EMS's sister co in the uk, starting to look the goods. Placement seems to have gone very well
Company International Medical Devices PLC
TIDM INT
Headline Additional Listing
Released 07:00 20-Apr-06
Number 7045B
”” Successful completion of acquisition of Response Medical Equipment Ltd for £6.3 million (including £1 million earn-out)
”” £795,000 of new equity raised via additional private placing and from warrant holders
”” Total equity raised from recent placings for the purpose of the Response Medical Equipment Ltd acquisition, and working capital, amounting to £2.8 million
”” Acquisition transforms IMD Plc into a £8.5 million turnover business with historic pro-forma consolidated profits before tax of £800,000
Further to the announcement made on 5 April 2006, International Medical Devices Plc is pleased to announce that it has completed the acquisition of Response Medical Equipment Ltd, the distributor of medical devices and medical consumables.
The Company is also pleased to announce that it raised a further £795,000 of new equity through the issue of 8,400,000 new ordinary shares at 5p per share, pursuant to an further private placing and the issue of 10,000,000 new ordinary shares at 3.75p per share, pursuant to the exercise of warrants.
The Company has also issued 470,000 new ordinary shares at 5p per share in settlement of professional advisors’ fees.
Application has been made for 18,870,000 new ordinary shares to be admitted to trading on AIM and it is expected that admission will take place on 24 April 2006.
Contact:
Alan Frame, Westport Communications Ltd 020 7405 7777 07850 944187
Chris Thomas, International Medical Devices Plc 020 7659 5216
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