Lombard Medical Technologies PLC Result of Offer (9348G)
June 13 2013 - 2:00AM
UK Regulatory
TIDMLMT
RNS Number : 9348G
Lombard Medical Technologies PLC
13 June 2013
Press Information
Lombard Medical Technologies PLC
("Lombard Medical" or "the Company")
Result of Offer
London, UK, 13 June 2013 - On 24 May 2013, Lombard Medical
Technologies PLC (AIM:LMT) announced an issue of equity to raise
GBP21.0 million (before expenses) by way of a Placing and
Subscription. In conjunction with the Placing and Subscription, the
Board also announced details of an Offer to Qualifying Participants
to raise up to an additional GBP2.0 million (before expenses). The
Board also announced that the Convertible Loan Notes issued to
Invesco Asset Management Limited would be converted into ordinary
shares.
The Company is pleased to announce that, at the close of the
Offer at 11.00 a.m. on 12 June 2013, Qualifying Participants had
conditionally applied for 398,518 New Ordinary Shares at a price of
175 pence per New Ordinary Share, raising an additional GBP0.7
million (before expenses).
Application has been made for 14,541,375 New Ordinary Shares,
being the total number of New Ordinary Shares being issued under
the Placing and Subscription, the Offer and the conversion of the
Convertible Loan Notes, to be admitted to trading on AIM. Subject
to and conditional upon the passing of the Resolutions at the
forthcoming General Meeting, admission is expected to become
effective on 17 June 2013.
Further details of the Placing, Subscription and Offer were set
out in the announcement published by the Company on 24 May
2013.
Definitions used in this announcement will have the same meaning
as those used in the Circular, unless the context requires
otherwise.
-Ends-
For further information:
Lombard Medical Technologies PLC Tel: 01235 750 800
Simon Hubbert, Chief Executive Officer
Ian Ardill, Chief Financial Officer
Canaccord Genuity Limited Tel: 020 7523 8000
Lucy Tilley / Tim Redfern / Henry Fitzgerald
O'Connor / Dr Julian Feneley
WG Partners Tel: 020 7149 3627
David Wilson / Claes Spång
FTI Consulting Tel: 020 7831 3113
Simon Conway / Susan Stuart / Victoria
Foster Mitchell
About Lombard Medical
Lombard Medical Technologies PLC (AIM: LMT), is a medical device
company focused on device solutions for the $1.2 billion dollar per
annum abdominal aortic aneurysm (AAA) repair market. AAAs are a
balloon-like enlargement of the aorta which, if left untreated, may
rupture and cause death. Approximately 4.5 million people are
living with AAAs in the developed world and each year 600,000 new
cases are diagnosed. The market for endovascular stent grafts for
this application is expected to grow to $1.6 billion by 2015. The
Company's lead product, Aorfix(TM), is an endovascular stent graft
which has been specifically designed to solve the problems that
exist in treating complex tortuous anatomy which is often present
in advanced AAA disease. Aorfix(TM) is currently being
commercialised in the EU, and has been approved by the FDA in the
U.S., the first AAA stent graft not of U.S. origin to gain FDA
approval.
The Company is headquartered in Oxfordshire, with operations in
Ayrshire and Phoenix, USA.
Further background on the Company can be found at
www.lombardmedical.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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