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ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES (“AIM RULES”)
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COMPANY NAME:
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Induction Healthcare Group PLC (“Induction” or the “Company” , and together with its subsidiaries the “Group”)
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :
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Wework c/o Induction Healthcare
12 Hammersmith Grove
London
United Kingdom
W6 7AP
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COUNTRY OF INCORPORATION:
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Incorporated and Registered in England and Wales
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
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https://inductionhealthcare.com/
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COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
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Induction Healthcare Group PLC is a healthcare technology company focused on streamlining the delivery of care by Healthcare Professionals. The Group’s technology helps Healthcare Professionals to save time and deliver care more effectively and to identify ways to allocate resources more efficiently.
The Group is initially targeting improving the way Healthcare Professionals communicate with each other, through its mobile application module (“app”), Induction Switch (“Switch”). Switch is an app that provides a directory (allowing Healthcare Professionals to easily find extension numbers), messaging and an administration portal (to share and view hospital guidelines), all in a secure and regulatory compliant setting.
As at 28 February 2019, Switch had over 76,200 registered users, primarily in the UK, including over 50,500 doctors, GPs and consultants. The registered user base grew by more than 42% over the six months to 28 February 20191.
Induction’s main country of operation is the United Kingdom.
1Note: all statistics regarding performance of the Company sourced from the Company’s internal systems.
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DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):
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Number of ordinary shares of £0.005 each (“Ordinary Shares”) for which Admission will be sought: 29,626,201
Placing price per Ordinary Share: 115 pence per share.
There are no restrictions as to the transferability of the Ordinary Shares. No Ordinary Shares will be held in treasury on Admission.
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CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
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Capital to be raised: £14.58 million.
Anticipated market capitalisation on Admission: £34.07 million.
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
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80.3 per cent.
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DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
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Not applicable.
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FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):
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Christopher (“Chris“) Michael Kennedy Spencer, Non-Executive Chairman.
Saiyed Ibraheem (“Ibs“) Mahmood, Chief Executive Officer.
Sebastien (“Seb“) Guillaume Bernard Jantet, Chief Financial Officer.
Dimitrie Spiru Hugo Stephenson, Non-Executive Director.
Jane Elizabeth Silber, Non-Executive Director.
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FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERSEXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):
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% of the Company
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Shareholder
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Pre-Admission
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Post-Admission
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Blue Muse Investments Pty Ltd as trustee of The Blue Muse Trust1
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43.4%
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24.1%
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Saiyed Ibraheem (Ibs) Mahmood
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23.5%
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13.1%
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Peter Graham Davies
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10.6%
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5.9%
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Dimitrie Spiru Hugo (Hugo) Stephenson
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10.6%
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5.9%
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Dale Scott Jessop
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4.0%
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2.2%
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Sebastien (Seb) Guillaume Bernard Jantet
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8.0%
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4.4%
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Dermot Desmond
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0.0%
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14.7%
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Woodford Investment Management Limited
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0.0%
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14.7%
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Adam Digby Knight
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0.0%
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4.4%
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Lombard Odier Asset Management (Europe) Limited
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0.0%
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3.7%
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1 The Blue Muse Trust is a trust which was established by Hugo Stephenson’s mother. Hugo Stephenson is not a beneficiary of The Blue Muse Trust, however close relatives (including his wife and children) and friends of Hugo Stephenson are beneficiaries. The trustee of The Blue Muse Trust is Blue Muse Investments Pty Ltd, of which Hugo Stephenson’s parents are the sole directors and sole shareholders.
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:
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The names of persons (excluding professional advisers otherwise named in this announcement) that have received fees in excess of £10,000 from the Company since 8 May 2018 are set out below:
Dr Edward Jesper William Wallitt
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(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:
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(i) 31 March
(ii) Period 5 March 2018 (date of incorporation of Induction Healthcare Limited) to 30 September 2018
(iii) 30 September 2019 (for its annual audited accounts for the period ended 31 March 2019), 30 December 2019 (for its half-yearly report for the six months ended 30 September 2019) and 30 September 2020 (for its annual audited accounts for the period ended 31 March 2020).
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EXPECTED ADMISSION DATE:
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22 May 2019.
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NAME AND ADDRESS OF NOMINATED ADVISER:
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Numis Securities Limited
10 Paternoster Square
London
EC4M 7LT
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NAME AND ADDRESS OF BROKER:
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Numis Securities Limited
10 Paternoster Square
London
EC4M 7LT
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OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
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A copy of the Company’s Admission Document will be available at the Company’s website at: https://inductionhealthcare.com/
The Admission Document will contain full details about the Company and admission of its securities.
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THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
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QCA Corporate Governance Code.
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DATE OF NOTIFICATION:
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8 May 2019.
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NEW/ UPDATE:
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New
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