Payment of deferred consideration

RNS Number : 6265N

Medaphor Group PLC

10 August 2017

 

10 August 2017

MedaPhor Group plc

("MedaPhor" the "Company")

Payment of deferred consideration

On 3 August 2016, MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound skills training simulators for medical professionals, announced the acquisition of Inventive Medical Limited ("IML"). Further to the terms of the acquisition, 2,325,582 new ordinary shares are being issued to The Incorporated Trustees of University College London Hospitals Charities (the "Retention Shares"). The issue of the Retention Shares was contingent on no seller warranty or indemnity breaches (as specified in the IML Sale and Purchase Agreement) arising during the 12 month period following the acquisition. The directors can confirm no seller warranty or indemnity breaches have occurred. 

Application has been made for admission of the Retention Shares to be admitted to trading on the AIM market of the London Stock Exchange ("Admission") and it is expected that Admission will become effective on 16 August 2017.  Following Admission the total number of voting rights of the Company's Ordinary Shares will be 34,224,158.

Enquiries:

MedaPhor Group plc	www.medaphor.com
Stuart Gall, CEO	Tel: [phone]
Cenkos Securities	Tel:  [phone]
Bobbie Hilliam (Nominated Adviser)
Walbrook PR	Tel: [phone] or [e-mail]
Paul McManus / Anna Dunphy	Mob: [phone] / Mob: [phone]

 

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