TIDMFDBK
RNS Number : 3225J
Feedback PLC
29 March 2018
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
Feedback Plc
("Feedback" the "Company" or the "Group")
Equity Fundraising to raise GBP440,000
Cambridge, UK - 29 March 2018: Feedback plc ("Feedback" or the
"Company") (AIM: FDBK), the specialist medical imaging technology
company, is pleased to announce it has raised, in aggregate,
GBP440,000 before expenses through a subscription and placing of,
in aggregate, 35,200,000 new ordinary shares of 0.25 pence each in
the capital of the Company ("Ordinary Shares") at a price of 1.25
pence per share (the "Issue Price") (the "Fundraising"). The
Fundraising comprises a placing of 20,400,000 new Ordinary Shares
("the Placing Shares") via the Company's joint broker, Peterhouse
Corporate Finance Limited, and a subscription for a further
14,800,000 new Ordinary Shares ("the Subscription Shares"), both at
the Issue Price, with certain existing and new strategic
investors.
Use of Proceeds
Underpinned by a strategic focus on operational efficiencies,
the net proceeds from the Placing will be used to: invest in
marketing, sales and customer support to increase TexRAD(R) and
Cadran platform technology sales from distributors as well as
direct sales; develop the clinical evidence base following the
first CE marked release of the TexRAD(Ò) technology; further new
product development; and for general working capital purposes.
David Crabb, Chief Executive Officer of Feedback plc, commented:
"This fundraising will support the optimisation and expansion of
Feedback's operations, allowing us to leverage our two platform
technologies and increase our market presence. We have solid
foundations and deep domain expertise, and thanks to the support of
our new and long-term shareholders we are well-placed to position
Feedback at the forefront of innovation in the quantitative medical
imaging analysis field."
Directors' and Substantial Shareholder participation and
interests
Certain Directors have agreed to subscribe for Subscription
Shares at the Issue Price as per the table below (the "Directors'
Participation"). In addition, Tom Charlton, who currently holds
24.61 per cent. of the issued share capital of the Company, has
agreed to subscribe for 8,800,000 Subscription Shares at the Issue
Price.
Director/Shareholder Number of Subscription Beneficial Percentage of
Shares subscribed shareholding Ordinary Shares
for following held following
completion completion of
of the Fundraising the Fundraising
Dr Alastair
Riddell 1,000,000 6,000,000 2.13
David Crabb 1,000,000 1,000,000 0.36
Tom Charlton 8,800,000 69,437,408 24.66
The Directors' Participation and the subscription by Tom
Charlton, who is a substantial shareholder of the Company, are
regarded as related party transactions under the AIM Rules. The
Directors, other than Alastair Riddell and David Crabb, having
consulted with the Company's nominated adviser, Allenby Capital
Limited, consider the terms of the Directors' Participation and the
subscription by Tom Charlton to be fair and reasonable insofar as
the Company's shareholders are concerned.
On Admission, the shareholdings of the other directors who hold
shares in Feedback will be as follows:
Holding of Ordinary Percentage of enlarged
Director Shares share capital
Dr Balaji Ganeshan (Executive
Director) 2,860,000 1.02%
Mike Hayball (Executive
Director) 5,670,600 2.01%
Admission of the Subscription and Placing Shares
Once issued, the Subscription Shares and Placing Shares will
rank pari passu with the existing Ordinary Shares. Application will
be made for the Subscription Shares and Placing Shares to be
admitted to trading on the AIM market ("Admission") and dealings
are expected to commence on 6 April 2018.
Total Voting Rights
Following Admission, there will be 281,616,584 Ordinary Shares
in issue. The figure of 281,616,584 Ordinary Shares may be used by
shareholders 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 Company under the Disclosure and
Transparency Rules.
Notification and public disclosure of transactions by persons
discharging managerial responsibilities and persons closely
associated with them.
