Last checked at 21 Jul 2017 07:01
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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.聽
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21 July 2017
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Deltex Medical Group plc
("Deltex Medical" or "the Company")
Share placing
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Deltex Medical Group plc (AIM: DEMG),聽the global leader in Oesophageal Doppler Monitoring ("ODM"), today announces that it has raised 拢550,000 by means of a placing of 16,296,296 new Ordinary shares of 1p each in the Company ("Ordinary Shares") (the "Placing") with existing and new private shareholders.
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Highlights
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路 The Placing of 16,296,296 new Ordinary Shares at a price of 3.375 pence per share, a discount of 10% from the closing mid-market price on 20 July, raising 拢550,000
路 The Placing proceeds will be applied to working capital
路 The Company released today a trading update for the six months ended 30 June 2017 showing a return to growth with revenues 7% ahead of the first half of 2016
路 In the last year, the Company has significantly reduced its rate of cash consumption and enters the second half of the year with traction in export markets driving overall sales growth, higher margins and lower costs
路 The Company is also positioned for incremental returns from investments made or substantially complete in new product development. Two new products were released in the first half of 2017.
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Application will be made for the 16,296,296 new Ordinary Shares to be admitted to trading on AIM. The new Ordinary Shares will rank pari passu with the existing issued shares of the Company and dealings are expected to commence on 27 July 2017.
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Upon Admission, the 16,296,296 new Ordinary Shares will represent 5% of the Company's enlarged issued share capital, being 313,115,807 Ordinary Shares (the "Enlarged Issued Share Capital") and the Company does not hold any shares in treasury.
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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.
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Turner Pope Investments (TPI) Ltd ("TPI") acted as placing agent for the Placing and will be appointed as Joint Broker to the Company on admission of the new Ordinary Shares to trading on AIM.
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Confirmation of Director's shareholdings
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Nigel Keen, Chairman, (or interests associated with him) has subscribed for 1,629,630 new Ordinary Shares.
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Nigel Keen's beneficial interests, following this subscription is as follows:
Director | Number of Ordinary Shares subscribed for | Shareholding following Subscription | 聽 % of Enlarged Issued Share Capital |
Nigel Keen | 1,629,630 | 27,823,410 | 8.89 |
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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.
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Over the last year, the Company has made substantial progress towards moving the business through the operating cash break-even point. Sales traction in the USA and other export markets have pulled the Company back into growth after a challenging period in the UK market. We are benefiting from investments made over the last three years in manufacturing efficiencies, US expansion and new product development.
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We are positioned to benefit further going forward from substantially complete investments in further new product developments which will complete our transition from a single technology business to a provider of high quality, multi-technology platforms."
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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.
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The following notifications are made in accordance with Article 19 of the EU Market Abuse Regulation
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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) 聽 | Initial notification /Amendment | Initial | ||||
3 聽 | 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 聽 | 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) 聽 | Description of the financial instrument, type of instrument 聽 Identification code | Ordinary shares of 1p each in Deltex Medical Group plc 聽 Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583 | ||||
b) | Nature of the transaction | 聽Share subscription | ||||
c) | Price(s) and volume(s) |
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d) | Aggregated information - Aggregated volume - Price | 聽 1,629,630 3.375p | ||||
e) | Date of the transaction | 21 July 2017 | ||||
f) | Place of the transaction | London Stock Exchange, AIM Market (XLON) | ||||
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For further information, please contact:-
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Deltex Medical Group plc | 01243 774 837 investorinfo@deltexmedical.com |
Nigel Keen, Chairman | |
Ewan Phillips, Chief Executive | |
Jonathan Shaw, Group Finance Director 聽 | |
Nominated Adviser & Broker | |
Arden Partners plc | 020 7614 5900 |
Chris Hardie | |
Ciaran Walsh | |
Financial Public Relations | |
IFC Advisory Ltd | 0203 053 8671 |
Tim Metcalfe Graham Herring Heather Armstrong | |
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Notes for Editors
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Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's proprietary ODM is the only technology to measure 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 which is proven to reduce complications suffered by patients after surgery and save hospitals the costs of treating those complications.
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Deltex Medical's CardioQ-ODM+ platform also now provides clinicians with two further advanced haemodynamic monitoring technologies. High Definition Impedance Cardiography is an entirely non-invasive monitoring technology which creates an electrical field across the chest and measures the disruption to this field when the heart pumps blood. Pulse Pressure Waveform Analysis uses peripheral blood pressure signal analysis to give doctors information on changes in the circulation and is particularly suited to monitoring lower risk or haemodynamically stable patients.
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Company goal
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Haemodynamic management is 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 aims to provide clinicians with a single platform, a 'haemodynamic workstation', which offers them a range of technologies from simple to sophisticated to be deployed according to the patient's condition and skill and expertise of the user. Doing this will enable the Company to partner healthcare providers to support modern haemodynamic management across the whole hospital.
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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.
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There are over 3,400 monitors installed in hospitals around the world and around 700,000 patients have been treated to date using Deltex Medical's single patient disposable products.