Flying Brands Limited Update on Product Development and Warrant Exercise (9634Q)
18 September 2017 - 4:00PM
UK Regulatory
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RNS Number : 9634Q
Flying Brands Limited
18 September 2017
FLYING BRANDS LIMITED
("Flying Brands" or the "Company")
Update on Product Development and Exercise of Warrants
Flying Brands (FBDU), the medical services and software company,
is pleased to announce an update on product development and the
exercise of warrants.
StoneChecker Prototype
Further to the announcement of 4 September 2017, our North
American contract manufacturer has now delivered the StoneChecker
software prototype and testing has now commenced.
StoneChecker Statistical Analysis
The statistical analysis of 600 stones from two centres (Oxford
Universities NHS Hospital, Oxford, UK and Peking Union Medical
College Hospital, Beijing, China) has now been completed. The
analysis shows that the software has a sensitivity of 94% and a
negative predictive value of 78% towards identifying patients most
likely to fail lithotripsy before treatment. Sensitivity is the
ability of a test to correctly identify those with the disease
(true positive rate) and a negative predictive value is the
probability that subjects with a negative screening test truly do
not have the disease.
Trevor Brown CEO of Flying Brands commented: "This result
materially exceeds expectations and has understandably delighted
the clinical team working on the StoneChecker medical imaging
software."
Exercise of Warrants
The Company has received notice to exercise warrants to
subscribe for 2,772,713 shares at a price of GBP0.011 per share
("Shares"). The Shares will rank pari passu with the Company's
existing issued ordinary shares.
Following this exercise of warrants, the Company has no
outstanding warrants.
An application will be made for admission of the Shares to
trading on the LSE and dealings in the Shares are expected to
commence on or around 8.00am 20 September 2017.
Total Voting Rights
Following Admission of the 2,772,713 Shares, the total number of
Shares in issue will be 67,559,434. The Company does not hold any
Shares in treasury. This figure may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under
the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
**ENDS**
For further information please contact:
Flying Brands Limited
Qu Li/Trevor Brown/Vinod Kaushal
Tel: 020 7469 0930
Peterhouse Corporate Finance
(Financial Adviser and Broker)
Lucy Williams/Heena Karani
Tel: 020 7220 9797
This information is provided by RNS
The company news service from the London Stock Exchange
END
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