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------
a) Name Dr Alastair Riddell
--- ----------------------- ------------------------------
2 Reason for the notification
--- -------------------------------------------------------
a) Position/status Non-Executive Chairman
--- ----------------------- ------------------------------
b) Initial notification Initial notification
/Amendment
--- ----------------------- ------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------
a) Name
--- ----------------------- ------------------------------
b) LEI 213800UGOF2GT2U2RV90
--- ----------------------- ------------------------------
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 Ordinary shares of 0.25p each
of the financial in Feedback plc
instrument,
type of instrument Identification code (ISIN)
Identification for GB0003340550
code
--- ----------------------- ------------------------------
b) Nature of the Purchase of shares
transaction
--- ----------------------- ------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) --------- ----------
1.25p 1,000,000
--------- ----------
--- ----------------------- ------------------------------
d) Aggregated information N/A
- Aggregated
volume
- Price
--- ----------------------- ------------------------------
e) Date of the 28 March 2018
transaction
--- ----------------------- ------------------------------
f) Place of the London Stock Exchange, AIM
transaction (XLON)
--- ----------------------- ------------------------------
1 Details of the person discharging managerial
responsibilities / person closely associated
--- -------------------------------------------------------
a) Name David Crabb
--- ----------------------- ------------------------------
2 Reason for the notification
--- -------------------------------------------------------
a) Position/status Chief Executive Officer
--- ----------------------- ------------------------------
b) Initial notification Initial notification
/Amendment
--- ----------------------- ------------------------------
3 Details of the issuer, emission allowance
market participant, auction platform, auctioneer
or auction monitor
--- -------------------------------------------------------
a) Name
--- ----------------------- ------------------------------
b) LEI 213800UGOF2GT2U2RV90
--- ----------------------- ------------------------------
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 Ordinary shares of 0.25p each
of the financial in Feedback plc
instrument,
type of instrument Identification code (ISIN)
Identification for GB0003340550
code
--- ----------------------- ------------------------------
b) Nature of the Purchase of shares
transaction
--- ----------------------- ------------------------------
c) Price(s) and Price(s) Volume(s)
volume(s) --------- ----------
1.25p 1,000,000
--------- ----------
--- ----------------------- ------------------------------
d) Aggregated information N/A
- Aggregated
volume
- Price
--- ----------------------- ------------------------------
e) Date of the 28 March 2018
transaction
--- ----------------------- ------------------------------
f) Place of the London Stock Exchange, AIM
transaction (XLON)
--- ----------------------- ------------------------------
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
The Market Abuse Regulation (MAR) became effective from 3 July
2016. Market soundings, as defined in MAR, were taken in respect of
the Placing with the result that certain persons became aware of
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.
Therefore, those persons that received inside information in a
market sounding are no longer in possession of inside information
relating to the Company and its securities.
Notes to editors
About Feedback plc
Feedback plc is a specialist medical imaging technology company.
It develops software and systems that provide innovative techniques
and improved workflows for practitioners involved in medical
research and treating patients. TexRAD(R) , the Company's patented
quantitative image texture analysis technology, has the potential
to assist clinicians in diagnosis, prognosis and treatment of
patients with cancer and is currently installed in over 40 of the
world's leading research institutions across Europe, North America,
Asia and Australasia. The Cadran platform provides a suite of
medical imaging tools for decision support. The Cadran range
includes the picture archiving communication system (PACS) to
provide decision support for scan analysis, diagnostic workstations
which provide secure remote access to view scans on demand, and
products to securely share and transport patient data. Visit
www.fbk.com.
For further information, please contact:
Feedback plc Tel: 01954 718072
David Crabb, Chief Executive Officer IR@fbk.com
Lara Mott, Investor Relations
Allenby Capital Limited (Nominated Tel: 020 3328
Adviser and Joint Broker) 5656
David Worlidge / Asha Chotai
Northland Capital Partners Ltd Tel: 020 3861
(Joint Broker) 6625
David Hignell / John Howes
Peterhouse Corporate Finance Ltd Tel: 020 7469
(Joint Broker) 0936
Lucy Williams / Duncan Vasey
This information is provided by RNS
The company news service from the London Stock Exchange
END
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