OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE
OR DISPOSE OF ANY SECURITIES IN DELTEX MEDICAL GROUP PLC OR ANY
OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE
FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON
IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF DELTEX
MEDICAL GROUP PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN
ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN
RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE
RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION
AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS
ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN
ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN
RELATION TO THE COMPANY AND ITS SECURITIES.
21 July 2017
Deltex Medical Group plc
("Deltex Medical" or "the Company")
Share placing
Deltex Medical Group plc (AIM: DEMG), the global leader in
Oesophageal Doppler Monitoring ("ODM"), today announces that it has
raised GBP550,000 by means of a placing of 16,296,296 new Ordinary
shares of 1p each in the Company ("Ordinary Shares") (the
"Placing") with existing and new private shareholders.
Highlights
-- The Placing of 16,296,296 new Ordinary Shares at a price of
3.375 pence per share, a discount of 10% from the closing
mid-market price on 20 July, raising GBP550,000
-- The Placing proceeds will be applied to working capital
-- The Company released today a trading update for the six
months ended 30 June 2017 showing a return to growth with revenues
7% ahead of the first half of 2016
-- In the last year, the Company has significantly reduced its
rate of cash consumption and enters the second half of the year
with traction in export markets driving overall sales growth,
higher margins and lower costs
-- The Company is also positioned for incremental returns from
investments made or substantially complete in new product
development. Two new products were released in the first half of
2017.
Application will be made for the 16,296,296 new Ordinary Shares
to be admitted to trading on AIM. The new Ordinary Shares will rank
pari passu with the existing issued shares of the Company and
dealings are expected to commence on 27 July 2017.
Upon Admission, the 16,296,296 new Ordinary Shares will
represent 5% of the Company's enlarged issued share capital, being
313,115,807 Ordinary Shares (the "Enlarged Issued Share Capital")
and the Company does not hold any shares in treasury.
This figure may be used by shareholders as the denominator for
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure and Transparency Rules.
Turner Pope Investments (TPI) Ltd ("TPI") acted as placing agent
for the Placing and will be appointed as Joint Broker to the
Company on admission of the new Ordinary Shares to trading on
AIM.
Confirmation of Director's shareholdings
Nigel Keen, Chairman, (or interests associated with him) has
subscribed for 1,629,630 new Ordinary Shares.
Nigel Keen's beneficial interests, following this subscription
is as follows:
Number of
Ordinary Shareholding % of Enlarged
Shares subscribed following Issued Share
Director for Subscription Capital
------------ ------------------- -------------- ----------------
Nigel Keen 1,629,630 27,823,410 8.89
------------ ------------------- -------------- ----------------
Deltex Medical's Chairman, Nigel Keen, commented:
"This fundraising will provide the Company with additional
working capital as it moves to the operating cash break-even
point.
Over the last year, the Company has made substantial progress
towards moving the business through the operating cash break-even
point. Sales traction in the USA and other export markets have
pulled the Company back into growth after a challenging period in
the UK market. We are benefiting from investments made over the
last three years in manufacturing efficiencies, US expansion and
new product development.
We are positioned to benefit further going forward from
substantially complete investments in further new product
developments which will complete our transition from a single
technology business to a provider of high quality, multi-technology
platforms."
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
The following notifications are made in accordance with Article
19 of the EU Market Abuse Regulation
1 Details of the person discharging managerial
responsibilities / person closely associated
---- -----------------------------------------------------------------
a) Name Nigel Keen
---- ---------------------------- -----------------------------------
2 Reason for the notification
---- -----------------------------------------------------------------
a) Position/status Chairman
---- ---------------------------- -----------------------------------
b) Initial notification Initial
/Amendment
---- ---------------------------- -----------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
---- -----------------------------------------------------------------
a) Name Deltex Medical Group plc
---- ---------------------------- -----------------------------------
b) LEI N/A
---- ---------------------------- -----------------------------------
4 Details of the transaction(s): section to
be repeated for (i) each type of instrument;
(ii) each type of transaction; (iii) each
date; and (iv) each place where transactions
have been conducted
---- -----------------------------------------------------------------
a) Description of Ordinary shares of 1p each
the financial instrument, in Deltex Medical Group
type of instrument plc
Identification Identification code (ISIN)
code for Deltex Medical Group
plc ordinary shares: GB0059337583
---- ---------------------------- -----------------------------------
b) Nature of the transaction Share subscription
---- ---------------------------- -----------------------------------
c) Price(s) and volume(s) Price(s) Volume(s)
--------- ----------
3.375p 1,629,630
--------- ----------
---- ---------------------------- -----------------------------------
d) Aggregated information
- Aggregated volume 1,629,630
- Price 3.375p
--------------------------------- -----------------------------------
e) Date of the transaction 21 July 2017
---- ---------------------------- -----------------------------------
f) Place of the transaction London Stock Exchange,
AIM Market (XLON)
---- ---------------------------- -----------------------------------
For further information, please contact:-
Deltex Medical Group 01243 774 837
plc investorinfo@deltexmedical.com
Nigel Keen, Chairman
Ewan Phillips, Chief
Executive
Jonathan Shaw, Group
Finance Director
Nominated Adviser &
Broker
Arden Partners plc 020 7614 5900
Chris Hardie
Ciaran Walsh
Financial Public Relations
IFC Advisory Ltd 0203 053 8671
Tim Metcalfe
Graham Herring
Heather Armstrong
Notes for Editors
Deltex Medical manufactures and markets haemodynamic monitoring
technologies. Deltex Medical's proprietary ODM is the only
technology to measure blood flow in the central circulation in real
time. Minimally invasive, easy to set up and quick to focus, the
technology generates a low-frequency ultrasound signal, which is
highly sensitive to changes in flow and measures them immediately.
Deltex has been the only company in the enhanced haemodynamic space
to build a robust and credible evidence base proving the clinical
and economic benefits of its core technology, ODM which is proven
to reduce complications suffered by patients after surgery and save
hospitals the costs of treating those complications.
Deltex Medical's CardioQ-ODM+ platform also now provides
clinicians with two further advanced haemodynamic monitoring
technologies. High Definition Impedance Cardiography is an entirely
non-invasive monitoring technology which creates an electrical
field across the chest and measures the disruption to this field
when the heart pumps blood. Pulse Pressure Waveform Analysis uses
peripheral blood pressure signal analysis to give doctors
information on changes in the circulation and is particularly
suited to monitoring lower risk or haemodynamically stable
patients.
Company goal
Haemodynamic management is now becoming widely accepted as an
important major new medical modality. Consequently, the Company's
focus is on maximising value from the opportunities presented as
enhanced haemodynamic management is adopted into routine clinical
practice around the world. The Company aims to provide clinicians
with a single platform, a 'haemodynamic workstation', which offers
them a range of technologies from simple to sophisticated to be
deployed according to the patient's condition and skill and
expertise of the user. Doing this will enable the Company to
partner healthcare providers to support modern haemodynamic
management across the whole hospital.
The Company is currently in the implementation phase of
achieving this goal in a number of territories worldwide, operating
directly in the UK, USA, Spain and Canada and through distribution
arrangements in a further 30 countries.
There are over 3,400 monitors installed in hospitals around the
world and around 700,000 patients have been treated to date using
Deltex Medical's single patient disposable products.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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