Partial redemption of convertible loan note

RNS Number : 4995O

Deltex Medical Group PLC

18 May 2018

 

18 May 2018

Deltex Medical Group plc

("Deltex" or "the Company")

Partial redemption of convertible loan note

Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring ("ODM"), gives notice that it has issued 2,000,000 New Ordinary Shares of 1p each at a price of 1.25p each, equal to the closing share price on 17 May 2018.

As stated in the Company's shareholder circular (the "Circular"), published on 24 January 2018, it was agreed that a holding of £25,000 nominal amount of convertible loan notes could be redeemed. The holder of these convertible loan notes requested that the nominal amount be reinvested in the Company at the same price as the fundraising in January. In the light of this, the Directors have allotted 2,000,000 New Ordinary Shares of 1p each using the allotment authorities granted to the Directors at the annual general meeting of the Company on 9 June 2017.

It is expected that the Admission of the 2,000,000 New Ordinary Shares of 1p will become effective at 8.00 a.m. on 24 May 2018.

Following Admission, the total number of Ordinary Shares in issue with voting rights will be 492,663,367 Ordinary Shares. Shareholders may use this figure as the denominator for the calculations by which they will determine if they are required to notify their interest in, or change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:-

Deltex Medical Group plc	01243 774 837 [e-mail]
Nigel Keen, Chairman
Ewan Phillips, Chief Executive
Jonathan Shaw, Group Finance Director
Nominated Adviser & Broker
Arden Partners plc	020 7614 5900
Chris Hardie Ciaran Walsh
Joint Broker
Turner Pope Investments (TPI) Ltd	0203 621 4120 [e-mail]
Andy Thacker
Financial Public Relations
IFC Advisory Ltd	0203 934 6630
Tim Metcalfe Graham Herring Heather Armstrong

Notes for Editors

Deltex manufactures and markets haemodynamic monitoring technologies. Deltex's proprietary ODM (TrueVue^TM Doppler) is the only technology to measure blood flow 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 flow and measures them immediately. Deltex has been the only Group in the enhanced haemodynamic space to build a robust and credible evidence base proving the clinical and economic benefits of its core technology, TrueVue^TM Doppler which is proven to reduce complications suffered by patients after surgery and save hospitals the costs of treating those complications.

Deltex's TrueVue^TM System on the CardioQ-ODM+ monitor platform also now provides clinicians with two further advanced haemodynamic monitoring technologies. High Definition Impedance Cardiography is an entirely non-invasive monitoring technology which creates an electrical field across the chest and measures the disruption to this field when the heart pumps blood. Pulse Pressure Waveform Analysis uses 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 an important major new medical modality. Consequently, the Group's focus is on maximising value from the opportunities presented as enhanced haemodynamic management is adopted into routine clinical practice around the world. The Group aims to provide clinicians with a single platform, a 'haemodynamic workstation', which offers them a range of technologies from simple to sophisticated to be deployed according to the patient's condition and skill and expertise of the user. Doing this will enable the Group to partner healthcare providers to support modern haemodynamic management across the whole hospital.

 

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