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Deltex Med Grp PLC (DEMG)

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Friday 09 February, 2018

Deltex Med Grp PLC

Result of Offer and Additional Allotment

RNS Number : 4490E
Deltex Medical Group PLC
09 February 2018
 

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, RUSSIA, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A BREACH OF THE RELEVANT SECURITIES LAWS OF SUCH JURISDICTION.

 

9 February 2018

 

Deltex Medical Group plc

("Deltex" or the "Company")

 

Result of Offer and Additional Allotment

On 24 January 2018, the Company published its shareholder circular (the "Circular") in connection with the Capital Raising including details of the Offer to raise £350,000.

Result of the Offer and Additional Allotment

 

The Offer closed for acceptances at 12.00 noon. on 7 February 2018.

The Company announces that valid acceptances have been received from Qualifying Participants in respect of 61,015,191 Offer Shares. This represents approximately 218 per cent. of the maximum number of Offer Shares available under the Offer.

 

The Company has therefore raised the maximum gross proceeds of £350,000 through the Offer. This is in addition to the £1.75 million (before expenses) to be raised pursuant to the Placing and the Subscription.

 

The Directors have considered the high level of interest from existing shareholders in the Offer and have decided to allot to certain existing shareholders a further 8,650,000 Ordinary Shares (the "Additional Shares) using the allotment authorities granted to the Directors at the annual general meeting of the Company on 9 June 2017. This has the effect of reducing the level of scale back of applications under the Offer from 54 per cent. to 40 per cent. and accordingly allows Qualifying Participants to receive a greater proportion of the Ordinary Shares under the Offer than would otherwise have been the case.

 

Qualifying Participants have been scaled back across the Offer and the Additional Shares (taken together) pro rata to the number of Offer Shares applied for by Qualifying Participants. Those who applied by cheque will receive refund cheques for those shares not allotted under their application in due course.

 

Offer Shares and Additional Shares (held in uncertificated form) are expected to be credited to CREST accounts on 12 February 2018 and definitive share certificates for the Offer Shares and Additional Shares (held in certificated form) are expected to be despatched to shareholders who hold their Ordinary Shares in certificated form by 23 February 2018.

 

The Capital Raising (as enlarged by the Additional Shares) remains conditional upon, amongst other things, Shareholder approval of the Resolution at the General Meeting to be at 10.00 a.m. on 9 February 2018 and Admission.

 

It is expected that the Admission of the 28,000,000 Offer Shares and the Additional Shares will become effective at 8.00 a.m. on 12 February 2018.

 

Directors Participation

 

As disclosed in the Circular certain Directors indicated their intention to subscribe in the Offer. The Company confirms that the following five Directors participated in the Offer (as augmented by the Additional Shares), pari passu, with other applicants under the Offer (as so augmented):

 

Director

Ordinary Shares held before the Capital Raising

Offer Shares applied for under the Offer

Scale back

Ordinary Shares allotted

Ordinary Shares held post the Capital Raising

% of the Company's Enlarged Share Capital

Ewan Phillips

2,921,051

1,600,000

40%

961,060

3,882,111

0.8%

Jonathan Shaw

262,931

400,000

40%

240,265

503,196

0.1%

Julian Cazalet

7,063,020

2,400,000

40%

1,442,050

8,505,070

1.7%

Mark Wippell

1,108,444

800,000

40%

480,530

1,588,974

0.3%

Sir Duncan Nichol

1,586,912

1,200,000

40%

720,795

2,307,707

0.5%

 

The issue of Ordinary Shares to the five Directors, listed in the table above, is considered to be a related party transaction for the purposes of Rule 13 of the AIM Rules for Companies. The independent Directors (considered to be Nigel Keen and Christopher Jones) consider, having consulted with Arden Partners plc, the Company's nominated adviser, that the terms of the issue of Ordinary Shares to the five Directors noted above are fair and reasonable in so far as the Company's Shareholders are concerned.

 

Capitalised terms used in this announcement shall have the same meanings given to them in the Circular.

 

Ewan Phillips, Chief Executive of Deltex, said:

"The Company is pleased that the Offer to its existing shareholders was substantially oversubscribed and that it was able to reduce the level of subsequent scale back by the allotment of additional shares. The additional proceeds will be applied for general working capital purposes."

 

For further information please contact:

 

Deltex Medical Group plc

 

Ewan Phillips

Jonathan Shaw

01243 774 837

[email protected]

Arden Partners plc

Chris Hardie

Ciaran Walsh

020 7614 5900

 Turner Pope Investments (TPI) Ltd

Andy Thacker

0203 621 4120

[email protected]

 IFC Advisory Ltd

Tim Metcalfe

Graham Herring

Heather Armstrong

0203 934 6630

 

 

PDMR Notification Forms:

 

The notifications below are made in accordance with the requirements of MAR.

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Ewan Phillips

2.

Reason for the Notification

a)

Position/status

Chief Executive

b)

Initial notification/amendment

Initial notification

3.

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.

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, type of instrument

Ordinary shares of 1 pence each

Identification code

GB00B95L0551

b)

Nature of the Transaction

Subscription of ordinary shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.25p

961,060

 

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

12 February 2018

f)

Place of the transaction

London Stock Exchange, AIM

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Jonathan Shaw

2.

Reason for the Notification

a)

Position/status

Finance Director

b)

Initial notification/amendment

Initial notification

3.

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.

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, type of instrument

Ordinary shares of 1 pence each

Identification code

GB00B95L0551

b)

Nature of the Transaction

Subscription of ordinary shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.25p

240,265

 

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

12 February 2018

f)

Place of the transaction

London Stock Exchange, AIM

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Julian Cazalet

2.

Reason for the Notification

a)

Position/status

Non-executive Director

b)

Initial notification/amendment

Initial notification

3.

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.

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, type of instrument

Ordinary shares of 1 pence each

Identification code

GB00B95L0551

b)

Nature of the Transaction

Subscription of ordinary shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.25p

1,442,050

 

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

12 February 2018

f)

Place of the transaction

London Stock Exchange, AIM

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Mark Wippell

2.

Reason for the Notification

a)

Position/status

Non-executive Director

b)

Initial notification/amendment

Initial notification

3.

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.

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, type of instrument

Ordinary shares of 1 pence each

Identification code

GB00B95L0551

b)

Nature of the Transaction

Subscription of ordinary shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.25p

480,530

 

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

12 February 2018

f)

Place of the transaction

London Stock Exchange, AIM

 

1.

Details of the person discharging managerial responsibilities / person closely associated

a)

Name

Sir Duncan Nichol

2.

Reason for the Notification

a)

Position/status

Non-executive Director

b)

Initial notification/amendment

Initial notification

3.

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.

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, type of instrument

Ordinary shares of 1 pence each

Identification code

GB00B95L0551

b)

Nature of the Transaction

Subscription of ordinary shares

c)

Price(s) and volume(s)

Price(s)

Volume(s)

1.25p

720,795

 

d)

Aggregated information

Aggregated volume Price

N/A (Single transaction)

e)

Date of the transaction

12 February 2018

f)

Place of the transaction

London Stock Exchange, AIM

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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