RE: Placing12 Aug 2019 08:13
Feedback PLC
Proposed placing and subscription to raise £2m
RNS Number : 6399I
Feedback PLC
12 August 2019
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. Upon the publication of this announcement via Regulatory Information Service, this inside information is now considered to be in the public domain
Feedback plc
Proposed placing and subscription to raise £2 million, proposed grant of options, proposed amendment to Share Option Scheme and notice of General Meeting
Cambridge, 12 August 2019: Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist medical imaging technology company, announces that it has conditionally raised a total of £2 million (before expenses) via a proposed placing by Peterhouse Capital Limited and Stanford Capital Partners Limited, and a subscription of a total of 166,666,667 new ordinary shares in the Company ("New Ordinary Shares"), at an issue price of 1.2 pence per New Ordinary Share (the "Issue Price"), (the "Fundraise"). The Fundraise is subject to, inter alia, the approval of shareholders at a general meeting of the Company.
Fundraise Highlights:
? The Company has conditionally raised £2 million (before expenses) through the issue of the 166,666,667 New Ordinary Shares.
? The Placing and the Subscription are subject to, inter alia, shareholder approval at a general meeting of the Company on 29 August 2019. If approved, the New Ordinary Shares are expected to be admitted to on AIM on 30 August 2019.
? The Placing Price represents a discount of approximately 14.3% to the closing mid-market price of 1.4 pence per Ordinary Share on 9 August 2019.
? The net proceeds of the Placing and the Subscription will be used:
o To complete the development of the BleepaTM, the Company's clinical messaging product;
o To build a Sales/support team to market and onboard users onto the BleepaTM product; and
o For general working capital.
? The New Ordinary Shares will represent 30.78% of the issued share capital of the Company as enlarged by the Fundraise.
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