Strategic investment via Placing of Shares
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CAMBRIDGE, UK: EDX Medical Group plc, which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, heart disease and infectious diseases, announces that the Company has received a strategic investment of £300,000 from a private investor via the placing of 2,727,272 new ordinary shares of 1p each ("the Placing Shares") in the Company at a price of 11p per share ("the Placing Price").
The investment in the Company at a premium of 22 % on the current market share price will be used to support the expansion of EDX Medical's capabilities and operations.
The investor is a highly experienced healthcare investor based in Saudi Arabia and has been assisted in the Placing by Capital Plus Partners, London.
An application has been made for the Placing Shares to be admitted to trading on the AQSE Growth Market and admission is expected to become effective on October 25, 2024.
Professor Sir Chris Evans, OBE, founder of EDX Medical, commented: "We are delighted that another high net worth, experienced healthcare investor with a track record in successful medical ventures has chosen to support EDX Medical. This investor's extensive network of healthcare contacts in the Gulf is also of considerable importance to the marketing of our new products in that region."
Dr Mike Hudson, Chief Executive Officer of EDX Medical, commented: "This investment is another declaration of support in our strategy of developing and providing class-leading diagnostic solutions that will help health professionals achieve better outcomes for patients."
Total Voting Rights
The above figure of 350, 084,848 Ordinary Shares may be used by shareholders in the Company 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 Financial Conduct Authority's Disclosure and Transparency Rules.
The directors of EDX Medical accept responsibility for the contents of this announcement.
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