REG - Feedback PLC - Result of Open Offer and General Meeting
RNS Number : 7408RFeedback PLC01 July 2020The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR").
Feedback plc
Result of Open Offer and General Meeting
London, 1 July 2020: Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist medical imaging technology company, announced on 15 June 2020, that it had conditionally raised £5.05 million through the placing of 505,000,000 new ordinary shares in the Company, and, in addition, had provided all qualifying shareholders with the opportunity to subscribe for an aggregate of up to 53,994,991 new ordinary shares at the issue price of 1 penny per share, pursuant to the Open Offer.
Result of Open Offer
Feedback announces that valid applications were received in respect of, in aggregate, 21,981,769 Open Offer Shares, raising gross proceeds of £219,817.69. Therefore, the total amount raised pursuant to the Placing and Open Offer is approximately £5.27 million. Both the Open Offer and the Placing were conditional on shareholder approval at the general meeting held earlier today.
Result of General Meeting
The Company announces that, at its general meeting held earlier today, all resolutions were duly passed. As a result, the 505,000,000 Placing Shares and 21,981,769 Open Offer Shares are expected to be admitted to trading on AIM on 3 July 2020 ("Admission"). The proxy voting results of the resolutions were as follows:
Resolutions
Votes For*
% of votes cast**
Votes Against
% of votes cast**
Votes Withheld**
Total votes cast**
Ordinary Resolutions
1. To authorise the directors to allot Ordinary Shares pursuant to the Placing and Open Offer
207,687,480
99.89
221,474
0.11
44,560
207,908,954
2. To authorise the directors to allot further shares (or grant rights in respect thereof) pursuant to Section 551 of the Companies Act 2006
207,657,443
99.89
221,474
0.11
74,597
207,878,917
Special Resolutions
3. General disapplication of pre-emption rights on Ordinary Shares pursuant to the Placing and Open Offer
207,657,443
99.89
221,474
0.11
74,597
207,878,917
4. To authorise the directors to allot further equity securities pursuant to Section 570 of the Companies Act 2006
207,657,443
99.89
221,474
0.11
74,597
207,878,917
*Votes "For" include votes giving the Chairman discretion.
** A 'Vote Withheld' is not a vote in law and has not been counted in the calculation of the proportion of the votes 'For' and 'Against' a resolution, nor in the "Total votes cast".
Director Shareholding
Rory Shaw, Chairman of Feedback, has subscribed for 416,667 new ordinary shares pursuant to the Open Offer. Therefore, from Admission, Rory Shaw will hold 4,583,334 ordinary shares, representing 0.43 per cent. of the Company's issued share capital. The FCA notification, made in accordance with the requirements of the EU Market Abuse Regulation, is appended below.
Total Voting Rights
On Admission, the Company will have 1,066,931,686 ordinary shares of 0.25p each in issue, each with one voting right. There are no shares held in treasury. Therefore, from Admission, the total number of ordinary shares and voting rights in the Company will be 1,066,931,686.
The above figure of 1,066,931,686 may be used by shareholders from Admission 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 Company under the FCA's Disclosure Guidance and Transparency Rules.
Defined terms used in this announcement shall have the same meaning as in the announcement of 15 June 2020 unless otherwise defined herein.
Enquiries:
Feedback plc
Tom Oakley, CEO
Lindsay Melvin, CFO
+44 (0)1954 718072
Allenby Capital Limited (Nominated Adviser)
David Worlidge / Asha Chotai
+44 (0)20 3328 5656
Peterhouse Capital Limited (Joint Broker)
Lucy Williams / Duncan Vasey
+44 (0)20 7469 0936
Stanford Capital Partners Limited (Joint Broker)
Patrick Claridge / John Howes
+44 20 3815 8880
Instinctif Partners
Melanie Toyne-Sewell / Phillip Marriage
+44 (0)20 7457 2020
+44 7890 022 814
Notes to editors
About Feedback plc - www.fbk.com
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 has launched Bleepa, a new secure, encrypted medical communication app for clinicians accessible through smartphones, tablets and desktops that facilitates rapid clinical messaging and review of medical grade imaging for all members of a clinical team, directly from a hospital Picture Archiving and Communications System (PACS). For more information on Bleepa Ⓡ , see www.bleepa.com .
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
Rory Shaw
2
Reason for the notification
a)
Position/status
Chairman
b)
Initial notification /Amendment
Initial notification
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 financial instrument, type of instrument
Identification code
Ordinary Shares of 0.25p each
Identification code (ISIN) for Feedback plc ordinary shares: GB0003340550
b)
Nature of the transaction
Subscription of Ordinary Shares pursuant to the Open Offer
c)
Price(s) and volume(s)
Price(s)
Volume(s)
1p
416,667
d)
Aggregated information
- Aggregated volume
- Price
N/A
e)
Date of the transaction
1 July 2020
f)
Place of the transaction
Outside a trading venue
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.ENDMSCKKDBQDBKDBOK
Recent news on Feedback
See all newsREG - Feedback PLC - Trading Update
AnnouncementREG - Feedback PLC - New tuberculosis partnership in India
AnnouncementREG - Feedback PLC - Further CDC Pilot Programme Secured
AnnouncementREG - Feedback PLC - Holding(s) in Company
AnnouncementREG - Feedback PLC - Medical Imaging Partnership Pilot Agreement
Announcement