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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Elec Geo(DI) | LSE:EGI | London | Ordinary Share | COM STK USD0.001 (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 102.50 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMEGI
RNS Number : 1801J
Electrical Geodesics, Inc
26 June 2017
26 June 2017
Electrical Geodesics, Inc.
Posting of Proxy Statement
EUGENE, OREGON, USA, 26 June 2017 - Electrical Geodesics, Inc. ("EGI" or the "Company"), a leading neurodiagnostic medical technology company, confirms that, further to the announcement on 22 June 2017 (the "Initial Announcement"), a proxy statement including a notice of Special Meeting has been posted to EGI's stockholders today in relation to the recommended cash acquisition of all of the outstanding shares of the Company by Philips Holding USA Inc. and the proposed delisting of the Company Common Stock from AIM. The Special Meeting is to be held at the offices of the Company, 500 East 4th Avenue, Suite 200, Eugene, OR 97401, USA at 9.00 a.m. Pacific time on 17 July 2017.
A copy of the Proxy Statement will shortly be available on the Company's website (www.egi.com).
The timetable of principal events in connection with the recommended cash acquisition is as follows:
Distribution of the Proxy 26 June 2017 Statement and Notice of Special Meeting ------------------------------ ----------------------- Last time for lodging 7 July 2017 the Form of Direction ------------------------------ ----------------------- Last time for lodging 12 July 2017 the Form of Proxy ------------------------------ ----------------------- Last time for lodging 12 July 2017 the Form of Declarations ------------------------------ ----------------------- Special Meeting of Company 9:00 a.m. Pacific time on 17 July 2017 ------------------------------ ----------------------- Last day of dealing in Expected to be 19 July Company Common Stock on 2017* AIM ------------------------------ ----------------------- Termination of the Depository 19 July 2017 Interest register ------------------------------ ----------------------- Closing of the Acquisition Expected to be 20 July 2017* ------------------------------ ----------------------- Date of Cancellation Expected to be 21 July 2017* ------------------------------ ----------------------- Payment of Acquisition Commencing on 21 July Price to Stockholders 2017* commences ------------------------------ -----------------------
*Subject to satisfaction or waiver of other conditions to closing as provided for in the Merger Agreement.
The Proxy Statement details two resolutions to be considered and voted upon at the Special Meeting as follows:
1. a resolution approving and adopting the Acquisition and the Merger Agreement (the "Merger Resolution"), which resolution will require approval by Stockholders holding a majority (greater than 50%) of the issued and outstanding shares of Company Common Stock entitled to vote thereon; and
2. a resolution approving the delisting of the Company Common Stock from AIM prior to the closing of the Acquisition (the "Delisting Resolution"), which resolution will require approval by Stockholders holding at least 75% of the issued and outstanding shares of Company Common Stock entitled to vote thereon.
This Announcement supplements and updates the information contained in the Initial Announcement. This Announcement and the Initial Announcement are qualified in their entirety to the more detailed information set forth in the Proxy Statement and the Merger Agreement and Company Stockholders are urged to read the Proxy Statement in its entirety. Capitalized terms not otherwise defined herein shall have the definitions set forth in the Initial Announcement.
For more information contact:
EGI Ann Bunnenberg +1 541 687 7962 Peel Hunt LLP (NOMAD and Broker) James Steel, Oliver +44 (0) 20 7418 Jackson 8900
Electrical Geodesics, Inc. in Summary
Founded in 1992, EGI designs, develops and commercialises a range of non-invasive neurodiagnostic and neuromodulation products used to monitor, interpret and modulate brain activity, based on its proprietary dense array electroencephalography ("dEEG") platform technology. The Company's technology uses up to 256 sensors, providing much higher resolution brain activity data compared to conventional 8 or 16 channel EEG and is used in medical, clinical and research settings in a diverse range of applications including important areas such as the diagnosis and monitoring of epilepsy, neurosurgical planning, sleep assessment, and many others.
EGI's dEEG systems, available in the GES 300 and now the GES 400 lines, capitalise on the Company's unique Hydrocel Geodesic Sensor Net which allows faster, easier, and more convenient placement of many EEG sensors in an even distribution over the entire scalp, providing more accurate and precise diagnosis and measurement. EGI's technology is now widely used in neuroscience research laboratories and is becoming more commonly used in clinics, care centers, and hospitals around the world. Data is measured and visualised using EGI's proprietary amplifier technology and software, providing a complete, advanced, high-resolution EEG platform. The Company's products are compatible with multiple diagnostic and imaging technologies, including magnetic resonance (MR) imaging, functional MRI (fMRI), and magneto-encephalography (MEG).
See our website www.egi.com
This information is provided by RNS
The company news service from the London Stock Exchange
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June 26, 2017 08:40 ET (12:40 GMT)
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