Share Subscription

RNS Number : 9407C

Deltex Medical Group PLC

01 July 2016

 

1 July 2016

Deltex Medical Group plc

("Deltex Medical" or "the Company")

Share Subscription

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring ("ODM"), today announces that it has raised £450,000 by means of a subscription by an existing private shareholder (the "Subscription").

Highlights

·      A subscription for 10,465,116 new ordinary shares of 1p each in the Company ("New Ordinary Shares") at a price of 4.3 pence per share

·      The Subscription proceeds will be applied to working capital

·      The Company is planning to provide a trading update with regard to the first half of the year towards the end of the week commencing 4 July 2016

Application will be made for the 10,465,116 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 14 July 2016.

Upon Admission, the 10,465,116 New Ordinary Shares will represent 3.7% of the Company's enlarged issued share capital, being 284,935,182 Ordinary Shares 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.

Deltex Medical's chairman, Nigel Keen, commented:

"This additional finance supplements the amounts raised in the first quarter of the year and will provide the Company with additional working capital."

For further information, please contact:-

Deltex Medical Group plc	01243 774 837 [e-mail]
Nigel Keen, Chairman
Ewan Phillips, Chief Executive
Jonathan Shaw, Group Finance Director Barry Curtis, Company Secretary
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 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.

During 2013, the Company launched the CardioQ-ODM+ monitor that offers clinicians both of the two best-established technologies, Deltex Medical's ODM technology as well as Pulse Pressure Waveform Analysis ('PPWA') in one monitor. This allows clinicians to have unique real time insights into each of flow, pressure and resistance, the three pillars of haemodynamics.

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 over 600,000 patients have been treated to date using Deltex Medical's single patient disposable probes.

 

END

 

 

IOEGRGDRRBGBGLB