Home » Feedback (FDBK) » Feedback (FDBK) raises £200,000 to fund TexRAD development

Feedback (FDBK) raises £200,000 to fund TexRAD development

FBKlogoFeedback plc (FDBK), the medical imaging software company, is pleased to announce that it has placed 11,111,111 new ordinary shares of 0.25 pence each at a price of 1.8 pence per ordinary share with a number of existing and new investors raising £200,000. The Placing has been completed by Peterhouse Corporate Finance Limited.

The proceeds of the Placing will fund continuing development of the TexRAD software.

The Placing includes participation by two of Feedback’s directors, Tom Charlton who invested £50,400 for 2,800,000 Placing Shares and Trevor Brown who invested £18,000 for 1,000,000 Placing Shares both at a price of 1.8 pence per ordinary share. Following the Placing, the Participating Directors will be interested in a total of 104,613,919 ordinary shares in the Company representing 51.83% of the enlarged issued share capital of the Company. The shareholdings of the Participating Directors on completion of the Placing will be as follows:

Director No. of Shares %
Trevor Brown 55,089,111 27.29
Tom Charlton 49,524,808 24.53

The Placing Shares will rank pari passu with the existing Ordinary Shares and application will be made for the Placing Shares to be admitted to trading on AIM. It is expected that Admission will become effective and dealings in the Placing Shares will commence by 8.00 a.m. on 8 June 2015.

Following Admission of the Placing Shares, the Company’s enlarged issued share capital will consist of 201,857,857 ordinary shares with voting rights. This number may be used by shareholders, following the Placing, as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority’s Disclosure and Transparency Rules.

Related Party Transaction:

Due to the fact that  Trevor Brown and Tom Charlton are directors of the Company and the size of their respective shareholdings, their participation in the Placing constitutes a related party transaction as defined in the AIM Rules. Simon Barrell, Non-Executive Chairman, has not participated in the Placing and is therefore deemed to be independent under the AIM Rules for the purposes of considering the related party transaction. The Independent Director, having consulted with Sanlam Securities UK Limited, the Company’s nominated adviser, considers that the terms of the participation in the Placing by the Participating Directors are fair and reasonable insofar as the Company’s shareholders are concerned.

For further information please contact:

Feedback plc    Tel: 01954 718072
Simon Barrell / Trevor Brown / Tom Charlton


Sanlam Securities UK (Nominated Adviser and Joint Broker)    Tel: 020 7628 2200
Simon Clements / Virginia Bull/ Andrew Wagstaff


Peterhouse Corporate Finance Ltd (Joint Broker)    Tel: 020 7469 0936
Lucy Williams / Duncan Vasey

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