EDX Medical Group PLC
This announcement contains inside information as
stipulated under the UK version of the Market Abuse
Regulation No 596/2014 which is part of English law by virtue of
the European (Withdrawal) Act 2018, as amended. On
publication of this announcement via a regulatory information
service, this information is considered to be in the public
domain.
01 November
2024
EDX Medical Group
plc
AQSE: EDX
("EDX Medical" or
the "Company")
Cancellation of
Warrants
CAMBRIDGE,
UK: EDX Medical Group plc, which
develops innovative digital diagnostic products and services
supporting personalised treatments for cancer, heart disease and
infectious diseases, announces that warrant holders who were
issued with a total of 5,370,000 warrants in 2021 have each agreed
to waive and cancel their rights to subscribe for Ordinary Shares
in EDX Medical in accordance with the terms of the Warrant
Instruments.
The warrants were issued at an exercise price
of 5p per warrant to the five founders of TECC Capital plc and its
Corporate Adviser at that time. TECC Capital was subsequently
subject to a Reverse Takeover by EDX Medical.
Jason Holt, chairman of EDX Medical, said: "The
cancellation now of warrants issued at 5p prior to the creation of
the EDX Medical Group will enhance stability and reduce future
potential dilution for existing shareholders.
"During the course of this year, the Company
has raised significant capital which has enabled us to progress at
pace our development of class-leading diagnostic products and also
take steps such as the cancellation of these legacy
warrants.
The Company has a remaining 12, 500, 000
warrants in place with an exercise price of 10p and 12,500,000 with
an exercise price of 20p.
The Company has 350,084,848 Ordinary Shares in
issue, each share carrying the right to one vote.
The directors of EDX Medical
accept responsibility for the contents of this
announcement.
Contacts:
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EDX Medical
Group plc
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Dr Mike Hudson (Chief Executive
Officer)
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+44 (0)7812 345 301
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Oberon
Capital
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Nick Lovering (Corporate
Adviser)
Adam Pollock (Corporate Broking)
Mike Seabrook (Corporate
Broking)
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+44 (0)20 3179 5300
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Media House
International
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Ramsay Smith
Gary McQueen
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+44 (0)7788 414856
ramsay@mediahouse.co.uk
+ 44 (0)7834 694609
gary@mediahouse.co.uk
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IFC Advisory
(Investor Relations)
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Tim Metcalfe
Graham Herring
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+44 (0) 203 934 6630
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Notes for
Editors:
About EDX
Medical Group
EDX Medical Group plc is listed on the
Apex Segment of the AQSE Growth Market (TIDM: EDX).
EDX Medical was founded by
Professor Sir Christopher Evans, OBE, a medical and life
sciences entrepreneur with more than 30 years of experience,
together with CEO, Dr Mike Hudson.
By translating clinical insights into pragmatic
solutions combining advanced biological and digital technologies,
EDX Medical seeks to cost effectively improve the detection and
characterisation of disease in order to personalise treatment in a
timely fashion. Early disease detection and biologically-based
personal treatment optimisation is considered to be the most
impactful way of reducing deaths and lowering the cost of
healthcare globally.
EDX Medical Group provides doctors,
hospitals and insurers/payers with access to a portfolio of the
best clinical diagnostics products and services. The Company
operates its own facilities in Cambridge and Oxford,
UK, and has strategic product and technology partnerships with
organisations such as Thermo Fisher EMEA Ltd, a world leader
in supplying life sciences solutions and services.
EDX Medical conducts product development,
validation and distribution to ISO 13485 and provides PCR services
accredited to ISO 15189 by the United Kingdom Accreditation
Service (UKAS).