LID.L Regulatory News (LID)

23 May 2006 16:10

For Immediate Release 23 May 2006 LiDCO Group plc ('LiDCO' or `the Company') Result of Extraordinary General Meeting in connection with the placing of 17,500,000 new Ordinary Shares of 0.5p each at a price of 20 pence per share (the `Placing'). LiDCO Group plc (AIM: LID), the cardiovascular monitoring company, is pleasedto announce that the resolution proposed at the Company's EGM held earliertoday relating to the placing of new ordinary shares was duly passed byshareholders.As a consequence, 17,500,000 Ordinary Shares in connection with the Placing areexpected to be allotted to institutional and other placees on behalf of theCompany by Panmure Gordon. Following the close of the Placing the Company willhave raised approximately GBP3.2 million after expenses which will be used forproduct development, to support market expansion and related working capitalrequirements and to reduce borrowings.Application has been made for these shares, which will rank pari passu withexisting shares in issue, to be admitted to AIM, and it is expected thatadmission will become effective at 08.00 on 24 May 2006. Following admission ofthe new ordinary shares to trading on AIM, the Company will have 118,071,850Ordinary Shares in issue.Commenting at the Meeting, Theresa Wallis, LiDCO's Chairman said, 'I amdelighted that shareholders have overwhelmingly supported this Placing and wenow look forward to using this strengthening in the Company's financial base tosupport its continuing sales growth in the fast-growing international marketfor minimally invasive cardiac monitoring'.For further information please contact:LiDCO Group Plc Tel: +44 (0)20 7749 1500Terry O'Brien - Chief ExecutiveHugh McGarel-Groves - Finance DirectorFinancial PR: Buchanan Communications Tel: +44 (0)20 7466 5000Tim Anderson, James StrongNominated Adviser and Broker: Panmure Gordon & Co Tel: +44 (0)20 7459 3600Aubrey Powell, Katherine Roe, Andrew CollinsENDSLIDCO GROUP PLC