REG - Deltex Med Grp PLC - Result of General Meeting

Deltex MedicalAnnouncement

12/02/2025 13:30

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RNS Number : 8921W  Deltex Medical Group PLC  12 February 2025

12 February 2025

 

Deltex Medical Group plc

("Deltex Medical" or the "Company")

 

Result of General Meeting

 

Deltex Medical Group plc (AIM: DEMG) announces that at the general meeting of
the Company held earlier today, the Cancellation Resolution put to the
Company's shareholders was duly passed. As a result, the Company's Ordinary
Shares will be cancelled from trading on AIM at 7.00 a.m. on 21 February 2025.
The proxy voting results are as follows:

 

                          Total votes cast  Votes                             Votes                          Withheld*
                                            FOR                               AGAINST
                          Votes             Votes          % of shares voted  Votes       % of shares voted  Votes
 Cancellation Resolution  1,278,213,356     1,239,890,686  97.00%             38,322,670  3.00%              65,953

 

*A "vote withheld" is not a vote in law and will not be counted in the
calculation of the proportion of the votes for and against a resolution.

 

Shareholders are reminded that the last day of dealings in the Company's
Ordinary Shares on AIM will be 20 February 2025.

 

Dealing and settlement arrangements post the Cancellation

 

With effect from Cancellation, the Company has arranged a Matched Bargain
Facility and has appointed JP Jenkins (a trading name of InfinitX Limited and
an appointed representative of Prosper Capital LLP, which is authorised and
regulated by the FCA) to facilitate Shareholders buying and selling of
Ordinary Shares on a matched bargain basis for a period of no less than 12
months following Cancellation. Full details will be made available to
Shareholders on the Company's website at www.deltexmedical.com
(http://www.deltexmedical.com) and directly by letter or e-mail (where
appropriate).

 

There can be no guarantee as to the level of the liquidity or marketability of
the Ordinary Shares under the Matched Bargain Facility, or the level of
difficulty for Shareholders seeking to realise their investment under the
Matched Bargain Facility.

 

Further details of the Cancellation, including the full text of the
Cancellation Resolution, can be found in the Circular which was published and
sent to shareholders on 21 January 2025 and is available on the Company's
website at www.deltexmedical.com. (http://www.deltexmedical.com)

 

Capitalised terms used in this announcement shall have the meanings given to
such terms in the announcement issued by the Company dated 21 January 2025
unless otherwise defined herein.

 

For further information, please contact:

 

 Deltex Medical Group plc                                        01243 774 837
 Nigel Keen, Chairman                                            investorinfo@Deltexmedical.com (mailto:investorinfo@Fitbitmedical.com)
 Andy Mears, Chief Executive
 Natalie Wettler, Group Finance Director

 & Chief Operating Officer

 Allenby Capital Limited - Nominated Adviser & Broker            020 3328 5656
 Jeremy Porter / Vivek Bhardwaj (Corporate Finance)              info@allenbycapital.com (mailto:info@allenbycapital.com)
 Tony Quirke / Stefano Aquilino (Sales & Corporate Broking)

 

 

Notes for Editors

 

Deltex Medical's technology

Deltex Medical's TrueVue System uses proprietary haemodynamic monitoring
technology to assist clinicians to improve outcomes for patients as well as
increase throughput and capacity for hospitals.

 

Deltex Medical has invested over the long term to build a unique body of
peer-reviewed, published evidence from a substantial number of trials carried
out around the world. These studies demonstrate statistically significant
improvements in clinical outcomes providing benefits both to patients and to
the hospital systems by increasing patient throughput and expanding hospital
capacity.

 

The Group's flagship, world-leading, ultrasound-based oesophageal Doppler
monitoring ("ODM") is supported by 24 randomised control trials conducted on
anaesthetised patients. As a result, the primary application for ODM is
focussed on guiding therapy for patients undergoing elective surgery, although
sedated patients in intensive care are still an important part of our
business. The Group's new, next generation monitor makes the use of the ODM
technology more intuitive and provides augmented data on the status of each
patient.

 

Deltex Medical's engineers and scientists carried out successful research in
conjunction with the UK's National Physical Laboratory ("NPL"), which has
enabled the Group's 'gold standard' ODM technology to be extended and
developed so that it can be used completely non-invasively. This will
significantly expand the application of Deltex Medical's technology to
non-sedated patients. This new technological enhancement, which will be
released on the new next generation monitor, will substantially increase the
addressable market for the Group's haemodynamic monitoring technologies and is
complementary to the long-established ODM evidence base.

 

Deltex Medical's new non-invasive technology has potential applications for
use in a number of healthcare settings, including:

§ Accident & Emergency for the rapid triage of patients, including the
detection and diagnosis of sepsis;

§ in general wards to help facilitate a real-time, data-driven treatment
regime for patients whose condition might deteriorate rapidly; and

§ in critical care units to allow regular monitoring of patients post-surgery
who are no longer sedated or intubated.

 

One of the key opportunities for the Group is positioning this new,
non-invasive technology for use throughout the hospital. Deltex Medical's
haemodynamic monitoring technologies provide clinicians with beat-to-beat
real-time information on a patient's circulating blood volume and heart
function. This information is critical to enable clinicians to optimise both
fluid and drug delivery to patients.

 

Deltex Medical's business model is to drive the recurring revenues associated
with the sale of single-use disposable ODM probes which are used in the
TrueVue System and to complement these revenues with a new incremental revenue
stream to be derived from the Group's new non-invasive technology.

 

Both the existing single-use ODM probe and the new, non-invasive device will
connect to the same, new TrueVue monitor which was released onto the market in
November 2023. Monitors are sold or, due to hospitals' often protracted
procurement times for capital items, may be loaned in order to encourage
faster adoption of the Group's technology.

 

Deltex Medical's customers

 

The principal users of Deltex Medical's products are currently anaesthetists
working in a hospital's operating theatre and intensivists working in ICUs.
This customer profile will change as the Group's new non-invasive technology
is adopted by the market. In the UK the Group sells directly to the NHS. In
the USA the Group sells directly to a range of hospital systems. The Group
also sells through distributors in more than 40 countries in the European
Union, Asia and the Americas.

 

Deltex Medical's objective

 

To see the adoption of Deltex Medical's new TrueVue monitor, comprising both
minimally invasive and non-invasive technologies, as the standard of care in
haemodynamic monitoring for all patients from new-born to adult, awake or
anaesthetised, across all hospital settings globally.

 

For further information please go to www.deltexmedical.com
(http://www.deltexmedical.com/)

 

 

 

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