1st May 2015 08:55
1 May 2015
Sphere Medical Holding plc
PDMR / Director Shareholding, Grant of Share Options, Appointment of Non-
Executive Director, Change of Registered Office
Cambridge, UK, 1 May 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 82,352,582 New Ordinary Shares issued in connection with the Placing and Open Offer have today been admitted to trading on AIM.
Following Admission, the Company now has 141,757,872 Ordinary Shares in issue. This figure may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the AIM Rules.
Directors' Shareholdings
Following the announcements made on 29 April 2015 and pursuant to the Fundraising and as referred to in the Company's circular to shareholders dated 13 April 2015, certain of the Directors have subscribed for New Ordinary Shares in the Placing and / or Open Offer at the issue price of 16 pence per share. The number of New Ordinary Shares each Director subscribed for pursuant to the Placing and / or the Open Offer and their corresponding shareholdings immediately following Admission, are set out below:
Name of Director | Number of Open Offer Shares subscribed for (as announced on 29 April 2015) | Number of Placing Shares subscribed for | Total holding of Ordinary Shares immediately following Admission | Percentage of issued share capital immediately following Admission |
Dr Anthony Martin | 187,500 | - | 417,554 | 0.29% |
Dr Wolfgang Rencken | 218,750 | 218,750 | 449,470 | 0.32% |
John Gregory | 46,875 | - | 90,745 | 0.06% |
Stephen H. Mahle | 93,750 | - | 152,888 | 0.11% |
Meinhard Schmidt | - | 187,500 | 187,500 | 0.13% |
Dr David Martyr | - | 125,000 | 125,000 | 0.09% |
Grant of Share Options
The following share options were granted on 1 May 2015, pursuant to Share Option Schemes, to the following Directors:
Name of Director | Number of Share Options Granted | Exercise Price |
Dr Wolfgang Rencken, CEO | 2,260,000 | 16 pence |
Matthew Hall, CFO | 1,340,000 | 16 pence |
Dr Anthony Martin, Non-Executive Chairman | 100,000 | 16 pence |
Mr John Gregory, Non-Executive Director | 100,000 | 16 pence |
Mr Stephen Mahle, Non-Executive Director | 100,000 | 16 pence |
Dr David Martyr, Non-Executive Director | 100,000 | 16 pence |
Mr Meinhard Schmidt, Non-Executive Director | 100,000 | 16 pence |
All share options were issued under the Company's Unapproved Share Option Scheme and are exercisable over ordinary shares of 1 pence each in the share capital of the Company. The exercise price of 16 pence equates to the Issue Price of the Placing and Open Offer.
These share options are subject to vesting conditions and a minimum holding period of five years from grant. The issue of these share options has been approved by the Company's Remuneration Committee.
Appointment of new Non-Executive Director
The Company is pleased to announce the appointment of Mr Brenig Gwilym Preest (aged 42) as a Non-Executive Director of the Company with immediate effect.
Mr Preest has spent over 15 years in the investment and corporate finance sector, primarily investing in high growth medical technology and biotechnology opportunities and has been involved with over £500m of investments. His early career was at Amersham International (now GE Healthcare) and Coopers & Lybrand (now PwC) and is currently an investment director at Arthurian Life Sciences Limited, a venture capital firm, which provides management services to the Wales Life Sciences Investment Fund LP (being a fund raising up to £100 million focused on life sciences). Mr Preest is a chartered accountant, studied Pharmacology at Cardiff University, Financial Strategy at Oxford University and was previously elected regional president for the ICAEW.
Mr Preest has not held any directorships within the past 5 years, however, Mr Preest has previously been a director of Abcellute Limited (dissolved), Dragon Digital Intermediate Limited and Nightingale Care Bed Holdings Limited. No further information is required to be disclosed under Rule 17 of the AIM Rules.
Change of Registered Office
In accordance with the terms of the side letter between Arthurian Life Sciences Limited and the Company dated 13 April 2015, the Company has changed its registered office with immediate effect to the following address: Life Sciences Hub Wales, 3 Assembly Square, Cardiff CF10 4PL.
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