Result of EGM
24 August 2004 - 12:32PM
UK Regulatory
RNS Number:2495C
Medisys PLC
24 August 2004
24 August 2004
Medisys PLC
("Medisys" or the "Group")
EGM Statement
Shareholder approval of #5 million (net of expenses) fundraising
Medisys announces that, at the extraordinary general meeting, held at 10.00 am
today, the resolution in connection with the Company's #5.0 million (net of
expenses) fundraising was passed.
On 29 July 2004, Medisys announced that the Group had entered into an agreement
to supply its Advance Micro-draw blood glucose monitoring product to Liberty
Healthcare, Inc., and also announced the terms of a Placing and Open Offer to
issue up to 95,034,136 new Ordinary Shares at 6.75 pence per share (the "New
Ordinary Shares").
The Open Offer to Qualifying Shareholders closed at 3.00 pm on 19 August 2004.
Valid acceptances were received in respect of 31,547,012 Open Offer Shares,
including the 3,265,885 New Ordinary Shares certain Directors agreed to take
up under the Open Offer. These shares represent a total of 56.43 per cent of
those available under the Open Offer. A further 52,074,067 New Ordinary Shares
were placed with institutional investors. Accordingly, the Company has raised
approximately #5.0 million (net of expenses) pursuant to the Placing and Open
Offer by the issue of 83,621,079 New Ordinary Shares.
The New Ordinary Shares issued pursuant to the fundraising are expected to be
admitted to the Official List of the UK Listing Authority and to trading on the
London Stock Exchange's market for listed securities at 8.00 am on 25 August
2004 and will rank pari passu with the existing class of ordinary shares.
David Conn, Chief Executive Officer of Medisys, commented:
"Encouraging recent progress, demonstrated by Wal*Mart's national roll-out of
NewTek ahead of schedule, together with the recent agreement reached with
Liberty, the leading direct to consumer supplier of diabetes products, marks the
achievement of two major milestones for Medisys. The proceeds from this
successful fundraising will enable us to fund the significant expansion of our
US blood glucose monitoring business and will strengthen the Group's balance
sheet."
Enquiries:
Medisys PLC 020 7563 5200
David Conn, Chief Executive Officer
Michael Barry, Chief Financial Officer
Code Securities 020 7024 2000
Phil Walker / Juliet Thompson
Weber Shandwick Square Mile 020 7067 0700
Kevin Smith / Sarah MacLeod
This information is provided by RNS
The company news service from the London Stock Exchange
END
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