Lombard Medical Technologies PLC: Fundraising of £7.4 million
London, UK, 15 June 2007
Lombard Medical Technologies PLC (AIM: LMT), the specialist medical device company, is pleased to announce a fundraising by Nomura Code Securities Limited and Seven Hills
Partners LLC of approximately £7.4 million (gross). Lombard is also announcing its preliminary results today (see separate announcement).
Highlights:
- Fundraising by way of a Subscription and a Placing of new Ordinary Shares to raise gross proceeds of approximately £7.4 million at 25p per share
- Funds to be used to progress the clinical trial of the Aorfix™ AAA stent graft in the United States, scale up manufacturing in order to enable the
Company to meet the forecast demand for Aorfix™ in Europe and additional product development (principally Aorfix™ and EndoRefix™)
- A Warrant to subscribe for one ordinary share will be issued to subscribers and placees on the basis of six Warrants for every twenty new shares
Alistair Taylor, Lombard’s Executive Chairman, said:
“I am delighted by the success of this fundraising, which will allow the Company to achieve significant milestones in the clinical development of our Aorfix™ AAA stent graft in the United States and to scale up manufacturing of Aorfix™ to enable the Company to meet the forecast growing demand for our stent graft in Europe and the rest of the world. I would like to take this opportunity to welcome all new investors to the Company, which is now entering the most exciting period in its development.”
Enquiries:
| Lombard Medical Technologies PLC | +44 (0) 1235 750 800 |
| Alistair Taylor, Executive Chairman | |
| Brian Howlett, Chief Executive Officer | |
| Tim Hall, Finance Director | |
| Financial Dynamics | +44 (0) 20 7831 3113 |
| David Yates / John Gilbert | |
| Nomura Code Securities Limited | +44 (0) 20 7776 1200 |
| Richard Potts | |
| Seven Hills Partners LLC | +1 415 869 6234 |
| Kathryn E Coffey | |
