Issue of Equity

RNS Number : 4329F

Deltex Medical Group PLC

16 July 2021

 

16 July 2021

Deltex Medical Group plc

Issue of equity to satisfy outstanding equity-settled non-executive directors' fees

Deltex Medical Group plc (the "Group" or "Deltex Medical") (AIM: DEMG), the global leader in oesophageal Doppler monitoring, today announces the issue of 6,281,822 ordinary shares (the "New Shares") at the price of 1.75 pence per New Share to satisfy deferred non-executive directors' fees. This a routine equity issue which takes place on a semi-annual basis to directors of the Group as part of the Group's repayment of outstanding equity-settled non-executive director's fees.

Outstanding equity-settled non-executive directors' fees

Further to the announcement issued by the Group on 21 December 2020, the New Shares are being issued to the Non-Executive Directors and the Chairman of the Group to satisfy outstanding fees owed to them. The New Shares will be issued at 1.75 pence per New Share, representing the closing mid-market price on 14 July 2021.

Details of the New Shares to be issued to each of the Deltex Medical directors are set out in the table below.

Director	Current shares held	%	New Shares	Post transaction holding	%
Nigel Keen	77,685,286	13.46%	2,167,535	79,852,821	13.68%
Julian Cazalet	15,782,542	2.73%	1,371,429	17,153,971	2.94%
Mark Wippell	8,866,446	1.54%	1,371,429	10,237,875	1.75%
Chris Jones	2,925,862	0.51%	1,371,429	4,297,291	0.74%

Admission

Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM. It is expected that admission will take place and dealings in the New Shares will commence on AIM on or around 8.00 a.m. on 21 July 2021.

Total voting rights

Immediately following admission, the Company's issued share capital will be 583,572,367 ordinary shares of 1 pence each ("Ordinary Shares"). Deltex Medical does not hold any Ordinary Shares in treasury.  The total voting rights figure, immediately following admission of the New Shares, of 583,572,367 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, Deltex Medical under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

Deltex Medical Group plc	01243 774 837
Nigel Keen, Chairman	[e-mail]
Andy Mears, Chief Executive
Natalie Wettler, Group Finance Director
Arden Partners plc	020 7614 5900
Paul Shackleton Oscair McGrath	[e-mail]
Joint Broker
Turner Pope Investments (TPI) Ltd	0203 657 0050
Andy Thacker James Pope	[e-mail]

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.    

1	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	a)  Nigel Keen, Chairman b)  Julian Cazalet, Non-Executive Director c)  Mark Wippell, Non-Executive Director d)  Chris Jones, Non-Executive Director
2	Reason for the notification
a)	Position/status	See 1 a) above
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	213800XN34P6LI8J6M39
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 Identification code	Ordinary Shares of 1 p each Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583
b)	Nature of the transaction	Settlement of outstanding Non-Executive Director's fees by way of ordinary shares of 1p each in Deltex Medical Group plc
c)	Price(s) and volume(s)	1.5 pence a)  2,167,535 b)  1,371,429 c)  1,371,429 d)  1,371,429
d)	Aggregated information - Aggregated volume - Price	6 ,281,822 shares 1.75p per share
e)	Date of the transaction	14  July 2020
f)	Place of the transaction	London Stock Exchange, AIM

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies which are primarily used in critical care and general surgical procedures. Deltex Medical's proprietary oesophageal Doppler monitoring ("ODM") (TrueVue Doppler) measures blood flow velocity 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 blood flow and measures such changes in 'real time'. Deltex Medical is the only company in the enhanced haemodynamic monitoring space to have built a robust and credible evidence base demonstrating both the clinical and economic benefits of its core technology: TrueVue Doppler. This technology has been proven in a wide range of clinical trials to reduce complications suffered by patients after surgery and consequently can save hospitals money.

Deltex Medical's TrueVue System on the CardioQ-ODM+ monitor platform now provides clinicians with two further advanced haemodynamic monitoring technologies. TrueVue Impedance is an entirely non-invasive monitoring technology which transmits low magnitude, high frequency electrical signals through the thorax and measures the changes to this signal when the heart pumps blood. TrueVue PressureWave uses the peripheral blood pressure signal analysis to give doctors information on changes in the circulation and is particularly suited to monitoring lower risk or haemodynamically stable patients.

Group goal

Haemodynamic management is now becoming widely accepted as a vital part of the anaesthesia protocols for surgical patients, as well as treating ventilated intensive care patients, including ventilated COVID-19 patients. Consequently, the Group's focus is on maximising value from the opportunities associated with: the CV-19 pandemic; the elective surgery backlog; and the higher profile of haemodynamic monitoring which has arisen from the recent consolidation in the sector. The Group aims to provide clinicians with a modern, next generation, single 'haemodynamic workstation' platform which offers them a range of technologies from simple to sophisticated to be deployed according to the patient's clinical condition as well as the skill and expertise of the user. Doing this will enable the Group to partner with healthcare providers to support modern haemodynamic management across the whole hospital.

The Group is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK and the USA, and via agreements with approximately 40 distributors overseas.

 

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