Result of EGM

RNS Number : 3448H

Feedback PLC

16 May 2014

 

16 May 2014

Feedback plc

("Feedback" or the "Company")

Result of General Meeting

Further to the announcement on 30 April 2014 in relation to the proposed acquisitions of CCI and TexRAD and the proposed Subscription to raise £300,000 before expenses, the Directors are pleased to announce that at the General Meeting held earlier today all resolutions were duly passed.

It is expected that admission to AIM will become effective and that dealings in the Enlarged Issued Share Capital will commence on 19 May 2014. Following admission the Company will have 190,746,746 Ordinary Shares in issue with each Ordinary Share carrying the right to one vote. There are no Ordinary Shares currently held in treasury. The total number of voting rights in the Company following admission will therefore be 190,746,746 and this figure may be used by shareholders as the denominator for the calculations by which they determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure Rules and Transparency Rules published by the United Kingdom Listing Authority.

As previously announced, Feedback has entered into the Acquisition Agreements to acquire the issued share capital of CCI and TexRAD, both medical imaging software companies, and the underlying IP relating to TexRAD, for a total consideration of £473,900 to be satisfied by the issue of 35,800,000 Consideration Shares and £26,400 in cash.

In addition, the Company has raised £300,000 by way of a subscription for 24,000,000 Ordinary Shares at 1.25p per share. It is intended that the proceeds of the Subscription will be used to help grow the CCI and TexRAD businesses, specifically to invest in sales, marketing, regulatory approval processes and to provide additional working capital for the Enlarged Group. Furthermore the Company will pay the professional fees incurred in respect of the Acquisitions and the Subscription.

Terms defined in the announcement dated 30 April 2014 have the same meaning in this announcement.

Contacts:

Feedback plc
Nick Shepheard	Tel: [phone]
Sanlam Securities UK Limited (Nominated adviser and Joint Broker)
Simon Clements/Virginia Bull/Catherine Miles	Tel: [phone]
Peterhouse Corporate Finance Limited (joint Broker)
Jon Levinson/Lucy Williams	Tel: [phone]

 

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