REG - AIM - Schedule One - MedPal AI plc

AppleAnnouncement

08/08/2025 09:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250808:nRSH5780Ua&default-theme=true

RNS Number : 5780U  AIM  08 August 2025

 

 

 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
 WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 COMPANY NAME:

 MedPal AI plc ("MedPal" or the "Company")

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES):
 c/o Hill Dickinson LLP

 The Broadgate Tower

 20 Primrose Street

 London EC2A 2EW

 COUNTRY OF INCORPORATION:
 England and Wales

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
 www.medpalplc.com (http://www.medpalplc.com)

 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
 INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS
 SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
 STATED:
 MedPal is a UK-based digital health and artificial intelligence ("AI") company
 focused on wellness management. The Company's core product is a non-clinical,
 digital health app that aggregates and monitors users' health metrics and
 provides wellness guidance. MedPal does not provide medical advice but
 signposts users to appropriate care when needed.

 The MedPal app is able to connect to over 100 fitness apps and wearables on
 Apple iOS and Google Android operating systems, aggregating an individual's
 health data into one unified profile. Medpal uses AI to provide wellbeing
 monitoring, lifestyle advice and bio-hacks based on real-time data.

 MedPal has recently entered into an agreement with Epassi UK Limited
 ("Epassi"). Epassi facilitates the provision of employee benefits to over 11
 million people through companies such as Siemens, Volvo, Bosch and RSK Group.
 These benefits focus on wellbeing via personal fitness (gym membership),
 physical health (private healthcare) and active lifestyle (discounts on
 digital fitness, travel, leisure and health food brands). Under the agreement
 with Epassi, all of Epassi's clients will be offered the app free for 12
 months and will have the option to subscribe for premium services offered by
 MedPal.

 The addressable market for MedPal's services is vast and growing. Over 1.3
 billion people globally are expected to use digital health tools in 2025,
 encompassing wearables or health apps and online health services. Over half of
 U.S adults (approximately 130 million adults) own a wearable health device
 such as a smartwatch, fitness tracker or smart ring. This proliferation of
 personal health devices reflects a broader emphasis on wellbeing monitoring
 and self-tracking. It also leads to a large amount of health data being
 generated outside clinics, creating demand for wellness platforms such as
 MedPal that can support the user's overall wellbeing and signpost users to
 appropriate care when needed. MedPal does not replace professional medical
 advice, diagnosis or treatment.

 MedPal's commercial strategy leverages multiple channels to drive user growth
 and revenue, while maintaining its role as a non-clinical wellness
 facilitator. Key elements of the strategy include:

 ·    Direct-to-Consumer (D2C)

 ·    Partnership with Epassi

 ·    B2B Licensing and Enterprise Solutions

 ·    Insurance Channel Bundling

 Across all channels, MedPal will adhere to its non-clinical positioning,
 functioning as a digital health companion that monitors fitness and wellbeing,
 but signposts users to specialist care when appropriate rather than diagnosing
 or treating directly. MedPal provides general advice based on the user's
 wellness data which does not replace professional medical advice, diagnosis or
 treatment. This strategy ensures clarity of MedPal's role. By combining direct
 consumer uptake with B2B and insurer partnerships, MedPal aims to accelerate
 its user growth and revenue while maintaining a scalable, asset-light model.

 The agreement with Epassi is in relation to users in the UK, which will be
 MedPal's initial focus, but the Company will look to expand quickly into other
 territories including the US.

 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
 OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
 and issue price to which it seeks admission and the number and type to be held
 as treasury shares):
 Number of ordinary shares on Admission: 403,083,335 ordinary shares of
 £0.0002 each in the capital of the Company ("Ordinary Shares")*

 Issue Price per Ordinary Share: 4p

 Each Ordinary Share carries one vote and the right to dividends.

 There are no restrictions as to the transfer of the Ordinary Shares.

 No Ordinary Shares will be held as treasury shares on Admission.

 *based on an anticipated fundraise of £1,600,000

 CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
 MARKET CAPITALISATION ON ADMISSION:
 Approximately £1,600,000

 Anticipated market capitalisation on Admission: approximately £16,000,000

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
 Approximately 85%

 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
 (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
 N/A

 THE COMPANY HAS APPLIED FOR THE VOLUNTARY CARBON MARKET DESIGNATION (Y/N)
 N

 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
 first name by which each is known or including any other name by which each is
 known):
 Current Directors:

 Jason Kingsley Drummond - Chief Executive Officer

 Justin Piers Drummond - Executive Director

 Proposed Directors to be appointed on Admission:

 Stig Karl-Magnus Carlsson (Karlsson) - Non-executive Chairman

 Adam Monaco - Finance Director

 Kevin Sean O'Neill - Non-executive Director

 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
 OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first
 name by which each is known or including any other name by which each is
 known):

Name             % of the issued share capital before Admission  % of the issued share capital on Admission*
 Jason Drummond   46.82%                                          42.17%
 Justin Drummond  10.33%                                          9.30%
 Marie Juste      3.44%                                           3.10%

*based on a fundraise of £1,600,000

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:
 Phoenix Ventures Limited

 (i)         ANTICIPATED ACCOUNTING REFERENCE DATE

 (ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
 ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
 interim financial information)

 (iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
 PURSUANT TO AIM RULES 18 AND 19:
 (i) 31 August

 (ii) Unaudited interim results to 28 February 2025

 (iii) 28 February 2026, 28 May 2026, 28 February 2027

 EXPECTED ADMISSION DATE:
 Late August 2025

 NAME AND ADDRESS OF NOMINATED ADVISER:
 Cairn Financial Advisers LLP

 9th Floor, 107 Cheapside,

 London, EC2V 6DN

 United Kingdom

 NAME AND ADDRESS OF BROKER:
 Clear Capital Markets Limited

 6th Floor, Wilson's Corner

 23-25 Wilson Street

 London EC2M 2DD

 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
 INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
 STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
 ADMISSION OF ITS SECURITIES:
 A copy of the Admission Document will contain full details about the applicant
 and the admission of its securities, and will be available from the Company's
 website at: www.medpalplc.com from Admission.

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
 QCA Corporate Governance Code

 DATE OF NOTIFICATION:
 8 August 2025

 NEW/ UPDATE:

 NEW

*based on a fundraise of £1,600,000

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:

Phoenix Ventures Limited

 

 

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)

(iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:

(i) 31 August

 

(ii) Unaudited interim results to 28 February 2025

 

(iii) 28 February 2026, 28 May 2026, 28 February 2027

 

 

EXPECTED ADMISSION DATE:

Late August 2025

 

NAME AND ADDRESS OF NOMINATED ADVISER:

Cairn Financial Advisers LLP

9th Floor, 107 Cheapside,

London, EC2V 6DN

United Kingdom

 

 

NAME AND ADDRESS OF BROKER:

Clear Capital Markets Limited

6th Floor, Wilson's Corner

23-25 Wilson Street

London EC2M 2DD

 

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:

A copy of the Admission Document will contain full details about the applicant
and the admission of its securities, and will be available from the Company's
website at: www.medpalplc.com from Admission.

 

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code

 

DATE OF NOTIFICATION:

8 August 2025

 

NEW/ UPDATE:

 

NEW

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  PAAUWUNRVNUWRRR