REG - Inspiration Health - Result of General Meeting and Total Voting Rights

Inspiration HealthcareAnnouncement

22/07/2024 12:45

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RNS Number : 3227X  Inspiration Healthcare Group PLC  22 July 2024

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, NEW ZEALAND,
CANADA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN
WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR IMMEDIATE RELEASE.

 

 

Inspiration Healthcare Group Plc

 ("Inspiration Healthcare" or the "Company")

 

Result of General Meeting and Total Voting Rights

 

On 26 June 2024, Inspiration Healthcare (AIM: IHC), the global medical
technology company pioneering specialist intensive neonatal intensive care
medical devices, announced (the "Launch Announcement") a conditional placing
(the "Placing"), a Director and senior management Subscription (the
"Subscription"), and an associated retail offer (the "Retail Offer").

 

The Company is pleased to announce that at its General Meeting held earlier
today, all the resolutions set out in the circular dated 28 June 2024 were
duly passed (the "Resolutions").

 

Further to this, the Company can now confirm that it will issue, pursuant to
the Placing, the Subscription and the Retail Offer, 21,428,570 New Ordinary
Shares at 14 pence per share, raising approximately £3.0 million in
aggregate. The issue of New Ordinary Shares will be split as follows:

 

·    17,321,430 shares pursuant to the Placing, raising gross proceeds of
approximately £2.4 million;

·    535,712 shares pursuant to the Subscription, raising gross proceeds
of approximately £75,000; and

·    3,571,428 shares pursuant to the Retail Offer, raising gross proceeds
of approximately £0.5 million.

 

As a result of the passing of the Resolutions, the Directors and senior
management of the Company participating in the Capital Raising will hold the
following Ordinary Shares in the capital of the Company on Admission:

 

 Director        Existing beneficial shareholding  New Ordinary Shares subscribed for  Shareholding on completion of the Capital Raising  Shareholding as a percentage of the Enlarged Issued Share Capital
 Roy Davis       -                                 178,571                             178,571                                            0.20%
 Neil Campbell*  4,416,646                         71,428*                             4,488,074                                          5.01%
 Liz Shanahan    35,000                            142,857                             177,857                                            0.20%
 Simon Motley    4,111,628                         107,142                             4,218,770                                          4.71%
 Laura Edwards   -                                 35,714                              35,714                                             0.04%

 

*To be gifted to his children

 

The Company has applied to the London Stock Exchange for the 21,428,570 New
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that the Admission will occur at 8:00 a.m. on 23 July 2024.

 

Following Admission, the Company's issued share capital will comprise
89,663,372 ordinary shares of 10 pence each and that number 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 in their interest in, the share capital of the Company under the FCA's
Disclosure Guidance and Transparency Rules. The Company does not hold any
shares in treasury.

 

Capitalised terms not defined in this announcement have the meanings given to
them in the Launch Announcement.

 

Commenting, Roy Davis, Interim Chief Executive of Inspiration Healthcare,
said: "We're very pleased to have been able to complete this equity raise in
challenging market conditions. The additional funds raised will enable us to
reduce our net debt and will provide us with significant liquidity headroom.
The Directors and Senior Management have participated in the raise,
highlighting both our commitment to and belief in the Company. We would also
like to thank our existing investors for their continued support. We look
forward to a productive second half as we continue to execute our strategy."

 

Change of Name of Nominated Adviser and Broker

The Company's Nominated Adviser and Broker has changed its name to Panmure
Liberum Capital Limited.

 

 For more information contact:
 Inspiration Healthcare Group plc                              Tel: +44 (0)330 175
                                   0000
 Roy Davis, Executive Chairman and Interim CEO
 Alan Olby, Chief Financial Officer

 Panmure Liberum Capital Limited (Nomad and Broker)                        Tel: 020 3100 2000
 Richard Lindley, Will King, Joshua Borlant

 Walbrook PR Ltd                                                           Tel: 020 7933 8700 or

                                                                           inspirationhealthcare@walbrookpr.com
 Anna Dunphy                                                               Mob: 07876 741 001

 Stephanie Cuthbert                                                        Mob: 07796 794 663

 Louis Ashe-Jepson                                                         Mob: 07747 515 393

 

About Inspiration Healthcare Group plc

 

Inspiration Healthcare (AIM: IHC) designs, manufactures and markets pioneering
medical technology. Based in the UK, the Company specialises in neonatal
intensive care medical devices, which are addressing a critical need to help
to save the lives and improve the outcomes of patients, starting with the very
first breaths of life.

 

The Company has a broad portfolio of its own products and complementary
distributed products, for use in neonatal intensive care designed to support
even the most premature babies throughout their hospital stay. Its own branded
products range from highly sophisticated capital equipment such as ventilators
for life support through to single-use disposables.

 

The Company sells its products directly to hospitals and healthcare providers
in the UK and Ireland, where it also distributes a range of advanced medical
technologies for infusion therapy.  In the rest of the world the Company has
an established network of distribution partners around the world giving access
to more than 75 countries.

 

The Company operates in the UK from its world-class Manufacturing and
Technology Centre in Croydon, South London and in the USA from its facility in
Melbourne, Florida.

Further information on Inspiration Healthcare can be found at
www.inspirationhealthcaregroup.com

 

Note:

The information contained within this Announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU Regulation No. 596/2014) (as it forms part of United Kingdom domestic law
by virtue of the European Union (Withdrawal) Act 2018) (the "UK MAR"). Upon
the publication of this Announcement via a Regulatory Information Service,
this inside information is now considered to be in the public domain. If you
have any queries on this, then please contact Alan Olby, Finance Director of
the Company (the person responsible for arranging the release of this
Announcement) on +44 (0)330 175 0000

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