Feedback PLC Issue of Equity (3249D)

TIDMFDBK

RNS Number : 3249D

Feedback PLC

26 April 2017

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service ("RIS"), this inside information is now considered to be in the public domain.

26 April 2017

Feedback plc

("Feedback" or the "Company")

Placing to raise GBP750,000

Feedback plc (AIM: FDBK), the medical imaging software company, is pleased to announce the completion of a placing of 27,272,727 new ordinary shares of 0.25p each in the Company (the "Placing Shares") at a price of 2.75 pence per Placing Share (the "Placing Price") to raise a total of GBP750,000 (before expenses) (the "Placing"). The Placing is subject to admission of the Placing Shares to trading on AIM ("Admission"). Application has been made for the Placing Shares to be admitted to trading on AIM and it is expected that Admission will take place on 2 May 2017.

The net proceeds from the Placing will be used to invest in product development, sales and marketing, primarily for TexRAD, Feedback's patented quantitative medical imaging software, as well as for general working capital purposes.

The Placing Shares will represent, in aggregate, approximately 11.08 per cent. of the Company's issued ordinary share capital as enlarged by the issue of the Placing Shares. The Placing was conducted within the Company's existing share allotment authorities. The Placing Shares, when duly issued and fully paid, will rank pari passu in all respects with the Company's existing ordinary shares. The Placing has not been underwritten.

On Admission, the shareholdings of those directors who hold shares in Feedback will be as follows:

 
                                             Holding    Percentage 
                                         of ordinary   of Enlarged 
                                              shares         Share 
Director                                                   Capital 
Dr Alastair Riddell (Non-executive 
 Chairman)                                 5,000,000         2.03% 
Dr Balaji Ganeshan (Executive 
 Director)                                 2,860,000         1.16% 
Mike Hayball (Executive 
 Director)                                 5,670,600         2.30% 
Tom Charlton (Non-executive 
 Deputy Chairman)                         59,637,408        24.27% 
Trevor Brown (Non-executive 
 Director)                                55,089,111        22.39% 
 

Total Voting Rights

The Placing is conditional, among other things, upon Admission becoming effective. Following Admission, the Company's issued ordinary share capital will consist of 246,066,584 ordinary shares, with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 246,066,584. With effect from Admission, this figure may be used by shareholders in the Company 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 share capital of the Company under the FCA's Disclosure and Transparency Rules.

**ENDS**

For further information, please contact:

 
 Feedback plc                                Tel: [phone] 
  Alastair Riddell 
 Allenby Capital Limited (Nominated          Tel: [phone] 
  Adviser and Joint Broker)                   5656 
  David Worlidge / Virginia Bull / 
  James Thomas 
 Northland Capital Partners Ltd (Joint       Tel: [phone] 
  Broker)                                     6625 
  Patrick Claridge / Margarita Mitropoulou 
 Peterhouse Corporate Finance Ltd            Tel: [phone] 
  (Joint Broker)                              0936 
  Lucy Williams / Duncan Vasey 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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April 26, 2017 02:00 ET (06:00 GMT)