24th Apr 2024 14:32
(Alliance News) - EDX Medical Group PLC on Wednesday said its shares are now eligible to begin trading on the Apex segment of the Aquis Stock Exchange in London.
The Cambridge, England-based company that develops digital diagnostic products and services to treat cancer, heart disease, and infectious diseases said this will take effect from Monday next week.
It noted that the Apex segment is reserved for "larger, more established businesses with a proven growth strategy and which meet high standards of corporate governance".
EDX Medical said the eligibility criteria includes having at least 25% of shares trading publicly, having at least 25 shareholders and two years of trading history.
"This move reflects the success of our growth strategy since admission to the market in November 2022 and the evolution of our business. We were particularly pleased with the support from investors during our successful fundraising earlier this year which enables us to accelerate our product development programme," said Chief Executive Officer Mike Hudson.
"Our move to the Apex segment will provide further visibility for investors, and we welcome the increased emphasis on transparency, liquidity, and corporate governance, which align strongly with our own values."
Aquis Exchange PLC CEO Alasdair Haynes also commented: "It's fantastic to see how the company has progressed so far, and I am proud that Aquis can offer a tailored experience for growth companies that allows for increased exposure to investors at appropriate stages."
Shares in EDX Medical were untraded and quoted at 9.00 pence each on AQSE in London on Wednesday afternoon, while Aquis Exchange shares were down 1.5% to 468.13p each on AIM in London.
By Greg Rosenvinge, Alliance News senior reporter
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