26th Nov 2008 07:00
Embargoed Release: 07:00hrs, Wednesday 26th November 2008
Toumaz Holdings Limited (`Toumaz Holdings', the `Company' or the `Group') Placing and Directors' Shareholdings
Toumaz Holdings is pleased to announce it has conditionally placed 13,958,331 new ordinary shares of 0.25p each (`Placing'), in the Company at a price of 6p, raising ‚£837,499.86. Among the existing and new shareholders subscribing to the Placing, the Group's executive chairman Sir Richard Sykes accounted for 1,666,666 of the total shares issued and Phillipe Tischauser, non-executive director, acquired 933,333 shares. The Board believes the placing price of 6p represents the confidence investors have in the progress Toumaz has made in commercialising its product portfolio.
The proceeds of the placing will be largely used to provide working capital for its 100% owned investment Toumaz Technology Limited (`Toumaz Technology'), which continues to progress and implement its multi-application, end-to-end branded solution, the Sensium¢â€ž¢. Projected revenues for Toumaz Technology are expected to exceed the company's expectations of ‚£2,500,000 compared with less than ‚£200,000 for the corresponding period in 2007. This rapid growth in the company's income is firm verification of Toumaz Technology's progress to-date; it also provides the springboard for 2009, when the Board anticipates it will realise its stated objective of the further commercialisation of its cutting edge technology, based around the Sensium¢â€ž¢.
Designed and developed by Toumaz Technology, the Sensium¢â€ž¢ is an ultra-low power system-on-chip technology platform with a wireless infrastructure that enables continuous, intelligent non-intrusive body monitoring. It offers an end-to-end telecare solution that, with related applications currently being co-developed with Toumaz Technology's partners, provide real insight into an individual's overall health status. The Sensium¢â€ž¢ captures robust physiological data, such as multiple vital signs, in real-time which is merged with electronic medical records, patient history, current care and drug regime details. The collated data presents comprehensive health information that can be used to transform healthcare possibilities by providing flexible, lifestyle-compatible, personalised healthcare from the hospital bed to telecare to out-patient management. The Sensium¢â€ž¢ is ideally placed to ease pressures on the global healthcare industry as it copes with increasingly ageing populations as well as tempering the accelerating costs of in- and out-patient care.
Toumaz Technology's commercial programme remains focused on its key customers and partners: Texas Instruments Inc. (`Texas Instruments'), Cardinal Health Inc. (Cardinal Health') and Infineon Technologies AG (`Infineon'). The company's continuous punctual deliverance of key milestones with Cardinal Health has ensured its programme remains on track: early beta samples of the Sensium¢â€ž¢ digital plaster, which is initially targeting sales in the hospital sector, will be available in the first half of 2009. Other products that have been developed by Toumaz Technology and incorporate the Sensium¢â€ž¢'s technology are expected to be available in February and will be initially be used in clinical trials within the UK, allowing fast-track progress to EU CE certification, a medical regulatory requirement.
The placing is conditional on the Placing Shares being admitted to trading on AIM, following which Toumaz Holdings will have a total issued share capital of 240,717,461 Ordinary Shares. The Placing Shares will, on issue, rank pari passu in all respects with the existing Ordinary Shares in issue. Application will be made for the Placing Shares to be admitted to trading on AIM, which is expected to be on or around 28th November 2008.
Director's Shareholding
Following the Placing, Sir Richard Sykes, director and executive chairman-elect, holds 1,666,666 ordinary shares of 0.25p each, on (`Ordinary Shares') on 25th November 2008 at a price of 6p per share. Sir Richard Sykes' total interest in 1,666,666 Ordinary Shares represents 0.69% of the Company's enlarged issued share capital.
In addition, Mr Philippe Tischhauser, non-executive director, participated in the Placing, purchasing 933,333 Ordinary Shares on 25th November 2008 at a price of 6p per share. Mr Tischhauser is now interested in a total of 933,333 Ordinary Shares representing 0.387% of the Company's total issued share capital.
Guy Spelman, chief executive officer of Toumaz Holdings, commented:
`We are delighted that in this volatile financial period we have not only been able to successfully secure further funding for Toumaz Holdings but that we have managed to do so at a significant premium to the Group's recently trading share price. We are also very pleased that Sir Richard Sykes has participated so significantly in the Placing; this, and the continued support from existing investors is testament of their confidence that our investments will unlock considerable value in the future. For Toumaz, we remain focused on strengthening the partnerships with global leaders of their sector such as Infineon Technologies, Texas Instruments and Cardinal Health as well as unlocking future partners in targeted sectors. In addition, the placing will help propel our stated commercial plans; allowing for the further manufacture of our product portfolio as well as providing the option to explore additional forms of working capital and trade finance for the business when required.'
-End- For further information please contact: Guy Spelman Toumaz Holdings Limited Tel: +44 7767 338 967 Rose Herbert/ Charles Cunningham/ Sam Smith FinnCap Tel: 020 7600 1658 Vikki Krause Hansard Group Tel: +44 207 245 1100
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