Result of Open Offer

RNS Number : 7420X

Creo Medical Group PLC

23 December 2019

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

Creo Medical Group plc

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

Result of Open Offer

Creo Medical Group plc (AIM: CREO), a medical device company focused on the emerging field of surgical endoscopy, announces that it has conditionally raised total gross proceeds of £1.9 million via the Open Offer. Accordingly, the Company has conditionally raised total gross proceeds of £51.9 million via the Fundraising.

The Open Offer closed for acceptances at 11.00 a.m. on 20 December 2019. The Company received valid acceptances from Qualifying Shareholders in respect of 594,078 Open Offer Shares, including applications for 463,317 Open Offer Shares under the Excess Application Facility. Admission of the Open Offer shares is subject to passing the relevant resolutions at the General Meeting.

Unless otherwise defined herein, capitalised terms used in this announcement shall have the same meanings as defined in the circular sent to shareholders of the Company on 4 December 2019.

Enquiries:

Creo Medical Group plc	investors.creomedical.com
Richard Rees (CFO)	[phone]
Cenkos Securities	[phone]
Stephen Keys / Cameron MacRitchie (NOMAD)
Michael Johnson / Russell Kerr (Sales)
Walbrook PR Ltd	Tel: [phone] or [e-mail]
Paul McManus / Lianne Cawthorne	Mob: [phone]

About Creo Medical

Creo Medical, founded in 2003, is a medical device company focused on the development and commercialisation of minimally invasive surgical devices, by bringing advanced energy to endoscopy.  The Company's mission is to improve patient outcomes by applying microwave and RF energy to surgical endoscopy.  Creo has developed CROMA, an electrosurgical Advanced Energy Platform that combines bipolar radiofrequency for precise localised cutting and microwave for controlled coagulation.  This technology provides clinicians with flexible, accurate and controlled surgical solutions.

The Company's strategy is to bring its CROMA Advanced Energy Platform powered by unique full spectrum adaptive technology to market enabling a suite of medical devices which the Company has designed, initially for the emerging field of GI therapeutic endoscopy, an area with high unmet needs.  The CROMA Advanced Energy platform will be developed further for bronchoscopy and laparoscopy procedures.  The Company believes its technology can impact the landscape of surgery and endoscopy by providing a safer, less-invasive and more cost-efficient option of treatment.

For more information about Creo Medical please see our website, investors.creomedical.com

 

END

 

 

ROIPGGBWPUPBGMP