Last checked at 22 Mar 2017 07:00
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 OF AMERICA, CANADA, AUSTRALIA, JAPAN OR NEW ZEALAND OR INTO ANY OTHER JURISDICTION WHERE TO DO SO WOULD BREACH ANY APPLICABLE LAW OR REGULATION.
THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR CONTAIN ANY INVITATION, SOLICITATION, RECOMMENDATION, OFFER OR ADVICE TO ANY PERSON TO SUBSCRIBE FOR, OTHERWISE ACQUIRE OR DISPOSE OF ANY SECURITIES IN DELTEX MEDICAL GROUP PLC OR ANY OTHER ENTITY IN ANY JURISDICTION. NEITHER THIS ANNOUNCEMENT NOR THE FACT OF ITS DISTRIBUTION, SHALL FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH ANY INVESTMENT DECISION IN RESPECT OF DELTEX MEDICAL GROUP PLC.
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF ARTICLE 7 OF THE MARKET ABUSE REGULATION EU 596/2014 ("MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF THE MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION AS PERMITTED BY MAR. THAT INSIDE INFORMATION IS SET OUT IN THIS ANNOUNCEMENT AND HAS BEEN DISCLOSED AS SOON AS POSSIBLE IN ACCORDANCE WITH PARAGRAPH 7 OF ARTICLE 17 OF MAR. UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THE INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION IN RELATION TO THE COMPANY AND ITS SECURITIES.
22 March 2017
Deltex Medical Group plc
("Deltex Medical" or "the Company")
Share issues
Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring ("ODM"), today announces that it has raised £400,000 by means of a subscription for new ordinary shares of 1p each in the Company ("Ordinary Shares") (the "Subscription") by existing institutional and private shareholders. The Company has also issued shares to certain advisers as payment for services.
Highlights
· The Subscription for 11,696,551 new Ordinary Shares at a price of 3.625 pence per share (the "Subscription Price") raising £400,000 and also settling adviser's fees of £24,000; and
· The Subscription proceeds will be applied to working capital.
Application will be made for the 11,696,551 new Ordinary Shares to be admitted to trading on AIM. The shares will rank pari passu with the existing issued shares of the Company and dealings are expected to commence on 27 March 2017.
Upon Admission, the 11,696,551 new Ordinary Shares will represent 3.94% of the Company's enlarged issued share capital, being 296,631,733 Ordinary Shares (the "Enlarged Issued Share Capital") and the Company does not hold any shares in treasury.
This figure may be used by shareholders as the denominator for 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 FCA's Disclosure and Transparency Rules.
Confirmation of Directors shareholdings
Certain directors (or interests associated with them) have subscribed for 5,434,483 new Ordinary Shares.
The Directors' beneficial interests, following these subscriptions, are as follows:
Director | Number of Ordinary Shares subscribed for | Shareholding following Subscription |
% of Enlarged Issued Share Capital |
Nigel Keen | 4,137,931 | 26,193,780 | 8.83 |
Julian Cazalet | 606,897 | 7,063,020 | 2.38 |
Chris Jones | 275,862 | 525,862 | 0.18 |
Ewan Phillips | 275,862 | 2,921,051 | 0.98 |
Jonathan D Shaw | 137,931 | 262,931 | 0.09 |
Notice of results
To accommodate the timetable for this Subscription, the Company has moved the announcement of its results for the year ended 31 December 2016 to 24 April 2017.
Deltex Medical's chairman, Nigel Keen, commented:
"This fundraising will provide the Company with additional working capital as it moves to the operating cash break-even point."
Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
The following notifications are made in accordance with Article 19 of the EU Market Abuse Regulation
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Nigel Keen | ||||
2 | Reason for the notification | |||||
a) | Position/status | Chairman | ||||
b)
| Initial notification /Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Deltex Medical Group plc | ||||
b) | LEI | N/A | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code | Ordinary shares of 1p each in Deltex Medical Group plc
Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583 | ||||
b) | Nature of the transaction | Share subscription | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
4,137,931 3.625p | ||||
e) | Date of the transaction | 21 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Julian Cazalet | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director | ||||
b)
| Initial notification /Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Deltex Medical Group plc | ||||
b) | LEI | N/A | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code | Ordinary shares of 1p each in Deltex Medical Group plc
Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583 | ||||
b) | Nature of the transaction | Share subscription | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
606,897 3.625p | ||||
e) | Date of the transaction | 21 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Chris Jones | ||||
2 | Reason for the notification | |||||
a) | Position/status | Non-Executive Director | ||||
b)
| Initial notification /Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Deltex Medical Group plc | ||||
b) | LEI | N/A | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code | Ordinary shares of 1p each in Deltex Medical Group plc
Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583 | ||||
b) | Nature of the transaction | Share subscription | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
275,862 3.625p | ||||
e) | Date of the transaction | 21 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | |||||
a) | Name | Ewan Phillips | ||||
2 | Reason for the notification | |||||
a) | Position/status | Executive Director | ||||
b)
| Initial notification /Amendment | Initial | ||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |||||
a) | Name | Deltex Medical Group plc | ||||
b) | LEI | N/A | ||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |||||
a)
| Description of the financial instrument, type of instrument
Identification code | Ordinary shares of 1p each in Deltex Medical Group plc
Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583 | ||||
b) | Nature of the transaction | Share subscription | ||||
c) | Price(s) and volume(s) |
| ||||
d) | Aggregated information - Aggregated volume - Price |
275,862 3.625p | ||||
e) | Date of the transaction | 21 March 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
1 | Details of the person discharging managerial responsibilities / person closely associated | ||||||
a) | Name | Jonathan Shaw | |||||
2 | Reason for the notification | ||||||
a) | Position/status | Executive Director | |||||
b)
| Initial notification /Amendment | Initial | |||||
3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | ||||||
a) | Name | Deltex Medical Group plc | |||||
b) | LEI | N/A | |||||
4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | ||||||
a)
| Description of the financial instrument, type of instrument
Identification code | Ordinary shares of 1p each in Deltex Medical Group plc
Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583 | |||||
b) | Nature of the transaction | Share subscription | |||||
c) | Price(s) and volume(s) |
| |||||
d) | Aggregated information - Aggregated volume - Price |
137,931 3.625p | |||||
e) | Date of the transaction | 21 March 2017 | |||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | |||||
For further information, please contact:-
Deltex Medical Group plc | 01243 774 837 investorinfo@deltexmedical.com |
Nigel Keen, Chairman | |
Ewan Phillips, Chief Executive | |
Jonathan Shaw, Group Finance Director
| |
Nominated Adviser & Broker | |
Arden Partners plc | 020 7614 5900 |
Chris Hardie | |
Financial Public Relations | |
IFC Advisory Ltd | 0203 053 8671 |
Tim Metcalfe Graham Herring Heather Armstrong | |
Notes for Editors
Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's ODM is the only technology to measure continuously blood flow in the central circulation in real time. Minimally invasive, easy to set up and quick to focus, the technology generates a low-frequency ultrasound signal, which is highly sensitive to changes in flow and measures them immediately. Deltex has been the only company in the enhanced haemodynamic space to build a robust and credible evidence base proving the clinical and economic benefits of its core technology, ODM. Randomised, controlled trials using Doppler have demonstrated that early fluid management intervention will reduce post-operative complications, reduce intensive care admissions, and reduce the length of hospital stay.
Company goal
ODM is increasingly recognised as a standard of care for patients undergoing major surgery and in critical care. The broader clinical area of haemodynamic management of which ODM is a core constituent is also now becoming widely accepted as an important major new medical modality. Consequently, the Company's focus is on maximising value from the opportunities presented as enhanced haemodynamic management is adopted into routine clinical practice around the world.
The Company is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK, USA, Spain and Canada and through distribution arrangements in a further 30 countries.
There are over 3,200 monitors installed in hospitals around the world and around 700,000 patients have been treated to date using Deltex Medical's single patient disposable probes.