EDX Medical Group - Cancellation of warrants

EDX Medical Group PLC

This announcement contains inside information as stipulated under the UK version of the Market Abuse Regulation No 596/2014 which is part of English law by virtue of the European (Withdrawal) Act 2018, as amended.  On publication of this announcement via a regulatory information service, this information is considered to be in the public domain.

01 November 2024

EDX Medical Group plc

AQSE: EDX

("EDX Medical" or the "Company")

Cancellation of Warrants

CAMBRIDGE, UK: EDX Medical Group plc, which develops innovative digital diagnostic products and services supporting personalised treatments for cancer, heart disease and infectious diseases, announces that warrant holders who were issued with a total of 5,370,000 warrants in 2021 have each agreed to waive and cancel their rights to subscribe for Ordinary Shares in EDX Medical in accordance with the terms of the Warrant Instruments.

The warrants were issued at an exercise price of 5p per warrant to the five founders of TECC Capital plc and its Corporate Adviser at that time. TECC Capital was subsequently subject to a Reverse Takeover by EDX Medical.

Jason Holt, chairman of EDX Medical, said: "The cancellation now of warrants issued at 5p prior to the creation of the EDX Medical Group will enhance stability and reduce future potential dilution for existing shareholders.

"During the course of this year, the Company has raised significant capital which has enabled us to progress at pace our development of class-leading diagnostic products and also take steps such as the cancellation of these legacy warrants.

The Company has a remaining 12, 500, 000 warrants in place with an exercise price of 10p and 12,500,000 with an exercise price of 20p.

The Company has 350,084,848 Ordinary Shares in issue, each share carrying the right to one vote.

​The directors of EDX Medical accept responsibility for the contents of this announcement.

Contacts:

Notes for Editors:

About EDX Medical Group 

EDX Medical Group plc is listed on the Apex Segment of the AQSE Growth Market (TIDM: EDX).

EDX Medical was founded by Professor Sir Christopher Evans, OBE, a medical and life sciences entrepreneur with more than 30 years of experience, together with CEO, Dr Mike Hudson.

By translating clinical insights into pragmatic solutions combining advanced biological and digital technologies, EDX Medical seeks to cost effectively improve the detection and characterisation of disease in order to personalise treatment in a timely fashion. Early disease detection and biologically-based personal treatment optimisation is considered to be the most impactful way of reducing deaths and lowering the cost of healthcare globally.

 EDX Medical Group provides doctors, hospitals and insurers/payers with access to a portfolio of the best clinical diagnostics products and services. The Company operates its own facilities in Cambridge and Oxford, UK, and has strategic product and technology partnerships with organisations such as Thermo Fisher EMEA Ltd, a world leader in supplying life sciences solutions and services.

EDX Medical conducts product development, validation and distribution to ISO 13485 and provides PCR services accredited to ISO 15189 by the United Kingdom Accreditation Service (UKAS).