Exercise of Options

RNS Number : 8536U
Creo Medical Group PLC
04 August 2022
 

  Creo Medical Group plc

("Creo" the "Company" or the "Group")

 

Exercise of Options, PDMR Dealing, Issue of Equity and TVR

 

Creo Medical Group plc (AIM: CREO), the medical device company, focused on the emerging field of surgical endoscopy, announces that it has received notice of exercise of options ("Options") under the Company's share option scheme from John Bradshaw, senior independent non-executive director and a PDMR, to subscribe for a total of 105,947 new ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares").  27,000 of the Options are to be exercised at a price of £0.21389 per Ordinary Share, and 78,947 Options are to be exercised at a price of £0.76 per Ordinary Share. 

 

Application has been made for the admission of 105,947 new Ordinary Shares to trading on AIM ("Admission").  It is expected that Admission will occur at 8:00 a.m. on 10 August 2022.  Following the exercise of the Options, Mr Bradshaw will hold 105,947 Ordinary Shares in the Company representing approximately 0.06 percent. of the Company's issued share capital. 

 

Mr Bradshaw has confirmed his current intention to hold the Ordinary Shares and does not intend to sell any Ordinary Shares to meet any tax liability arising on the exercise of the Options.  Following this transaction, Mr Bradshaw will hold no share options in the Company.

 

Following Admission, the Company will have 181,527,885 Ordinary Shares in issue with voting rights attached. The Company has no shares in treasury; therefore upon, and subject to, registration, the total number of voting rights in Creo will be 181,527,885.   This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the Company under the FCA's Disclosure and Transparency Rules.

 

NOTIFICATION AND PUBLIC DISCLOSURE OF TRANSACTIONS BY PERSONS DISCHARGING MANAGERIAL RESPONSIBILITIES AND PERSONS CLOSELY ASSOCIATED WITH THEM

1. Details of PDMR

a)

Name

John Bradshaw

b)

Position / status

Senior Independent Non-Executive Director

c)

Initial notification / amendment

Initial notification

2. 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

Ordinary Shares

b)

Nature of the transaction

Exercise of share options

 

c)

Price(s) and volume(s)

Prices

Volume(s)

Exercise of share options at £0.21389 per share

 

27,000

Exercise of share options at £0.76 per share

 

78,947

d)

Aggregated information

 

Aggregated volume Price

 

 

 

105,947

£65,774.75

e)

Date of the

transaction

2022-08-03

f)

Place of the transaction

Off Market

 

Enquiries:

 

Creo Medical Group plc

www.creomedical.com

Richard Rees (CFO)

+44 (0)1291 606 005



Cenkos Securities plc

+44 (0)20 7397 8900

Stephen Keys / Camilla Hume (NOMAD)


Michael Johnson / Russell Kerr (Joint Broker)




Numis Securities Limited (Joint Broker)

+44 (0)20 7260 1000

Freddie Barnfield / James Black / Duncan Monteith




Walbrook PR Ltd

Tel: + 44 ( 0)20 7933 8780 or creo@walbrookpr.com

Paul McManus / Sam Allen /

Phillip Marriage 

Mob: +44 (0)7980 541 893 / +44 (0)7502 558 258 / +44 (0)7867 984 082

 

 

About Creo Medical  

 

Creo Medical is a medical device company focused on the development and commercialisation of minimally invasive electrosurgical devices, bringing advanced energy to endoscopy.

 

The Company's vision is to improve patient outcomes through the development and commercialisation of a suite of electrosurgical medical devices, each enabled by CROMA, powered by Kamaptive. The Group has developed the CROMA powered by Kamaptive full-spectrum adaptive technology to optimise surgical capability and patient outcomes. Kamaptive is a seamless, intuitive integration of multi-modal energy sources, optimised to dynamically adapt to patient tissue during procedures such as resection, dissection, coagulation and ablation of tissue. Kamaptive technology provides clinicians with increased flexibility, precision and controlled surgical solutions.  CROMA currently delivers bipolar radiofrequency ("RF") energy for precise localised cutting and focused high frequency microwave ("MW") energy for controlled coagulation and ablation via a single accessory port. This technology, combined with the Group's range of patented electrosurgical devices, is designed to provide clinicians with flexible, accurate and controlled clinical solutions. The Directors believe the Company's technology can impact the landscape of surgery and endoscopy by providing a safer, less-invasive and more cost-efficient option for procedures.

 

For more information, please refer to the website www.creomedical.com

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