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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Deltex Medical Group Plc | LSE:DEMG | London | Ordinary Share | GB0059337583 | ORD 0.01P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.13 | 0.12 | 0.14 | 0.13 | 0.13 | 0.13 | 100,000 | 08:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Electromedical Apparatus | 2.48M | -1.15M | -0.0006 | -2.17 | 2.4M |
TIDMDEMG
RNS Number : 1877R
Deltex Medical Group PLC
13 June 2018
13 June 2018
Deltex Medical Group plc
("Deltex" or the "Company" or the "Group")
Directorate change
Appointment of new Chief Executive
Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring, announces that Ewan Phillips has resigned as Chief Executive and as a Director of the Company with immediate effect.
Mr. Phillips recently approached Deltex's Chairman indicating that he had concluded that it was now time for a change in leadership to guide the Group through its next stage of development. After leading the Group for a number of years, he felt that Deltex was now well-positioned following the successful fund raising in February 2018, recent cost reductions, the launch of the TrueVue platform, the recently published FEDORA study and repositioning of both its core clinical and health economic propositions.
Andy Mears, who is currently the Managing Director of Deltex Medical Limited, the Group's principal operating subsidiary, has been appointed as the Group's new Chief Executive and a Director of the Company. The Board appointment is subject to completion of certain regulatory formalities.
Mr. Mears, aged 49, started at Deltex as an engineer in 1989 and has worked in a number of operational roles in the Group. Within his current role, he has responsibility for international sales and Deltex's Key Opinion Leader development programmes.
Mr Mears has a beneficial interest in 547,586 ordinary shares and also holds the following options over ordinary shares of the Company:
Date of Number Exercise Exercisable Exercisable award of shares price from: until: (p) -------------- ----------- --------- ---------------- --------------- 1 July 2008 125,000 18.50 1 July 2011 30 June 2018 12 June 2009 125,000 12.75 12 June 2012 11 June 2019 27 September 27 September 26 September 2011 300,000 17.25 2014 2021 10 October 2012 150,000 24.00 10 October 2015 9 October 2022 10 June 2015 375,000 11.00 10 June 2018 9 June 2025 21 September 21 September 20 September 2017 1,562,500 4.00 2020 2027 -------------- ----------- --------- ---------------- ---------------
There are no further matters relating to the appointment of Andrew Jonathan Mears as a Director of the Company requiring disclosure under AIM Rule 17 and Schedule Two, paragraphs (g) (ii) - (viii) of the AIM Rules for Companies.
AGM
The Company is holding its Annual General Meeting ("AGM") on 20 June 2018 and will release an AGM statement that day.
As indicated in the preliminary results published on 9 May 2018, the Group saw its revenues held back in Q1 2018. Notwithstanding improved trading in April, the Board now expects that the revenues for the first half of 2018 will be lower than in H1 2017.
Nigel Keen, Chairman of Deltex, said:
"On behalf of the Board, I want to thank Ewan Phillips for his work and dedication to Deltex over the last 17 years, the second half of these as Chief Executive. During this time the Group has expanded significantly the evidence base which demonstrates the superior data generated for clinicians by Deltex's oesophageal doppler monitoring technology and shifted its focus from the UK to the US and other export markets.
"The fund raising earlier this year and the impressive scientific data from the recently published FEDORA study means that, notwithstanding a subdued first half, the Group has a robust platform to build on to move to the next stage of its development.
"I am delighted that Andy Mears has accepted the role of Chief Executive and I look forward to working closely with him to drive forwards the recently launched TrueVue platform from an improved financial footing."
Deltex Medical Group plc 01243 774 837 investorinfo@Deltexmedical.com Nigel Keen, Chairman Andy Mears, Chief Executive Jonathan Shaw, Group Finance Director Nominated Adviser & Broker Arden Partners plc 020 7614 5900 Chris Hardie Ciaran Walsh Joint Broker Turner Pope Investments (TPI) 0203 621 4120 Ltd info@turnerpope.com Andy Thacker Financial Public Relations IFC Advisory Ltd 0203 934 6630 Tim Metcalfe Graham Herring Heather Armstrong
Notes for Editors
Deltex Medical manufactures and markets haemodynamic monitoring technologies. Deltex Medical's proprietary ODM (TrueVue(TM) Doppler) is the only technology to measure blood flow in the central circulation in real time. Minimally invasive, easy to set up and quick to focus, the technology generates a low-frequency ultrasound signal, which is highly sensitive to changes in flow and measures them immediately. Deltex has been the only group in the enhanced haemodynamic space to build a robust and credible evidence base proving the clinical and economic benefits of its core technology, TrueVue(TM) Doppler, which is proven to reduce complications suffered by patients after surgery and save hospitals the costs of treating those complications.
Deltex Medical's TrueVue(TM) System on the CardioQ-ODM+ monitor platform also now provides clinicians with two further advanced haemodynamic monitoring technologies. High Definition Impedance Cardiography is an entirely non-invasive monitoring technology which creates an electrical field across the chest and measures the disruption to this field when the heart pumps blood. Pulse Pressure Waveform Analysis uses peripheral blood pressure signal analysis to give doctors information on changes in the circulation and is particularly suited to monitoring lower risk or haemodynamically stable patients.
Group goal
Haemodynamic management is now becoming widely accepted as an important major new medical modality. Consequently, the Group's focus is on maximising value from the opportunities presented, as enhanced haemodynamic management is adopted into routine clinical practice around the world. The Group aims to provide clinicians with a single platform, a 'haemodynamic workstation', which offers them a range of technologies from simple to sophisticated to be deployed according to the patient's condition as well as the skill and expertise of the user. Doing this will enable the Group to partner healthcare providers to support modern haemodynamic management across the whole hospital.
The Group is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK, USA, Spain and Canada and through distribution arrangements in a further 30 countries.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
END
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June 13, 2018 02:01 ET (06:01 GMT)
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