REG - Feedback PLC - Result of AGM & Commercial Update

FeedbackAnnouncement

28/11/2024 14:45

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RNS Number : 0751O  Feedback PLC  28 November 2024

Feedback Plc

 

Result of Annual General Meeting and Commercial Update

 

Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the clinical
infrastructure specialist, announces that at the Annual General Meeting
("AGM") held today all resolutions, including resolutions 1 to 4 pertaining to
the Company's Fundraising as announced on 4 November 2024, were duly passed,
details of the number of votes cast are detailed below.

 

Share Capital Reorganisation

Following the approval of the Fundraising Resolutions (resolutions 1 - 4
below), each of the Company's 13,334,659 Existing Ordinary Shares of 50 pence
each will be subdivided into one New Ordinary Share of one penny and one
Deferred Share of 49 pence in accordance with Resolution 1 and 2. The New
Ordinary Shares arising on implementation of the subdivision will have the
same rights as the Existing Ordinary Shares, including voting and

other rights.

 

Commercial Update

Further to the Company's announcement on 4 November 2024, the Company is
pleased to confirm that it has now entered into a memorandum of understanding
with its partner and an NHS Trust to implement a pilot for a novel
'Neighbourhood Diagnostics Solution' that combines Bleepa with its partner's
technology to streamline NHS diagnostic and pathway referrals between primary
care, CDCs and secondary care. Following integration of Bleepa with its
partner's technology interface, the pilot is expected to go live in a hospital
trust setting in Q1 2025. The Company and its partner are actively building
interest in the solution and look forward to providing further updates in due
course.

 

The Pilot will act as a reference site for national policy and provide a
platform from which to launch focused engagement with the central NHS and
government with the intention of positioning a business case for wider rollout
aligned to the Spring Budget. Together with its partners Feedback aims to
demonstrate a new technical infrastructure and operating model for the NHS,
underpinning the Secretary of State's vision for a Neighbourhood Health
Service.

 

Additionally the Company is in dialogue with a number of ICBs regarding use of
Bleepa as a Diagnostic Enhanced Advice and Guidance platform under the
Elective Recovery Fund.

 

Total Voting Rights

Further to the announcement on 4 November 2024, Admission of the New Ordinary
Shares is expected to take place at 8:00 a.m. on 29 November 2024.

 

On Admission, the issued share capital of the Company will consist of
43,814,779 Ordinary Shares with one voting right each. The Company does not
hold any ordinary shares in treasury. Therefore, the total number of ordinary
shares and voting rights in the Company will be 43,814,779.  With effect from
Admission, this figure 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 FCA's Disclosure Guidance and
Transparency Rules.

 

Results of AGM

The number of votes cast for and against each of the resolutions proposed, and
the number of votes withheld were as follows:

 

 Resolution                                                                     Votes for*  % of votes cast**  Votes against  % of votes cast***  Votes withheld***  Total votes cast****

