News Column

DIRECTOR DEALINGS: Deltex Medical Non-Executives Buy Placing Shares

June 10, 2014

Arvind Bhunjun



LONDON (Alliance News) - Deltex Medical Group PLC Tuesday said Non-Executive Chairman Nigel Keen and Non-Executive Director Julian Cazalet acquired new shares Monday as part of the company's recent open offer of shares.



Deltex said that as part of the arrangements for the share placing, the two non-executive directors subscribed for approximately GBP200,000 in shares, representing 4.44% of the company's total shares in issue.

Deltex said Monday it raised GBP509,234 before expenses through its open offer, after approximately 49% of the shares available in the offer were taken up.

The oesophageal Doppler monitoring technology maker said it will use the funds to further develop its business both in the UK and its overseas markets, including expanding its sales and clinical education team in the US to support expansion.

The company said 4.63 million shares were taken up in the open offer.

In a statement last month, Deltex Medical said it was looking to raise up to GBP1.04 million in an open offer of up to 9.5 million new shares. It said they would be purchased on the basis of one new ordinary share for every 18 existing ordinary shares at 11 pence per new share.

The details of the director purchases are as follows:

Name of Director

Number of New Ordinary Shares subscribed as part of Placing

 

Holding of shares following issue of New Ordinary Shares

 

% of enlarged issued share capital

Nigel Keen

1,363,636

8,348,799

3.94

Julian Cazalet

454,545

4,534,813

2.14





Shares were trading at 10.90 pence, down 0.9% Tuesday.










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Source: Alliance News


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