Electrical Geodesics, Inc Result of Special Meeting (3120L)
18 Julio 2017 - 1:00AM
UK Regulatory
TIDMEGI
RNS Number : 3120L
Electrical Geodesics, Inc
18 July 2017
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
18 JULY 2017
RECOMMENDED ACQUISITION
of
Electrical Geodesics, Inc. (the "Company")
by a wholly owned subsidiary of Philips Holding USA Inc.
to be effected by means of a merger under the laws of the State
of Delaware (the
"Acquisition")
Result of Special Meeting
EUGENE, OREGON, USA, 18 July 2017 - Electrical Geodesics, Inc.
("EGI" or the "Company"), a leading neurodiagnostic medical
technology company, announces that further to the publication of
the Proxy Statement by Electrical Geodesics Inc. on 26 June 2017
(the "Proxy Statement"), the following resolutions were passed at
the Company's Special Meeting held at 9:00 AM Pacific Time on 17
July 2017. The resolutions were duly passed.
For information, the votes cast were as follows:
Resolution For % Voting Against Total Votes Votes Withheld
Rights Cast (excluding
Votes withheld)
------------------ ----------- --------- -------- ----------------- ---------------
To approve
and adopt
the Acquisition
and the
Merger
Agreement 26,219,345 95.25% 0 26,219,345 0
------------------ ----------- --------- -------- ----------------- ---------------
To approve
the delisting
of the
Company
Common
Stock from
AIM prior
to the
closing
of the
Acquisition 26,219,345 95.25% 0 26,219,345 0
------------------ ----------- --------- -------- ----------------- ---------------
The proxy figures for the resolutions will also be displayed on
the Company's website at https://www.egi.com.
Pursuant to the timetable set out in the Proxy Statement the
Acquisition is expected to complete on 20 July 2017, subject to
satisfaction or waiver of other conditions to closing as provided
for in the Merger Agreement and as disclosed in the Proxy
Statement.
Cancellation of admission of the Common Stock to trading on AIM
will be effective on 21 July 2017 and the payment of the
Acquisition Price to Stockholders will commence on the same day for
all stockholders that have submitted their Form of Declarations in
accordance with the instructions set out in the Proxy Statement.
The Form of Declarations is available on the Company's website at
www.egi.com.
To the extent that Stockholders have yet to complete and return
the Form of Declarations in accordance with the instructions set
out in the Proxy Statement under the heading "Action to be Taken",
they are encouraged to do so. Receipt of the completed Form of
Declarations is a condition to payment of the Acquisition
Price.
Unless otherwise provided, capitalised terms used but not
otherwise defined in this announcement shall have the meanings set
out in the Proxy Statement.
For more information contact:
EGI
Ann Bunnenberg +1 541 687 7962
Peel Hunt LLP (NOMAD
and Broker)
James Steel, Oliver +44 (0) 20 7418
Jackson 8900
Electrical Geodesics, Inc. in Summary
Founded in 1992, EGI designs, develops and commercialises a
range of non-invasive neurodiagnostic and neuromodulation products
used to monitor, interpret and modulate brain activity, based on
its proprietary dense array electroencephalography ("dEEG")
platform technology. The Company's technology uses up to 256
sensors, providing much higher resolution brain activity data
compared to conventional 8 or 16 channel EEG and is used in
medical, clinical and research settings in a diverse range of
applications including important areas such as the diagnosis and
monitoring of epilepsy, neurosurgical planning, sleep assessment,
and many others.
EGI's dEEG systems, available in the GES 300 and now the GES 400
lines, capitalise on the Company's unique Hydrocel Geodesic Sensor
Net which allows faster, easier, and more convenient placement of
many EEG sensors in an even distribution over the entire scalp,
providing more accurate and precise diagnosis and measurement.
EGI's technology is now widely used in neuroscience research
laboratories and is becoming more commonly used in clinics, care
centers, and hospitals around the world. Data is measured and
visualised using EGI's proprietary amplifier technology and
software, providing a complete, advanced, high-resolution EEG
platform. The Company's products are compatible with multiple
diagnostic and imaging technologies, including magnetic resonance
(MR) imaging, functional MRI (fMRI), and magneto-encephalography
(MEG).
See our website www.egi.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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