LiDCO Group Plc (AIM:LID), the UK-based hemodynamic monitoring company, announces that 106,250 new ordinary shares have been issued and allotted to John Barry, Sales and Marketing Director of the Company, pursuant to an exercise of a share option with an exercise price of 0.5 pence per share under an unapproved scheme.
Application has been made for 106,250 new Ordinary Shares to be admitted to trading on AIM, which will rank pari passu with Company's existing Ordinary Shares, and admission is expected to become effective on 20 July 2011 ("Admission").
As a result of the issue and allotment of these shares, Mr Barry is now interested in 535,892 Ordinary Shares, representing 0.31% of the Company's issued share capital and also holds options over 3,380,767 Ordinary Shares.
Mr Barry has issued an instruction to sell, after Admission, strictly only such number of shares required solely to fund the income tax and national insurance liabilities arising on the exercise of the unapproved options. Such disposal will be notified separately.
Following admission of the new Ordinary Shares, the Company will have 174,105,304 Ordinary Shares in issue with each share carrying the right to one vote. There are no shares held in Treasury. The total number of voting rights in LiDCO is therefore 174,105,304. This number may be used by shareholders as the denominator for the calculation by which they may determine if they are required to notify their interest in, or a change in their interest in, LiDCO, under the Disclosure and Transparency Rules.
LiDCO is a supplier of minimally invasive hemodynamic equipment to hospitals, to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO's products facilitate the measurement, analysis, audit, training and sharing of real-time and historic hemodynamic data, in both critical care units and the operating theatre.
Scientific evidence is increasingly linking the optimisation of patients' hemodynamic status with better outcomes and reduced hospital stays and LiDCO's computer-based technology, developed at St Thomas' Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.
LiDCOplus: a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%)
LiDCOrapid: a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anesthetists to get accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being before, during and after surgery. The LiDCOrapid provides:
early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug
quantification of hemodynamic response,
guidance on effective delivery of fluids to ensure the right amount at the right time
LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.
All LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.
Clinical Validation & Education
LiDCO has been selected as the sole technology for two ongoing multi-centre government-funded studies in the UK and US. OPTIMISE is sponsored by the UK Government for optimising cardiovascular management in high-risk abdominal surgery patients and in the US, MOnIToR is a US Government sponsored transplantation donor organ optimisation study. The Company has also developed a hemodynamic workshop at St George's Hospital, London.
LiDCO Distribution Network:
LiDCO's strategy is to sell directly to hospitals in the UK, and through a network of specialty critical care and anesthesia distributors in the rest of the world.
LiDCO's sales office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM. For more information please see www.lidco.com.
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