Result of Open Offer and General Meeting

RNS Number : 7408R

Feedback PLC

01 July 2020

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").

Feedback plc

Result of Open Offer and General Meeting

London, 1 July 2020:  Feedback plc (AIM: FDBK, "Feedback" or the "Company"), t he specialist medical imaging technology company, announced on 15 June 2020, that it had co nditionally raised £5.05 million through the placing of 505,000,000 new ordinary shares in the Company, and, in addition, had provided all qualifying shareholders with the opportunity to subscribe for an aggregate of up to 53,994,991 new ordinary shares at the issue price of 1 penny per share, pursuant to the Open Offer.

Result of Open Offer

Feedback announces that valid applications were received in respect of, in aggregate, 21,981,769 Open Offer Shares, raising gross proceeds of £219,817.69. Therefore, the total amount raised pursuant to the Placing and Open Offer is approximately £5.27 million. Both the Open Offer and the Placing were conditional on shareholder approval at the general meeting held earlier today.

Result of General Meeting

The Company announces that, at its general meeting held earlier today, all resolutions were duly passed. As a result, the 505,000,000 Placing Shares and 21,981,769 Open Offer Shares are expected to be admitted to trading on AIM on 3 July 2020 ("Admission"). The proxy voting results of the resolutions were as follows:

Resolutions	Votes For*	% of votes cast**	Votes Against	% of votes cast**	Votes Withheld**	Total votes cast**
Ordinary Resolutions
1.  To authorise the directors to allot Ordinary Shares pursuant to the Placing and Open Offer	207,687,480	99.89	221,474	0.11	44,560	207,908,954
2.  To authorise the directors to allot further shares (or grant rights in respect thereof) pursuant to Section 551 of the Companies Act 2006	207,657,443	99.89	221,474	0.11	74,597	207,878,917
Special Resolutions
3.  General disapplication of pre-emption rights on Ordinary Shares pursuant to the Placing and Open Offer	207,657,443	99.89	221,474	0.11	74,597	207,878,917
4.  To authorise the directors to allot further equity securities pursuant to Section 570 of the Companies Act 2006	207,657,443	99.89	221,474	0.11	74,597	207,878,917

*Votes "For" include votes giving the Chairman discretion.

**  A 'Vote Withheld' is not a vote in law and has not been counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution, nor in the "Total votes cast".

Director Shareholding

Rory Shaw, Chairman of Feedback, has subscribed for 416,667 new ordinary shares pursuant to the Open Offer. Therefore, from Admission, Rory Shaw will hold 4,583,334 ordinary shares, representing 0.43 per cent. of the Company's issued share capital. The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.

Total Voting Rights

On Admission, the Company will have   1,066,931,686 ordinary shares of 0.25p each in issue, each with one voting right. There are no shares held in treasury. Therefore, from Admission, the total number of ordinary shares and voting rights in the Company will be 1,066,931,686. 

The above figure of 1,066,931,686 may be used by shareholders from Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

Defined terms used in this announcement shall have the same meaning as in the announcement of 15 June 2020 unless otherwise defined herein.

Enquiries:

Feedback plc Tom Oakley, CEO Lindsay Melvin, CFO	[phone] [e-mail]
Allenby Capital Limited (Nominated Adviser) David Worlidge / Asha Chotai	[phone]
Peterhouse Capital Limited (Joint Broker) Lucy Williams / Duncan Vasey	[phone]
Stanford Capital Partners Limited (Joint Broker) Patrick Claridge / John Howes	[phone]
Instinctif Partners Melanie Toyne-Sewell / Phillip Marriage	[phone] [phone] [e-mail]

Notes to editors

About Feedback plc -  www.fbk.com

Feedback plc (AIM: FDBK) is a specialist medical imaging technology company providing innovative software and systems, through its fully-owned trading subsidiary, Feedback Medical Limited. Its products advance the work of radiologists, clinicians and medical researchers by improving workflows and giving unique insights into diseases, particularly cancer.

Feedback has launched Bleepa, a new secure, encrypted medical communication app for clinicians accessible through smartphones, tablets and desktops that facilitates rapid clinical messaging and review of medical grade imaging for all members of a clinical team, directly from a hospital Picture Archiving and Communications System (PACS). For more information on Bleepa  ^Ⓡ   , see  www.bleepa.com  .

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	Rory Shaw
2	Reason for the notification
a)	Position/status	Chairman
b)	Initial notification /Amendment	Initial notification
3	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Feedback plc
b)	LEI	213800UGOF2GT2U2RV90
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 0.25p each Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)	Nature of the transaction	Subscription of Ordinary Shares pursuant to the Open Offer
c)	Price(s) and volume(s)	Price(s) Volume(s)  1p 416,667
d)	Aggregated information  - Aggregated volume - Price	N/A
e)	Date of the transaction	1 July 2020
f)	Place of the transaction	Outside a trading venue

 

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