10 August 2017

Payment of deferred consideration

Company, RNS, RNS Reach

On 3 August 2016, MedaPhor Group plc (AIM: MED), the global provider of advanced ultrasound skills training simulators for medical professionals, announced the acquisition of Inventive Medical Limited (“IML”). Further to the terms of the acquisition, 2,325,582 new ordinary shares are being issued to The Incorporated Trustees of University College London Hospitals Charities (the “Retention Shares”). The issue of the Retention Shares was contingent on no seller warranty or indemnity breaches (as specified in the IML Sale and Purchase Agreement) arising during the 12 month period following the acquisition. The directors can confirm no seller warranty or indemnity breaches have occurred. 

 Application has been made for admission of the Retention Shares to be admitted to trading on the AIM market of the London Stock Exchange (“Admission”) and it is expected that Admission will become effective on 16 August 2017.  Following Admission the total number of voting rights of the Company’s Ordinary Shares will be 34,224,158.

 

Enquiries:

MedaPhor Group plc

www.medaphor.com

Stuart Gall, CEO

Tel: +44 (0)29 2075 6534

 

Cenkos Securities

Tel: +44 (0)20 7397 8900

Bobbie Hilliam (Nominated Adviser)

 

Walbrook PR

Tel: +44 (0)20 7933 8780 or medaphor@walbrookpr.com

Paul McManus / Anna Dunphy

Mob: +44 (0)7980 541 893 / Mob: +44 (0)7876 741 001