Feedback PLC Issue of Equity (3249D)
April 26 2017 - 1:00AM
UK Regulatory
TIDMFDBK
RNS Number : 3249D
Feedback PLC
26 April 2017
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service ("RIS"), this inside information is now considered to be in
the public domain.
26 April 2017
Feedback plc
("Feedback" or the "Company")
Placing to raise GBP750,000
Feedback plc (AIM: FDBK), the medical imaging software company,
is pleased to announce the completion of a placing of 27,272,727
new ordinary shares of 0.25p each in the Company (the "Placing
Shares") at a price of 2.75 pence per Placing Share (the "Placing
Price") to raise a total of GBP750,000 (before expenses) (the
"Placing"). The Placing is subject to admission of the Placing
Shares to trading on AIM ("Admission"). Application has been made
for the Placing Shares to be admitted to trading on AIM and it is
expected that Admission will take place on 2 May 2017.
The net proceeds from the Placing will be used to invest in
product development, sales and marketing, primarily for TexRAD,
Feedback's patented quantitative medical imaging software, as well
as for general working capital purposes.
The Placing Shares will represent, in aggregate, approximately
11.08 per cent. of the Company's issued ordinary share capital as
enlarged by the issue of the Placing Shares. The Placing was
conducted within the Company's existing share allotment
authorities. The Placing Shares, when duly issued and fully paid,
will rank pari passu in all respects with the Company's existing
ordinary shares. The Placing has not been underwritten.
On Admission, the shareholdings of those directors who hold
shares in Feedback will be as follows:
Holding Percentage
of ordinary of Enlarged
shares Share
Director Capital
Dr Alastair Riddell (Non-executive
Chairman) 5,000,000 2.03%
Dr Balaji Ganeshan (Executive
Director) 2,860,000 1.16%
Mike Hayball (Executive
Director) 5,670,600 2.30%
Tom Charlton (Non-executive
Deputy Chairman) 59,637,408 24.27%
Trevor Brown (Non-executive
Director) 55,089,111 22.39%
Total Voting Rights
The Placing is conditional, among other things, upon Admission
becoming effective. Following Admission, the Company's issued
ordinary share capital will consist of 246,066,584 ordinary shares,
with one voting right each. The Company does not hold any ordinary
shares in treasury. Therefore, the total number of ordinary shares
and voting rights in the Company will be 246,066,584. With effect
from Admission, this figure may be used by shareholders in the
Company 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 FCA's Disclosure and Transparency Rules.
**ENDS**
For further information, please contact:
Feedback plc Tel: 01954 718072
Alastair Riddell
Allenby Capital Limited (Nominated Tel: 020 3328
Adviser and Joint Broker) 5656
David Worlidge / Virginia Bull /
James Thomas
Northland Capital Partners Ltd (Joint Tel: 020 3861
Broker) 6625
Patrick Claridge / Margarita Mitropoulou
Peterhouse Corporate Finance Ltd Tel: 020 7469
(Joint Broker) 0936
Lucy Williams / Duncan Vasey
This information is provided by RNS
The company news service from the London Stock Exchange
END
IOEGMGZDNKRGNZM
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