Placing and Subscription for Shares
February 19 2020 - 2:00AM
Placing and Subscription for Shares
THIS ANNOUNCEMENT (THE "ANNOUNCEMENT")
AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR
RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY
OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL.
THIS ANNOUNCEMENT CONTAINS INSIDE
INFORMATION FOR THE PURPOSES OF THE MARKET ABUSE REGULATION
(596/2014/EU) ("MAR"). IN ADDITION, MARKET SOUNDINGS (AS DEFINED IN
MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE MATTERS CONTAINED IN
THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN PERSONS BECAME
AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY MAR. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW
CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE
INFORMATION.
DXS INTERNATIONAL PLC
Placing and Subscription
DXS International plc ("DXS", the "Company"),
the digital clinical decision support company, is pleased to
announce that it has through Hybridan LLP (“Hybridan”) raised in
excess of GBP 1,000,000 (before expenses) (the "Fundraising"), more
than twice oversubscribed and including new institutional
investors. The Fundraising comprises a placing of 12,475,000 New
Ordinary Shares (the "Placing") and a subscription of 200,000 new
Ordinary Shares (the "Subscription") all at a price of 8 pence per
share (the "Placing Price").
The Placing raised GBP 998,000 and the
Subscription GBP 16,000 for new ordinary shares of 0.33 pence each
("New Ordinary Shares"). David Immelman, the Company’s Chief
Executive Officer, and another senior manager participated in the
Subscription providing GBP 14,000 and subscribing for 175,000 New
Ordinary Shares at the Placing Price.
Application has been made for admission of the
New Ordinary Shares, with trading on the NEX Exchange Growth Market
("NEX") expected to commence on 26th February 2020 ("Admission").
Hybridan acted as sole broker to the Company on the
Fundraising.
The Placing and Subscription shares will
represent approximately 26.27 per. cent. of the total issued share
capital of the Company, post Admission and the issued share capital
of the Company will be 48,256,416 ordinary shares. This figure may
be used by shareholders as the denominator for the calculations by
which they will determine if they are required to notify their
interest in, or change to their interest in, the Company under the
FCA's Disclosure Guidance and Transparency Rules.
The net proceeds of the Fundraising, which will
be approximately GBP 955,000, will be used by the Company to invest
in the Group's operations. As an accredited NHS Supplier under the
new GP IT Futures programme (GPITF), the funding is to provide
working capital to take the company’s newly developed healthcare
solutions to market. GPITF is central to the NHS Long Term
Plan, the five-year framework for GP contract reform and the NHS’
Digital, Data and Technology Vision.
DXS is also pleased to announce that its core
solution was one of the first to be funded under this new GPITF
agreement and the transition to the new framework has been smooth
and included a modest price uplift.
These new solutions, into which the Company has
invested more than GBP 4 million, are aligned with the NHS’ long
term plan and are expected to have a significant positive impact on
the UK healthcare sector, initially in particular the treatment of
Hypertension.
NHS accreditation for our new solution suite,
which will ensure central NHS funding, is expected to be complete
by the end of April 2020. Early pilots and trials are receiving
positive feedback.
David Immelman, Chief Executive Officer, commented:
“We are delighted by the response to our first institutional
fundraise. It was 100% oversubscribed with the welcome
addition of new VCT and EIS funds onto our shareholder
register. The growth capital received will be directly put
towards growing our presence in the UK and build upon the already
2,000 strong GP practices in which we currently operate.
We also welcome the Government’s recent message stating that the
NHS adopting better technology is not a ‘nice to have’ but is vital
to its operation. This bodes well for DXS as we are one of
the very few NHS accredited suppliers of clinical decision support
tools to the healthcare sector”.
The Directors of DXS International plc accept
responsibility for this announcement
Contacts:
David
Immelman (Chief Executive)DXS International
plc |
01252 719800david@dxs-systems.com |
https://www.dxs-systems.co.uk |
|
Corporate
Advisor |
|
City &
Merchant Limited David
Papworth |
020 7101 7676 |
Corporate
Broker and sole broker to the
Placing |
|
Hybridan
LLPClaire Louise Noyce |
020 3764 2341 |
Notes to Editors
About DXS:
DXS International plc presents up to date
treatment guidelines and recommendations, from Clinical
Commissioning Groups and other trusted NHS sources, to doctors,
nurses and pharmacists in their workflow and during the patient
consultation. This effective clinical decision support ultimately
translates to improved healthcare outcomes delivered more cost
effectively and which should significantly contribute towards the
NHS achieving its projected efficiency savings.
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