Exercise of warrants and total voting rights

RNS Number : 1920F

Intelligent Ultrasound Group PLC

14 July 2021

 

Intelligent Ultrasound Group plc

("Intelligent Ultrasound" or the "Company")

Exercise of Warrants

Total Voting Rights

Intelligent Ultrasound Group plc (AIM: IUG), the artificial intelligence software and simulation company, announces that pursuant to a receipt of notice for the exercise of warrants, it is issuing 1,256,693 new ordinary shares with a nominal value of 0.01 each at a subscription price of £0.01 per ordinary share. The Company has received gross proceeds of £12,566.93.

The shares will rank pari passu with the existing ordinary shares. Application has been made for the shares to be admitted to trading on AIM ("Admission"), with Admission expected to occur on 19 July 2021.

Following Admission of the Shares, the Company will have 270,653,485 ordinary shares with a nominal value of 0.01 each in issue with voting rights and admitted to trading on AIM. This figure may then be used by shareholders in the Company as the denominator for the calculation by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules .

Enquiries:

Intelligent Ultrasound Group plc			www. intelligentultrasound.com
Stuart Gall, CEO  Helen Jones, CFO			Tel: [phone]
Cenkos Securities - Nominated Advisor and Broker				Tel:  [phone]
Giles Balleny / Max Gould (Corporate Finance)
Dale Bellis / Julian Morse (Sales)
Walbrook PR	Tel: [phone] or  [e-mail]
Anna Dunphy / Paul McManus		Mob: [phone] / Mob: [phone]

About Intelligent Ultrasound Group

Intelligent Ultrasound (AIM: IUG) develops artificial intelligence-based clinical image analysis software tools for the diagnostic medical ultrasound market and hi-fidelity virtual reality simulators for the ultrasound training market. Based in Cardiff in the UK and Atlanta in the US, the Group operates two divisions:

Clinical AI Division

Focusses on developing deep learning-based algorithms to make ultrasound machines smarter and more accessible. Products in the market include :

ScanNav Assist

ScanNav Assist uses machine-learning based algorithms to automatically identify and grade ultrasound images. GE Healthcare's SonoLyst software on their Voluson SWIFT ultrasound machine incorporates the ScanNav Assist AI technology and has received 510(k) clearance from the FDA for sale in the USA. SonoLyst is the world's first fully integrated AI tool that recognises the 20 views recommended by the International Society of Ultrasound in Obstetrics and Gynaecology mid-trimester practice guidelines for fetal imaging.

ScanNav Anatomy

ScanNav Anatomy Peripheral Nerve Block (PNB) uses machine-learning based algorithms to simplify ultrasound-guided needling by providing the user with real-time AI-based anatomy  highlighting software for a range of medical procedures. ScanNav Anatomy has received CE approval and has also been submitted for FDA regulatory approval.

ScanNav Anatomy PNB is therefore not available for sale in the US or any other territory requiring government approval for this type of product.

Simulation Division 

Focusses on hi-fidelity ultrasound education and training through simulation.  Its main products are the  ScanTrainer OBGYN training simulator, the HeartWorks echocardiography training simulator, the BodyWorks Eve Point of Care and Emergency Medicine training simulator with Covid module and the new AI-based Anatomy PNB training simulator. To date over 1,000 simulators have been sold to over 600 medical institutions around the world.

www.intelligentultrasound.com

 

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