Feedback PLC Feedback Medical CEO appointed Feedback plc CEO (5008V)

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RNS Number : 5008V

Feedback PLC

09 April 2019

Feedback plc

CEO of Feedback Medical appointed CEO of Feedback plc

Cambridge, UK, 9 April 2019 - Feedback plc (AIM: FDBK, "Feedback", or the "Company"), the specialist medical imaging technology company, has appointed Dr Tom Oakley as its Chief Executive Officer with immediate effect. This follows his appointment as CEO of its operating subsidiary, Feedback Medical Ltd on 14 February 2019. Dr Alastair Riddell will resume the role of Non-Executive Chairman of Feedback, the position he held prior to becoming Executive Chairman in July 2018.

As announced on 14 February 2019, Dr Oakley is a qualified medical doctor with experience in radiology. He has significant expertise in successfully launching healthcare products and helping small companies to realise and grow their market potential, particularly within the digital healthcare space. He also brings strong clinical and academic experience to the Company, having been an NHS England Clinical Entrepreneur Fellow since 2016. He received his Bachelor of Medicine with distinction from the University of Southampton.

Tom Oakley, CEO of Feedback plc, said:

"I look forward to taking on this expanded role. Since joining Feedback Medical, I have seen first-hand the potential within the Company's innovative technology. I plan to complete a full review of the business over the coming weeks, to develop a strategy which will maximise Feedback's market position, identify growth areas and review new potential market areas within digital imaging."

Alastair Riddell, Non-Executive Chairman of Feedback plc, said:

"Tom is already making an impact on the Company and we welcome him stepping up to become CEO of Feedback plc. As an able and ambitious entrepreneurial radiology doctor with a proven track record in developing innovative medical products, he understands the technology and is well placed to drive the Company forward, towards market expansion."

Option Grant

In conjunction with his appointment, Tom Oakley has today been granted 9,332,081 options over new ordinary shares in the Company ("Options") (representing approximately 2.5 per cent. of the Company's issued share capital) pursuant to the Company's Employee Share Scheme. The Options have an exercise price of 1.09 pence per Option and are exercisable at any time up to the tenth anniversary of the grant.

The FCA notification in respect of the Option grant, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.

AIM Rules Disclosures

Thomas James Oakley, aged 31, is or has been during the last five years, a director or partner of the following companies and partnerships:

 
 Current directorships/partnerships   Past directorships/partnerships 
 
   *    Innovation Doctor Limited       *    Healthtech Check Ltd 
 
 
                                        *    Princes Castle Court Management Company Limited 
 
 
                                        *    Oakley Concepts Ltd 
 
 
                                        *    Locorum LLP 
 

There is no further information required to be disclosed pursuant to Schedule 2(g) of the AIM Rules.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

 
 1    Details of the person discharging managerial responsibilities 
       / person closely associated 
 a)   Name                        Thomas Oakley 
     --------------------------  ----------------------------------------- 
 2    Reason for the notification 
     --------------------------------------------------------------------- 
 a)   Position/status             Chief Executive Officer 
     --------------------------  ----------------------------------------- 
 b)   Initial notification        Initial notification 
       /Amendment 
     --------------------------  ----------------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer or auction monitor 
     --------------------------------------------------------------------- 
 a)   Name                        Feedback plc 
     --------------------------  ----------------------------------------- 
 b)   LEI                         213800UGOF2GT2U2RV90 
     --------------------------  ----------------------------------------- 
 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 the          Options over ordinary shares of 0.25p 
       financial instrument,       each in Feedback plc 
       type of instrument 
       Identification code         Identification code (ISIN) for Feedback 
                                   plc ordinary shares: 
                                   GB0003340550 
     --------------------------  ----------------------------------------- 
 b)   Nature of the transaction   Grant of Options 
     --------------------------  ----------------------------------------- 
 c)   Price(s) and volume(s)       Price(s)          Volume(s) 
                                    Exercise price 
                                     of 1.09p         9,332,081 
                                                     ---------- 
     --------------------------  ----------------------------------------- 
 d)   Aggregated information      N/A 
       - Aggregated volume 
       - Price 
     --------------------------  ----------------------------------------- 
 e)   Date of the transaction     9 April 2019 
     --------------------------  ----------------------------------------- 
 f)   Place of the transaction    Outside a trading venue 
     --------------------------  ----------------------------------------- 
 

Enquiries:

 
 Feedback plc 
  Tom Oakley, CEO                                     [phone] 
  Lindsay Melvin, CFO                                 [e-mail] 
 Allenby Capital Limited (Nominated Adviser) 
  David Worlidge / Asha Chotai                      [phone] 
 Peterhouse Corporate Finance Ltd (Joint Broker) 
  Lucy Williams / Duncan Vasey                      [phone] 
 Stanford Capital Partners Limited (Joint 
  Broker) 
  Patrick Claridge / John Howes                     [phone] 
 Instinctif Partners                                [phone] 
  Rozi Morris/ Deborah Bell/ Phillip Marriage        [e-mail] 
 

About Feedback plc

Feedback plc (AIM: FDBK) is a specialist medical imaging technology company providing innovative software and systems, through its fully-owned trading subsidiary, Feedback Medical Limited. Its products advance the work of radiologists, clinicians and medical researchers by improving workflows and giving unique insights into diseases, particularly cancer. Feedback Medical works with customers globally from headquarters in the internationally renowned scientific hub of Cambridge, UK. Its proprietary technologies are TexRAD(R) , the quantitative texture analysis tool and Cadran, a picture archiving communication system (PACS). For more information, see www.fbkmed.com/plc-landing-page

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April 09, 2019 02:00 ET (06:00 GMT)