Cambridge, 25 October 2018: Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the specialist medical imaging technology company, announces that it has conditionally raised a total of £1.375 million (before expenses) via a proposed placing, by Peterhouse Capital Limited, and subscription of a total of 91,666,666 new ordinary shares (“New Ordinary Shares”), at an issue price of 1.5 pence per New Ordinary Share (the “Issue Price”).
Approximately £832,000 (before expenses) has been raised pursuant to the Company's existing share authorities (the “Placing”), and a further £543,000 has been raised subject to, inter alia, the approval of Shareholders at a General Meeting of the Company (the “Subscription”).
Further information on the Company, current trading and its strategy is set out below and in the shareholder circular which is expected to be posted to shareholders on or around 29 October 2018 (the "Circular").
Use of Proceeds:
Dr Alastair Riddell, Executive Chairman of Feedback said:
“We are pleased to have received support from existing and new investors. This is a strong endorsement of Feedback and our strategy at a time of general market uncertainty.”
“This placing will enable Feedback to continue to invest in the further growth of the business. In particular, in the fields of image analysis with TexRAD®, and AI applications in linking image data to anonymised patient data with Cadran. In addition, beginning the process of seeking US FDA approval for TexRAD® can now be properly resourced. Expanding our sales, marketing and customer support capabilities, will ensure that we can build on the significant momentum generated this year.”
Notice of General Meeting and Shareholder Circular
The Subscription is conditional, inter alia, on the approval of shareholders of resolutions to be proposed at a general meeting of the Company to provide authority to the Directors to allot further new ordinary shares otherwise than on a pre-emptive basis.
A General Meeting of the Company will be held at the offices of Peterhouse Capital Limited, New Liverpool House, 15 Eldon St, London EC2M 7LD at 10.00 a.m. on 15 November 2018, to seek this shareholder approval. A Circular containing a Notice of General Meeting will be posted to shareholders on or around 29 October 2018 and will be available on the Company's website, www.fbkmed.com, shortly thereafter.
For the full announcement, see here: https://otp.tools.investis.com/clients/uk/feedback_plc/rns/regulatory-story.aspx?cid=2418&newsid=1202349
About Feedback plc
Feedback plc (AIM: FDBK) is a specialist medical imaging technology company providing innovative software and systems, through its fully-owned trading subsidiary, Feedback Medical Limited. Its products advance the work of radiologists, clinicians and medical researchers by improving workflows and giving unique insights into diseases, particularly cancer. Feedback Medical works with customers globally from headquarters in the internationally renowned scientific hub of Cambridge, UK. Its proprietary technologies are TexRAD®, the quantitative texture analysis tool and Cadran, a picture archiving communication system (PACS). For more information, see www.fbk.com
Issued for and on behalf of Feedback plc by Instinctif Partners.
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