Last checked at 30 Oct 2009 11:03
30 October 2009
Deltex Medical Group plc
("Deltex Medical" or the "Company")
Result of General Meeting
On 14 October 2009 Deltex Medical Group plc, the global leader in oesophageal Doppler monitoring ("ODM"), announced the conditional placing of 22,222,222 new ordinary shares of 1p each ("Ordinary Shares") in the Company (the "Placing"). The Placing was conditional, inter alia, upon the Company obtaining approval from its shareholders to grant the Directors authority to allot the Ordinary Shares and to disapply statutory pre-emption rights (the "Resolutions"). In this connection, a General Meeting ("GM") of Deltex Medical shareholders was held at 9.00 a.m. today.
Deltex Medical is pleased to announce that the Resolutions were approved at the GM.
Accordingly, application has been made for these shares to be admitted to trading on AIM. The shares rank pari passu with the existing issued shares of the Company and dealings are expected to commence on 2 November 2009.
Following this, the total number of voting rights in issue will be 124,598,597.
For further information, please contact:-
Deltex Medical Group plc 01243 774 837
Nigel Keen, Chairman njk@deltexmedical.com
Ewan Phillips, Chief Executive eap@deltexmedical.com
Paul Mitchell, Finance Director pjm@deltexmedical.com
Nominated Adviser & Broker
Arden Partners plc 020 7398 1600
Chris Hardie chris.hardie@arden-partners.com
Matthew Armitt matthew.armitt@arden-partners.com
Kreab Gavin Anderson 020 7554 1400
Deborah Walter dwalter@kreabgavinanderson.com
Robert Speed rspeed@kreabgavinanderson.com
Notes for Editors
Deltex Medical manufactures and markets the CardioQ-ODM(TM) monitor, which uses
disposable ultra-sound probes inserted into the oesophagus to determine the amount of blood being pumped around the body - 'circulating blood volume'.
Reduced circulating blood volume is known as hypovolaemia, which leads to insufficient oxygen being delivered to the organs. This causes medical complications including peripheral and major organ failure which can lead to death. Hypovolaemia, which is akin to severe dehydration, affects virtually every patient having surgery because of the combined effects of pre-operative starvation, the impact of the anaesthetic agents and trauma from the surgery itself. Using fluids and drugs, guided by the CardioQ-ODM, to optimise the amount of circulating blood significantly reduces post-operative complications allowing patients to make a faster, more complete recovery and return home earlier.
The CardioQ-ODM incorporates the Company's proprietary software and a small diameter, easy-to-use, minimally invasive, disposable oesophageal probe that is used for transmitting and receiving an ultra-sound signal. By using this technology, the CardioQ-ODM provides clinicians with the ability to haemodynamically optimise critically ill patients and those undergoing routine moderate to major surgery through the controlled administration of fluid and drugs. Haemodynamic optimisation has been scientifically proven to improve the speed and quality of patient recovery and reduce hospital stay.
There are already over 1,750 CardioQ-ODMs currently in use in hospitals worldwide and distribution arrangements are in place in over 30 countries. In addition, there are currently more than 200 clinical publications on the use of the CardioQ-ODM which have repeatedly:-
* Validated the results of the Monitor against known standards for measuring cardiac output, demonstrating that the technology works
* Proved that the CardioQ-ODM works in a wide range of surgical procedures
* Demonstrated that the Company's technology provides significant health and economic benefits by helping to reduce post-operative complications and length of hospital stays by an average of 30 to 40 per cent for a wide range of patients.
The SupraQ(TM) is an entirely non-invasive device which uses an ultrasound probe held at the base of the patient's neck to track the flow of blood in the aorta; it presents the same data as the CardioQ-ODM in a similar format and is used for taking snapshots or monitoring over short periods.