Feedback PLC Issue of Equity (0178P)
June 03 2015 - 1:00AM
UK Regulatory
TIDMFDBK
RNS Number : 0178P
Feedback PLC
03 June 2015
3 June 2015
Feedback plc
("Feedback" or the "Company")
Issue of Equity
Feedback plc (AIM: FDBK), the medical imaging software company,
is pleased to announce that it has placed 11,111,111 new ordinary
shares of 0.25 pence each (the "Placing Shares") at a price of 1.8
pence per ordinary share with a number of existing and new
investors raising GBP200,000 (the "Placing"). The Placing has been
completed by Peterhouse Corporate Finance Limited.
The proceeds of the Placing will fund continuing development of
the TexRAD software.
The Placing includes participation by two of Feedback's
directors, Tom Charlton who invested GBP50,400 for 2,800,000
Placing Shares and Trevor Brown who invested GBP18,000 for
1,000,000 Placing Shares (the "Participating Directors") both at a
price of 1.8 pence per ordinary share. Following the Placing, the
Participating Directors will be interested in a total of
104,613,919 ordinary shares in the Company representing 51.83% of
the enlarged issued share capital of the Company. The shareholdings
of the Participating Directors on completion of the Placing will be
as follows:
Director No. of Shares %
Trevor Brown 55,089,111 27.29
Tom Charlton 49,524,808 24.53
The Placing Shares will rank pari passu with the existing
Ordinary Shares and application will be made for the Placing Shares
to be admitted to trading on AIM ("Admission"). It is expected that
Admission will become effective and dealings in the Placing Shares
will commence by 8.00 a.m. on 8 June 2015.
Following Admission of the Placing Shares, the Company's
enlarged issued share capital will consist of 201,857,857 ordinary
shares with voting rights. This number may be used by shareholders,
following the Placing, 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 Financial Conduct Authority's Disclosure and
Transparency Rules.
Related Party Transaction:
Due to the fact that Trevor Brown and Tom Charlton are directors
of the Company and the size of their respective shareholdings,
their participation in the Placing constitutes a related party
transaction as defined in the AIM Rules. Simon Barrell,
Non-Executive Chairman, has not participated in the Placing and is
therefore deemed to be independent under the AIM Rules for the
purposes of considering the related party transaction (the
"Independent Director"). The Independent Director, having consulted
with Sanlam Securities UK Limited, the Company's nominated adviser,
considers that the terms of the participation in the Placing by the
Participating Directors are fair and reasonable insofar as the
Company's shareholders are concerned.
For further information please contact:
Feedback plc Tel: 01954 718072
Simon Barrell / Trevor Brown / Tom Charlton
Sanlam Securities UK (Nominated Adviser and Joint Broker) Tel: 020 7628 2200
Simon Clements / Virginia Bull/ Andrew Wagstaff
Peterhouse Corporate Finance Ltd (Joint Broker) Tel: 020 7469 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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