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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.
For further information:
Lombard Medical Technologies PLC Tel: 01235 750 800
Simon Hubbert, Chief Executive Officer
Ian Ardill, Chief Financial Officer
Canaccord Genuity Limited
Lucy Tilley / Tim Redfern / Henry Fitzgerald O’Connor / Dr Julian Feneley Tel: 020 7523 8000
WG Partners
David Wilson / Claes Spång Tel: 020 7149 3627
FTI Consulting
Simon Conway / Susan Stuart / Victoria Foster Mitchell Tel: 020 7831 3113
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™, 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 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.
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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.
For further information:
Lombard Medical Technologies PLC Tel: 01235 750 800
Simon Hubbert, Chief Executive Officer
Ian Ardill, Chief Financial Officer
Canaccord Genuity Limited
Lucy Tilley / Tim Redfern / Henry Fitzgerald O’Connor / Dr Julian Feneley Tel: 020 7523 8000
WG Partners
David Wilson / Claes Spång Tel: 020 7149 3627
FTI Consulting
Simon Conway / Susan Stuart / Victoria Foster Mitchell Tel: 020 7831 3113
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™, 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 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.
Help employers find you! Check out all the jobs and post your resume.