 Ordinary Resolution
 1. To authorise the Share Capital Reorganisation of the Company.               6,817,892   96.70%             233,055        3.31%               12,535             7,050,947
 Special Resolution
 2. To amend the articles of association of the Company in connection with the  6,817,892   96.70%             233,055        3.31%               12,535             7,050,947
 Share Capital Reorganisation.
 Further Ordinary Resolution
 3. To authorise the directors to allot equity securities generally in          6,817,892   96.70%             233,055        3.31%               12,535             7,050,947
 connection with the fundraising.
 Further Special Resolution
 4. To authorise the directors to dis-apply pre-emption rights on a limited     6,771,226   96.03%             279,721        3.97%               12,535             7,050,947
 basis in connection with the fundraising.
 Further Ordinary Resolutions
 5. To receive the Annual Report and Accounts for the year ended 31 May 2024,   7,050,844   100.00%            103            0.00%               12,535             7,050,947
 together with the Directors' reports and auditor's report.
 6. To receive the Directors' Remuneration Report of the Company for the year   6,231,723   91.32%             592,440        8.68%               239,319            6,824,163
 ended 31 May 2024.
 7. To re-elect Professor Rory Shaw as a director of the Company.               6,771,226   99.28%             49,285         0.72%               242,971            6,820,511
 8. To re-elect Dr. Tom Oakley as a director of the Company.                    7,044,992   99.97%             2,303          0.03%               16,187             7,047,295
 9. To re-elect Anesh Patel as a director of the Company.                       7,017,492   99.58%             29,803         0.42%               16,187             7,047,295
 10. To re-elect Adam Denning as a director of the Company.                     6,046,532   91.08%             592,224        8.92%               592,224            6,638,756
 11. To re-elect Annemijn Eschauzier as a director of the Company.              6,409,619   99.96%             2,353          0.04%               651,510            6,411,972
 12. To re-elect Philipp Prince as a director of the Company.                   6,046,532   91.08%             592,224        8.92%               424,726            6,638,756
 13. To re-appoint Price Bailey LLP as auditor of the Company.                  7,047,192   100.00%            103            0.00%               16,187             7,047,295
 14. To authorise the directors to determine the fees payable to the auditor.   7,050,894   100.00%            53             0.00%               12,535             7,050,947
 15. To authorise the directors to allot relevant securities, in addition to    6,821,544   96.75%             229,403        3.25%               12,535             7,050,947
 the authority under resolution 3.
 Further Special Resolutions
 16. To dis-apply pre-emption rights generally, in addition to the authority    6,747,378   95.70%             303,569        4.30%               12,535             7,050,947
 under resolution 4.
 17. To dis-apply pre-emption rights pursuant to allotments to finance          6,743,726   95.64%             307,221        4.36%               12,535             7,050,947
 acquisitions and capital investments, in addition to the authority under
 resolution 4.

 

* "Votes For" include votes giving the Chairman discretion.

** Percentages exclude "Votes Withheld".

*** "Votes Withheld" are not votes in law and do not count in the number of
votes counted for or against a resolution.

**** "Total votes cast" do not include withheld votes.

 

 

Terms used but not defined in this announcement shall have the meanings given
to such terms in the section headed 'Definitions' in the Company's
announcement released at 7:01 a.m. on 4 November 2024.

 

--Ends--

 

Enquiries:

 

 Feedback plc                                 +44 (0) 20 3997 7634

 Tom Oakley, CEO                              IR@fbk.com

 Anesh Patel, CFO

 Panmure Liberum Limited (NOMAD and Broker)   +44 (0)20 7886 2500

 Emma Earl/ Mark Rogers (Corporate Finance)

 Rupert Dearden (Corporate Broking)

 Walbrook PR Ltd;                             Tel: 020 7933 8780 or feedbackplc@walbrookpr.com
 Nick Rome/Joe Walker                         07748 325 236 or 07407 020 470

 

 

About Feedback

 

Feedback plc helps clinical teams to make better decisions faster for
patients. We design products that enhance clinician access to patient data and
to their colleagues. Our unique approach centres around individual patient
episodes, into which we pull relevant clinical data from hospital systems and
around which we build remote clinical teams for collaboration. As a result, we
produce a digital infrastructure that makes patient data available to
clinicians in multiple settings, in a format that enables them to meaningfully
interact with it, providing flexibility to clinicians and free movement of
patients between provider settings - clinicians can practice from anywhere and
patients can attend any care provider for treatment, with greater connectivity
across organisations.

 

Our products Bleepa® and CareLocker® work together to deliver unparalleled
value to our customers. Bleepa® is our application layer and sits on top of
CareLocker® as our data layer. Bleepa® is a clinician facing platform that
displays clinical results from a patient's CareLocker® at a certified and
regulated quality, that is suitable for clinical use and enables dialogue on a
patient-by-patient basis with colleagues through a secure, auditable chat
interface that links back to the patient medical record. The CareLocker® data
storage model is built around the patient. Our vision is one where relevant
clinical data is always available to the patient as well as to any care
setting that they may attend - a federated data architecture with the patient
as the tenant.

 

The Company has a number of growth opportunities domestically and
internationally across a range of markets including the NHS and private
healthcare providers and its highly scalable Software as a Service
("SaaS")-based model is expected to provide increasing levels of revenue
visibility as the Company grows its customer base.

 

 

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