Result of General Meeting

RNS Number : 1155P

Induction Healthcare Group PLC

05 June 2020

 

5 June 2020

Induction Healthcare Group PLC

("Induction", the "Company" or the "Group")

Result of General Meeting

Board Changes, Completion of Acquisition and Issue of Shares

Induction, a leading healthcare technology company that helps healthcare professionals deliver better care more efficiently, today announces that at its General Meeting, held today at 9.00 a.m., all resolutions proposed at the General Meeting detailed in the circular dated 20 May 2020 (the "Circular") have been duly approved by the Company's shareholders ("Shareholders"). As a result, the Company will proceed to issue 12,424,527 New Ordinary Shares as consideration for the acquisition of Zesty Limited ("Zesty") on 8 June 2020, thereby completing the acquisition of Zesty ("Completion").

Board changes

As detailed in the Circular, the Company hereby confirms that James Balmain and Andrew Williams will be appointed to the Board of Directors of Induction as Joint-Chief Executive Officer and Non-Executive Director respectively, effective from Completion. James Balmain will be Joint-Chief Executive Officer alongside Hugo Stephenson (also Joint-Chief Executive Officer), and Ibraheem Mahmood will step down from the Board of Directors, effective from Completion.

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the admission of the 12,424,527 New Ordinary Shares to trading on AIM, which will rank pari passu in all respects with the Existing Ordinary Shares. It is expected that Admission of the New Ordinary Shares will occur at 8.00 a.m. on 9 June 2020.

Following the issue of the New Ordinary Shares, the Company will have 42,050,728 Ordinary Shares in issue. Accordingly, this figure will be the total number of voting rights in the Company and 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 change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Disclosures under Rule 17 of paragraph (g) of Schedule Two of the AIM Rules for Companies

Save as disclosed below, Induction confirms that there are no further disclosures to be made in relation to Rule 17 of paragraph (g) of Schedule Two of the AIM Rules for Companies in respect of James Balmain's and Andrew Williams' appointment to the Board of Directors.

James Henry Stewart Balmain, aged 46, currently holds and has held the following directorships in the past five years: 

Current directorships:	Zesty Limited
Directorships held in the past 5 years:	Delforth Limited Velvetore Limited(1)

(1)  Mr Balmain was a director of Velvetore Limited from 25 October 2012 until its dissolution by creditors voluntary liquidation on 07 May 2019.

Following Completion, Mr Balmain will hold 699,391 ordinary shares of 0.5p each in the Company.

Andrew David Williams, aged 61, currently holds and has held the following directorships in the past five years: 

Current directorships:	Docly AB Logex Group Marlingford Advisory Services Limited Zesty Limited
Directorships held in the past 5 years:	Ivbar

Following Completion, Mr Williams will hold 419,495 ordinary shares of 0.5p each in the Company.

-Ends-

ENQUIRIES

Induction Healthcare Group PLC Dr Hugo Stephenson, Joint-Chief Executive Officer Ibs Mahmood, Chief Business Officer	via FTI Consulting
Numis Securities  (Nominated Adviser and Broker) James Black / Freddie Barnfield / Huw Jeremy / Matthew Jones	[phone]
FTI Consulting Jamie Ricketts / Elena Kalinskaya / Sam Purewal/ Mary Whittow	[phone]

About Induction

Induction Healthcare Group PLC is  a leading healthcare technology company that helps healthcare professionals deliver better care more efficiently.  The Group has two platforms, Induction and MicroGuide, that support healthcare professionals in multiple markets, including UK, Ireland, Australia and South Africa. Induction is the number one healthcare collaboration app in the UK. The app helps over 140,000 users - mostly doctors - to increase productivity and enhance communication by securely sharing phone numbers and bleeps, bookmarks, documents and messages in a clinical setting. The MicroGuide platform provides medical organisations with the ability to collaboratively create, edit, and publish their own local medical guidelines in a secure and locally administrated environment. The Induction app is used by the majority of hospital doctors within the NHS. The MicroGuide platform is used by the majority of trusts within the NHS. 

As at 1 May 2020, the Induction app had 140,819 registered users, primarily in the UK. The registered user base grew by 67.2% from 1 May 2019 to 1 May 2020.

As at 1 May 2020, the MicroGuide app had 173,196 registered users, primarily in the UK. The registered user base grew by 36.2% from 1 May 2019 to 1 May 2020.

 

END

 

 

ROMVELBBBQLEBBZ