IHC Inspiration Healthcare Group Plc

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, AUSTRALIA, NEW ZEALAND, CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.

Inspiration Healthcare Group Plc

 ("Inspiration Healthcare" or the "Company")

Result of General Meeting and Total Voting Rights

On 26 June 2024, Inspiration Healthcare (AIM: IHC), the global medical technology company pioneering specialist intensive neonatal intensive care medical devices, announced (the "Launch Announcement") a conditional placing (the "Placing"), a Director and senior management Subscription (the "Subscription"), and an associated retail offer (the "Retail Offer").

The Company is pleased to announce that at its General Meeting held earlier today, all the resolutions set out in the circular dated 28 June 2024 were duly passed (the "Resolutions").

Further to this, the Company can now confirm that it will issue, pursuant to the Placing, the Subscription and the Retail Offer, 21,428,570 New Ordinary Shares at 14 pence per share, raising approximately £3.0 million in aggregate. The issue of New Ordinary Shares will be split as follows:

·    17,321,430 shares pursuant to the Placing, raising gross proceeds of approximately £2.4 million;

·    535,712 shares pursuant to the Subscription, raising gross proceeds of approximately £75,000; and

·    3,571,428 shares pursuant to the Retail Offer, raising gross proceeds of approximately £0.5 million.

As a result of the passing of the Resolutions, the Directors and senior management of the Company participating in the Capital Raising will hold the following Ordinary Shares in the capital of the Company on Admission:

*To be gifted to his children

The Company has applied to the London Stock Exchange for the 21,428,570 New Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that the Admission will occur at 8:00 a.m. on 23 July 2024.

Following Admission, the Company's issued share capital will comprise 89,663,372 ordinary shares of 10 pence each and that number 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 in their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules. The Company does not hold any shares in treasury.

Capitalised terms not defined in this announcement have the meanings given to them in the Launch Announcement.  

Commenting, Roy Davis, Interim Chief Executive of Inspiration Healthcare, said: "We're very pleased to have been able to complete this equity raise in challenging market conditions. The additional funds raised will enable us to reduce our net debt and will provide us with significant liquidity headroom. The Directors and Senior Management have participated in the raise, highlighting both our commitment to and belief in the Company. We would also like to thank our existing investors for their continued support. We look forward to a productive second half as we continue to execute our strategy."

Change of Name of Nominated Adviser and Broker

The Company's Nominated Adviser and Broker has changed its name to Panmure Liberum Capital Limited.

About Inspiration Healthcare Group plc

Inspiration Healthcare (AIM: IHC) designs, manufactures and markets pioneering medical technology. Based in the UK, the Company specialises in neonatal intensive care medical devices, which are addressing a critical need to help to save the lives and improve the outcomes of patients, starting with the very first breaths of life.

The Company has a broad portfolio of its own products and complementary distributed products, for use in neonatal intensive care designed to support even the most premature babies throughout their hospital stay. Its own branded products range from highly sophisticated capital equipment such as ventilators for life support through to single-use disposables.

The Company sells its products directly to hospitals and healthcare providers in the UK and Ireland, where it also distributes a range of advanced medical technologies for infusion therapy.  In the rest of the world the Company has an established network of distribution partners around the world giving access to more than 75 countries.

The Company operates in the UK from its world-class Manufacturing and Technology Centre in Croydon, South London and in the USA from its facility in Melbourne, Florida.

Further information on Inspiration Healthcare can be found at www.inspirationhealthcaregroup.com 

Note:

The information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU Regulation No. 596/2014) (as it forms part of United Kingdom domestic law by virtue of the European Union (Withdrawal) Act 2018) (the "UK MAR"). Upon the publication of this Announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain. If you have any queries on this, then please contact Alan Olby, Finance Director of the Company (the person responsible for arranging the release of this Announcement) on +44 (0)330 175 0000