31 Mar 2020 10:28
31 March 2020
AorTech International plc
("AorTech" or the "Company")
Result of General Meeting
And
Total Voting Rights
AorTech International plc (AIM: AOR), the licensor of the world's long-term implantable biostable polymer (Elast-EonTM) and developer of medical devices utilising the key properties of Elast-EonTM, announces that all resolutions put to Shareholders at the General Meeting held earlier today were duly passed.
Application has therefore been made for 1,500,000 new Ordinary Shares to be admitted to trading on AIM. Admission is expected to occur at 8.00 am on 1 April 2020.
Following Admission, the Company will have 16,186,608 Ordinary Shares in issue and admitted to trading on AIM. This figure 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 Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
As previously announced, following Completion, the Company intends to change its name to RUA Life Sciences plc. However, as announced on 25 March 2020, implementation will be delayed until the Company is satisfied that a normal service is available from Companies House. A further announcement will be made in due course.
Immediately following Completion, David Richmond will become Group Chief Executive Officer of AorTech.
This announcement should be read in conjunction with the full text of the Circular which was posted to Shareholders on 11 March 2020, copies of which are available on the Company's website at www.aortech.net. Capitalised terms in this announcement have the same meaning as given in the Circular.
This announcement contains inside information and is disclosed in accordance with the Company's obligations under the Market Abuse Regulation (EU) No 596/2014.
For further information contact:
AorTech International plc Tel: +44 (0)7730 718296
Bill Brown, Chairman
Shore Capital Tel: +44 (0)20 7408 4080
Tom Griffiths/David Coaten
About AorTech
AorTech has developed biostable, implantable polymers, including Elast-Eon™ and ECSil™, now manufactured on its behalf by Biomerics LLC in Utah, USA. Elast-Eon™ and ECSil™'s biostability is comparable to silicone while exhibiting excellent mechanical, blood contacting and flex-fatigue properties. These polymers can be processed using conventional thermoplastic extrusion and moulding techniques. With over 6 million implants and over 10 years of successful clinical use, AorTech polymers are proven in long term life enabling applications.
In addition to continuing to exploit AorTech's Intellectual Property related to Elast-Eon™, AorTech is now incorporating this material into a number of medical devices of our own design. Elast-Eon™ has first class long term blood contacting properties and, as a result, all of the initial products being developed are for the cardio vascular field. Each device is being designed to have improved clinical outcomes over current device technology, eliminating the use of animal sourced material whilst allowing procedures to remain the same, therefore avoiding having to retrain surgeons in new ways of operating.