Share Name Share Symbol Market Type Share ISIN Share Description
Deltex Medical Group Plc LSE:DEMG London Ordinary Share GB0059337583 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 1.55 1.40 1.70 1.55 1.55 1.55 36,761 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Health Care Equipment & Services 2.4 -0.8 -0.2 - 9

Deltex Medical Group PLC Issue of Equity

22/07/2021 3:48pm

UK Regulatory (RNS & others)

Deltex Medical (LSE:DEMG)
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RNS Number : 1909G

Deltex Medical Group PLC

22 July 2021

22 July 2021

Deltex Medical Group plc

Issue of equity to satisfy outstanding equity-settled non-executive directors' fees

Deltex Medical Group plc (the "Group" or "Deltex Medical") (AIM: DEMG), the global leader in oesophageal Doppler monitoring, further to the announcement made on 16 July 2021, today announces the issue of 1,371,429 ordinary shares (the "New Shares") at the price of 1.75 pence per New Share to satisfy deferred non-executive directors' fees for Sir Duncan Nichol, who retired from his position on the board as a director as of 31 December 2020. This will be the final equity settled non-executive directors' fees payment to Sir Duncan Nichol. Further detail is given below.

Outstanding equity-settled non-executive directors' fees

Further to the announcement issued by the Group on 21 December 2020, the New Shares are being issued to the Non-Executive Directors and the Chairman of the Group to satisfy outstanding fees owed to them. The New Shares will be issued at 1.75 pence per New Share, representing the closing mid-market price on 21 July 2021.

Details of the New Shares to be issued to the retired Deltex Medical director are set out in the table below.

 Ex-Director      Current       %     New Shares   Post transaction    % 
                 shares held                            holding 
  Sir Duncan 
    Nichol       8,788,663     1.51   1,371,429       10,160,092      1.74 
               -------------  -----  -----------  -----------------  ----- 


Application has been made to the London Stock Exchange for the New Shares to be admitted to trading on AIM. It is expected that admission will take place and dealings in the New Shares will commence on AIM on or around 8.00 a.m. on 28 July 2021.

Total voting rights

Immediately following admission, the Company's issued share capital will be 584,943,796 ordinary shares of 1 pence each ("Ordinary Shares"). Deltex Medical does not hold any Ordinary Shares in treasury. The total voting rights figure, immediately following admission of the New Shares, of 584,943,796 may be used by shareholders (and others with notification obligations) as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, Deltex Medical under the FCA's Disclosure Guidance and Transparency Rules.

For further information, please contact:

 Deltex Medical Group plc                   01243 774 837 
 Nigel Keen, Chairman                        investorinfo@Deltexmedical.com 
 Andy Mears, Chief Executive 
 Natalie Wettler, Group Finance Director 
 Arden Partners plc                         020 7614 5900 
 Paul Shackleton                             info@arden-partners.com 
  Oscair McGrath 
 Joint Broker 
 Turner Pope Investments (TPI) Ltd          0203 657 0050 
 Andy Thacker                                info@turnerpope.com 
  James Pope 

Notes for Editors

Deltex Medical manufactures and markets haemodynamic monitoring technologies which are primarily used in critical care and general surgical procedures. Deltex Medical's proprietary oesophageal Doppler monitoring ("ODM") (TrueVue Doppler) measures blood flow velocity 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 blood flow and measures such changes in 'real time'. Deltex Medical is the only company in the enhanced haemodynamic monitoring space to have built a robust and credible evidence base demonstrating both the clinical and economic benefits of its core technology: TrueVue Doppler. This technology has been proven in a wide range of clinical trials to reduce complications suffered by patients after surgery and consequently can save hospitals money.

Deltex Medical's TrueVue System on the CardioQ-ODM+ monitor platform now provides clinicians with two further advanced haemodynamic monitoring technologies. TrueVue Impedance is an entirely non-invasive monitoring technology which transmits low magnitude, high frequency electrical signals through the thorax and measures the changes to this signal when the heart pumps blood. TrueVue PressureWave uses the 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 a vital part of the anaesthesia protocols for surgical patients, as well as treating ventilated intensive care patients, including ventilated COVID-19 patients. Consequently, the Group's focus is on maximising value from the opportunities associated with: the CV-19 pandemic; the elective surgery backlog; and the higher profile of haemodynamic monitoring which has arisen from the recent consolidation in the sector. The Group aims to provide clinicians with a modern, next generation, single 'haemodynamic workstation' platform which offers them a range of technologies from simple to sophisticated to be deployed according to the patient's clinical condition as well as the skill and expertise of the user. Doing this will enable the Group to partner with 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 and the USA, and via agreements with approximately 40 distributors overseas.

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(END) Dow Jones Newswires

July 22, 2021 10:48 ET (14:48 GMT)

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