Medaphor Group PLC Completion of Acquisition (8775S)

TIDMMED

RNS Number : 8775S

Medaphor Group PLC

06 October 2017

MedaPhor Group plc

("MedaPhor" or the "Group" or the "Company")

Completion of Acquisition

Total Voting Rights

Director/PDMR Shareholding

MedaPhor Group plc (AIM: MED), the intelligent ultrasound software and simulation company, announces that following admission today of 56,477,285 new ordinary shares of 1 pence each ("Ordinary Shares") relating to the placing to raise approximately GBP5.5 million and the Company's proposed acquisition of Intelligent Ultrasound Limited for a total consideration of up to GBP3.6 million, both the placing and the acquisition have completed.

Following admission, the share capital of the Company will consist of 90,701,443 Ordinary Shares. Therefore, the total number of voting rights in the Company is 90,701,443 and this figure may be used by shareholders 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.

The Company makes the following disclosures in respect of the participation in the Placing by persons discharging managerial responsibilities and persons closely associated, in accordance with article 19(3) of the Market Abuse Regulation:

 
 1     Details of the person discharging managerial 
        responsibilities / person closely associated 
----  ------------------------------------------------------------------------ 
 a)    Name                         IP Group plc 
----  ---------------------------  ------------------------------------------- 
 2     Reason for the notification 
----  ------------------------------------------------------------------------ 
 a)    Position/status              Person closely associated - David 
                                     Baynes, Non-Executive Director 
----  ---------------------------  ------------------------------------------- 
 b)    Initial notification         Initial notification 
        /Amendment 
----  ---------------------------  ------------------------------------------- 
 3     Details of the issuer, emission allowance market 
        participant, auction platform, auctioneer or 
        auction monitor 
----  ------------------------------------------------------------------------ 
 a)    Name                         MedaPhor Group plc 
----  ---------------------------  ------------------------------------------- 
 b)    LEI                          N/A 
----  ---------------------------  ------------------------------------------- 
 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               Ordinary shares of 1 pence each 
        the financial 
        instrument, type 
        of instrument 
---- 
       Identification               ISIN: GB00BN791Q39 
        code 
----  ---------------------------  ------------------------------------------- 
 b)    Nature of the                Purchase of ordinary shares of 
        transaction                  1 pence each as part of a placing 
                                     Consideration payable in ordinary 
                                     shares of 1 pence each as part 
                                     of an acquisition 
----  ---------------------------  ------------------------------------------- 
 c)    Price(s) and volume(s) 
----                                ---------------------  ----------------- 
                                     Price(s)               Volume(s) 
----                                ---------------------  ----------------- 
    12.50 pence                                             16,000,000 
   ------------------------------------------------------  ----------------- 
    16.22 pence                                             5,055,320 
   ------------------------------------------------------  ----------------- 
 
 d)    Aggregated information 
---- 
 
  - Aggregated volume          16,000,000 (being the placing 
                                shares) 
 
  - Price                      GBP2,000,000 
 
    - Aggregate volume           5,055,320 (being the consideration 
                                 shares) 
    - Price 
                                 GBP819,972.90 
 ---------------------------  ------------------------------------------------ 
 e)    Date of the transaction      6 October 2017 
----  ---------------------------  ------------------------------------------- 
 f)    Place of the transaction     XLON 
----  ---------------------------  ------------------------------------------- 
 

Enquiries:

 
 MedaPhor Group plc                            www.medaphor.com 
 Stuart Gall, CEO                           Tel: [phone] 
                                                           6534 
 
 Cenkos Securities                          Tel: [phone] 
                                                           8900 
 Bobbie Hilliam (Nominated 
  Advisor) 
 Michael Johnson / Julian 
  Morse (Corporate Broking) 
 
 Walbrook PR                        Tel: [phone] or 
                                        [e-mail] 
 Paul McManus / Anna            Mob: [phone] / Mob: 
  Dunphy                                    [phone] 
 
 

About MedaPhor (www.medaphor.com)

MedaPhor (AIM: MED), the intelligent ultrasound software and simulation company, develops advanced hi-fidelity haptic and manikin based training simulators, clinical image analysis software tools, augmented reality based needle guidance software and artificial intelligence based automated scanning software for all medical practitioners.

Based in Cardiff and Oxford in the UK and Atlanta in the US, MedaPhor is split into two divisions:

Ultrasound Simulation and Training

Focuses on hi-fidelity ultrasound education and training through simulation. Its three main products are the ScanTrainer OBGYN and General Medical simulator training platform, the HeartWorks echocardiography simulator platform and the BodyWorks Point-of-Care simulator platform (launching January 2018). Over 500 MedaPhor simulators have been sold to over 300 medical institutions in over 30 countries around the world.

Intelligent Ultrasound

Focuses on developing augmented reality and deep-learning based algorithms to make ultrasound machines smarter and more accessible. ScanNav uses machine-learning based algorithms to automatically access and grade ultrasound images to provide scan assessment and audit of obstetric scanning. NeedleGuide aims to simplify ultrasound-guided needling by using deep learning and augmented reality to provide the user with pathway guidance and automated tracking for a range of medical procedures.

This information is provided by RNS

The company news service from the London Stock Exchange

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October 06, 2017 03:00 ET (07:00 GMT)