Lombard Medical Technologies PLC Suspension of trading on AIM (4935F)

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RNS Number : 4935F

Lombard Medical Technologies PLC

25 April 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Lombard Medical Technologies PLC

("Lombard Medical", or "the Company")

Suspension of trading on AIM

and

Pricing of Lombard Medical, Inc. NASDAQ IPO

London, UK, 25 April, 2014- On 26 February 2014, Lombard Medical (AIM: LMT), the specialist medical device company focused on Endovascular Aortic Repair of abdominal aortic aneurysms, announced that it had published a circular which set out the Board of Directors' recommendations to, inter alia, reorganise the Lombard Medical Technologies Group pursuant to a Court approved scheme of arrangement (the "Scheme") so that Lombard Medical becomes a directly-owned subsidiary of Lombard Medical, Inc ("LM, Inc").

Earlier today, LM, Inc. announced the pricing of the initial public offering on the NASDAQ Global Market of 5,000,000 ordinary shares at a price to the public of $11 per share, raising $55 million. In addition, LM, Inc. has granted the underwriters a 30-day option to purchase up to an additional 750,000 ordinary shares from LM, Inc.

Ahead of the Court Hearing to approve the Scheme, scheduled to take place on Tuesday 29 April 2014, shares in the Company will be suspended from trading on AIM from 7.30 a.m. BST today.

Following Court approval, the Scheme is expected to become effective on 30 April 2014 and trading in shares in the Company will be cancelled on AIM at 7.00 a.m. BST (2.00 a.m. ET).

Shares in LM, Inc. are expected to commence trading on the NASDAQ Global Market at 2.30 p.m. BST (9.30 a.m. ET) on 30 April 2014.

This press release and the information it contains is not for publication or distribution, directly or indirectly, in or into the United States. This press release is not intended to, and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

-Ends-

For further information:

 
 Lombard Medical Technologies PLC       Tel: +44 (0)1235 750 800 
  Simon Hubbert, Chief Executive 
  Officer 
  Ian Ardill, Chief Financial Officer 
                                         Tel: +44 (0)1235 750 800 
  Lombard Medical, Inc 
  Simon Hubbert, Chief Executive 
  Officer 
  Ian Ardill, Chief Financial Officer 
 
 Canaccord Genuity Limited (Nomad)      Tel: +44 (0)20 7523 8000 
  Lucy Tilley / Tim Redfern / Henry 
  Fitzgerald O'Connor / Dr Julian 
  Feneley 
 
 FTI Consulting (UK)                    Tel: +44 (0) 203 727 1000 
  Simon Conway / Stephanie Cuthbert 
  / Victoria Foster Mitchell

About Abdominal Aortic Aneurysms ("AAA")

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 over 500,000 new cases are diagnosed. In the US, aortic aneurysm disease is among the leading causes of death and it is estimated that 1.7 million people over the age of 55 have an abdominal aortic aneurysm.

About Lombard Medical

Lombard Medical Technologies PLC (AIM: LMT) is a medical device company focused on device solutions for the $1.4 billion per annum abdominal aortic aneurysm repair market. 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 is the only stent graft approved for AAA neck angulations of up to 90 degrees and is currently being commercialized worldwide. Aorfix is the first AAA stent graft not of US origin to gain US FDA approval. The Company is headquartered in Oxfordshire, England with US operations in Irvine, CA.

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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