Feedback PLC Posting of Circular and Notice of General Meeting (9022I)
13 Agosto 2019 - 8:45AM
UK Regulatory
TIDMFDBK
RNS Number : 9022I
Feedback PLC
13 August 2019
Feedback plc
Posting of Circular and Notice of General Meeting
Cambridge, 13 August 2019: Further to its announcement on 12
August 2019, Feedback plc (AIM: FDBK, "Feedback" or the "Company"),
the specialist medical imaging technology company, announces that
it will hold a general meeting of the Company at 1.00 p.m. on 29
August 2019, at the offices of Peterhouse Capital Limited at 80
Cheapside, London EC2V 6EE.
The Company has today posted to its shareholders a circular
containing a notice convening the General Meeting (the "Circular"),
the purpose of which is to explain to Shareholders the background
to and reasons for the Placing and the Subscription and to seek
their approval of the resolutions to be proposed at the General
Meeting. The Circular will be available on the Company's website,
www.fbkmed.com, shortly.
Further re. Proposed Grant of Options
As previously announced, the Board intends to grant Tom Oakley,
CEO of Feedback, options over 13,498,748 new Ordinary Shares ("CEO
Options"), representing 2.5 per cent. of the Company's issued share
capital as enlarged by the Placing and Subscription. The CEO
Options will be exercisable at the Issue Price of 1.2 pence and
will vest over three years from the date of the grant. The grant of
the CEO Options will be subject to shareholder approval at the
General Meeting and, if approved, will be granted to the extent
possible pursuant to the EMI Option Scheme and any balance will be
granted pursuant to the Non Tax-Advantaged Option Scheme.
Should the resolution regarding the grant of the CEO Options be
approved by shareholders at the General Meeting, Tom Oakley will
hold options over 22,820,829 Ordinary Shares, equivalent to 4.23
per cent. of the Company's issued share capital, as enlarged by the
Placing and the Subscription.
Clarification re. the amendment to the Company's Option
Schemes
Further to the Company's announcement on 12 August 2019, the
Board wishes to clarify information provided regarding the
Company's existing option schemes. The Company stated in
yesterday's announcement that its EMI Option Scheme contains a
limit on the number of options that can be granted under the EMI
Option Scheme, in a 10-year period of 10 per cent. of the issued
share capital at the time of grant, including options that have
since lapsed or been exercised.
It has subsequently come to the Company's attention that the 10
per cent. limit on the number of options that can be granted in a
10-year period relates to the aggregate number of options granted
under the EMI Option Scheme and the Non Tax-Advantaged Option
Scheme (the "Company's Option Schemes") in a 10-year period,
excluding options that were granted in the period and have
subsequently lapsed.
On this basis, including the proposed grant of options to Tom
Oakley mentioned above, a total of 8.91 per cent. of the Company's
enlarged issued share capital will have been granted under option
under the Company's Option Schemes, in the last 10-year period
(excluding options that were granted in such period and have
subsequently lapsed). Accordingly, subject to shareholder approval
at the General Meeting, the Board intends to amend the Company's
Option Schemes to increase the number of options that can be
granted during the 10-year period from 10 per cent. to 12.5 per
cent of the Company's issued share capital at the time of the
grant.
Capitalised 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 of 12 August 2019.
Enquiries:
Feedback plc
Tom Oakley, CEO +44 (0)1954 718072
Lindsay Melvin, CFO IR@fbk.com
Allenby Capital Limited (Nominated
Adviser)
David Worlidge / Asha Chotai +44 (0)20 3328 5656
Peterhouse Capital Limited (Joint Broker)
Lucy Williams / Duncan Vasey +44 (0)20 7469 0936
Stanford Capital Partners Limited (Joint
Broker)
Patrick Claridge / John Howes +44 20 3815 8880
Instinctif Partners +44 (0)20 7457 2020
Rozi Morris/ Deborah Bell/ Phillip feedbackplc@instinctif.com
Marriage
About Feedback plc
Feedback plc (AIM: FDBK) is a specialist medical imaging
technology company providing innovative software and systems,
through its fully-owned trading subsidiary, Feedback Medical
Limited. Its products advance the work of radiologists, clinicians
and medical researchers by improving workflows and giving unique
insights into diseases, particularly cancer. Feedback Medical works
with customers globally from headquarters in the internationally
renowned scientific hub of Cambridge, UK. Its proprietary
technologies are TexRAD(R) , the quantitative texture analysis tool
and Cadran, a picture archiving communication system (PACS). For
more information, see www.fbkmed.com/
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END
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