Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSphere Medical Holding Regulatory News (SPHR)

  • There is currently no data for SPHR

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Results of open offer

29 Apr 2015 07:00

RNS Number : 6211L
Sphere Medical Holding plc
29 April 2015
 

29 April 2015

 

Sphere Medical Holding plc

Result of Open Offer

 

Cambridge, UK, 29 April 2015: Sphere Medical Holding plc (AIM: SPHR.L), ("Sphere Medical" or the "Company") a leading provider of innovative monitoring and diagnostic devices for the critical care setting, announced on 13 April 2015 details of the Company's proposed fundraising through a Placing and Open Offer at 16 pence per share.

The last time and date for receipt of completed application forms and payment in full under the Open Offer was 11.00 a.m. on 28 April 2015. The Company announces that at that time that it had received valid acceptances in respect of 7,352,582 Open Offer Shares from Qualifying Shareholders with a value of some £1,176,413. This represents approximately 99% of the 7,425,661 Open Offer Shares offered. As a consequence, the Company has conditionally raised £13.2 million (before expenses) through the Placing and Open Offer.

The Placing and Open Offer are all subject to the approval of Shareholders at a General Meeting to be held at 10.00 a.m. on 30 April 2015.

Application has been made to AIM, a market of the London Stock Exchange plc, for the admission of 82,352,582 New Ordinary Shares to be issued pursuant to the Placing and Open Offer. It is expected that Admission will become effective on 1 May 2015. Following Admission, the Company will have 141,757,872 Ordinary Shares in issue.

The New Ordinary Shares, when issued and fully paid will rank equally in all respects with the Existing Ordinary Shares.

Commenting on today's announcement, Dr. Wolfgang Rencken, Chief Executive Officer of Sphere Medical, said:

"We are very appreciative of the continued support from a significant number of our long-term shareholders that have taken part in this Open Offer. The proceeds from the fundraising will further strengthen the Company's balance sheet as we accelerate the commercialisation of Proxima in Europe."

Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the shareholder circular dated 13 April 2015.

 

For further information, please contact:

 

Sphere Medical Holding plc

Tel: +44 (0)1223 875 222

Dr Wolfgang Rencken, Chief Executive Officer

Matthew Hall, Chief Financial Officer

Peel Hunt LLP

Tel: +44 (0) 20 7418 8900

James Steel

Oliver Jackson

Jock Maxwell Macdonald

finnCap

Tel: +44 (0) 20 7220 0500

Geoff Nash / Simon Hicks

Stephen Norcross

Consilium Strategic Communications

Tel: +44 (0) 20 3709 5700

Mary-Jane Elliott

spheremedical@consilium-comms.com

Ivar Milligan

Matthew Neal

 

Notes for Editors

About Sphere Medical (AIM: SPHR.L)

 

Sphere Medical is a medical device company developing and commercialising a range of innovative monitoring and diagnostic devices designed to significantly improve patient care.

 

Sphere Medical's vision is to become a leading solution provider to the critical care market offering innovative, near real time, point of care diagnostic and monitoring products to enable closer control of therapeutic response and improve patient outcomes and reduce the overall cost of care.

 

The Company's strategy is focused on developing the Proxima (CE marked device) platform for measuring blood gases, electrolytes and metabolites. The Company is already marketing its Proxima product directly to the critical care market, which includes the ICU and OR, with a dedicated field sales force in the UK. Sphere Medical has plans to follow in Germany and Benelux via a direct sales force in Europe and proposes to work with partners for worldwide distribution.

 

Proxima delivers near real time analysis of blood gases and electrolytes metabolites, at the patient's bedside. Proxima can be used on patients across a wide therapeutic range, enabling faster clinical decision making and improved patient outcomes, whilst potentially reducing costs for healthcare payers.

 

Sphere Medical entered into a collaboration agreement with Ortho Clinical Diagnostics, Inc. in 2013 for the development of Proxima and enhancement of the Company's operational and production capabilities.

 

Sphere Medical has a number of partnerships with industry leading medical device companies and has received a strategic investment from Ortho Clinical Diagnostics (now part of Carlyle Group).

 

For further information, please visit www.spheremedical.com

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCIPMMTMBTTTBA
Date   Source Headline
19th Sep 20177:00 amRNSCancellation of AIM listing
11th Sep 20173:42 pmRNSHoldings in Company
8th Sep 20173:24 pmRNSGeneral Meeting Result
29th Aug 20174:58 pmRNSHolding(s) in Company
21st Aug 20175:53 pmRNSProposed Investment and Cancellation
14th Jul 20177:00 amRNSUpdate on financing and operations
29th Jun 20177:00 amRNSSphere Medical confirms Proxima compatibility
2nd Jun 201712:59 pmRNSResult of AGM
4th May 20179:51 amRNSNotice of AGM
2nd May 20177:00 amRNSCommercialisation Update
21st Mar 20177:00 amRNSAnnual Financial Report Published
28th Feb 20177:00 amRNSResults for the year ended 31 December 2016
7th Feb 20177:00 amRNSNotice of Preliminary Results
4th Jan 20177:00 amRNS£3 Million Loan Facility
15th Dec 20167:00 amRNSAppointment of Spanish Distributor
14th Dec 20167:00 amRNSSphere Medical launches Proxima 4
30th Sep 20167:00 amRNSSphere Medical achieves CE marking for Proxima 4
22nd Sep 20167:00 amRNSSphere Medical Interim Results
1st Sep 20167:00 amRNSNotice of Interim Results
30th Aug 20167:00 amRNSSphere Medical Expands Sales into Belgium
21st Jul 20167:00 amRNSAppt of Regional Distributor Company Update
8th Jun 20165:24 pmRNSDirector/PDMR Shareholding
13th May 20163:23 pmRNSHolding(s) in Company
28th Apr 201611:01 amRNSResult of AGM
28th Apr 20167:00 amRNSAGM Statement
8th Apr 20162:07 pmRNSDirector/PDMR Shareholding
31st Mar 201610:53 amRNSShare Options
23rd Mar 201611:13 amRNSHolding(s) in Company
23rd Mar 20167:10 amRNS2015 Annual Report and Accounts and Notice of AGM
11th Mar 20164:01 pmRNSHolding(s) in Company
4th Mar 20163:09 pmRNSHolding(s) in Company
2nd Mar 201611:09 amRNSHolding(s) in Company
29th Feb 201611:31 amRNSHolding(s) in Company
26th Feb 201611:13 amRNSHolding(s) in Company
25th Feb 20167:00 amRNSPreliminary Results for the year ended 31 Dec 2015
16th Feb 20161:18 pmRNSHolding(s) in Company
4th Feb 20167:00 amRNSOpening of Welsh Commercial Production Facilities
4th Feb 20167:00 amRNSNotice of Results
26th Jan 20167:00 amRNSContract Win
11th Jan 20167:00 amRNSChange of Adviser
28th Sep 20151:17 pmRNSDirector/PDMR Shareholding
22nd Sep 20157:00 amRNSHalf Yearly Report
16th Sep 20157:00 amRNSPublishes White Paper
10th Sep 20157:00 amRNSHolding(s) in Company
1st Sep 20157:04 amRNSNotice of Results
17th Aug 20157:00 amRNSProxima 4 Commercialisation Strategy Update
22nd Jul 20157:00 amRNSData Package Milestone Completion for Proxima 4
16th Jul 20157:00 amRNSAppointment of Chief Financial Officer
14th Jul 20158:56 amRNSTR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES
25th Jun 20151:01 pmRNSResult of AGM

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.