29th Apr 2015 16:36
29 April 2015
Sphere Medical Holding plc
PDMR / Director Shareholding
Cambridge, UK, 29 April 2015: Sphere Medical Holding plc (AIM: SPHR.L), ("Sphere Medical" or the "Company") a leading provider of innovative monitoring and diagnostic devices for the critical care setting, announces that, further to the announcement of the results of the Open Offer earlier today, the following Directors subscribed for Open Offer Shares at the Issue Price of 16 pence as detailed below.
Directors Participation in the Open Offer
Name of Director | Number of Open Offer Shares acquired | Total number of ordinary shares immediately following Open Offer Shares Acquired | Percentage of enlarged share capital immediately following Open Offer Shares Acquired |
Dr Anthony Martin | 187,500 | 417,554 | 0.63% |
Dr Wolfgang Rencken | 218,750 | 230,720 | 0.35% |
John Gregory | 46,875 | 90,744 | 0.14% |
Stephen H. Mahle | 93,750 | 152,888 | 0.23% |
As indicated in the Company's circular dated 13 April 2015 certain of the Directors are also intending to participate in the Placing, details of such participation will be announced in due course and are not included in the above table.
The Fundraising remains conditional, inter alia, on the approval of Shareholders at a General Meeting to be held at 10.00 am on 30 April 2015 and Admission which is expected to become effective on 1 May 2015.
Unless otherwise defined, terms in this announcement shall have the same meanings as those defined in the shareholder circular dated 13 April 2015.
For further information, please contact:
Sphere Medical Holding plc | Tel: +44 (0)1223 875 222 | |
Dr Wolfgang Rencken, Chief Executive Officer | ||
Matthew Hall, Chief Financial Officer | ||
Peel Hunt LLP | Tel: +44 (0) 20 7418 8900 | |
James Steel | ||
Oliver Jackson | ||
Jock Maxwell Macdonald | ||
finnCap | Tel: +44 (0) 20 7220 0500 | |
Geoff Nash / Simon Hicks | ||
Stephen Norcross | ||
Consilium Strategic Communications | Tel: +44 (0) 20 3709 5700 | |
Mary-Jane Elliott | ||
Ivar Milligan | ||
Matthew Neal | ||
Notes for Editors
About Sphere Medical (AIM: SPHR.L)
Sphere Medical is a medical device company developing and commercialising a range of innovative monitoring and diagnostic devices designed to significantly improve patient care.
Sphere Medical's vision is to become a leading solution provider to the critical care market offering innovative, near real time, point of care diagnostic and monitoring products to enable closer control of therapeutic response and improve patient outcomes and reduce the overall cost of care.
The Company's strategy is focused on developing the Proxima (CE marked device) platform for measuring blood gases, electrolytes and metabolites. The Company is already marketing its Proxima product directly to the critical care market, which includes the ICU and OR, with a dedicated field sales force in the UK. Sphere Medical has plans to follow in Germany and Benelux via a direct sales force in Europe and proposes to work with partners for worldwide distribution.
Proxima delivers near real time analysis of blood gases and electrolytes metabolites, at the patient's bedside. Proxima can be used on patients across a wide therapeutic range, enabling faster clinical decision making and improved patient outcomes, whilst potentially reducing costs for healthcare payers.
Sphere Medical entered into a collaboration agreement with Ortho Clinical Diagnostics, Inc. in 2013 for the development of Proxima and enhancement of Sphere Medical's operational and production capabilities.
Sphere Medical has a number of partnerships with industry leading medical device companies and has received a strategic investment from Ortho Clinical Diagnostics (now part of Carlyle Group).
For further information, please visit www.spheremedical.com
Related Shares:
Sphere Medical Holding