17 February, 2022
Deltex Medical Group plc
("Deltex Medical" or the "Group")
Grant of options
Deltex Medical Group plc (AIM: DEMG), the global leader in Oesophageal Doppler Monitoring ("ODM"), announces that yesterday, 16 February 2022, the Board approved the issue of share options to Andy Mears, Chief Executive Officer and Natalie Wettler, Group Finance Director, under the Company's 2003 Share Option Scheme (the "EMI Share Scheme").
Employee Share Option Scheme
In accordance with the Company's Renumeration Policy the Board has approved the issue of 15,000,000 share options to Andy Mears, Chief Executive and 8,500,000 share options to Natalie Wettler, Group Finance Director. The exercise price for these options is 1.35 pence per share, the closing price on 16 February 2022. These share options will vest three years after award, subject to performance conditions based on achieving certain specified earnings targets, or in the event of a change in control of the Company.
Confirmation of Directors' interests in share options
Following the grant of EMI options above, the options held by Directors are shown below:
Executive Director 2011 Executive Share Scheme 2003 EMI Share Scheme Total
Number Number Number
Andy Mears 150,000 25,000,000 25,150,000
Natalie Wettler - 11,250,000 11,250,000
For further information, please contact:
| Deltex Medical Group plc | 01243 774 837 |
| Nigel Keen, Chairman | |
| Andy Mears, Chief Executive |
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| Natalie Wettler, Group Finance Director |
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| Arden Partners plc | 020 7614 5900 |
| Paul Shackleton (Corporate Finance) Simon Johnson (Corporate Broking) |
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| Joint Broker |
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| Turner Pope Investments (TPI) Ltd | 0203 657 0050 |
| Andy Thacker James Pope
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| 1 | Details of the person discharging managerial responsibilities / person closely associated | |
| a) | Name | a. Andy Mears (Chief Executive) b. Natalie Wettler (Group Finance Director)
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| 2 | Reason for the notification | |
| a) | Position/status | See 1 a) above |
| b)
| Initial notification /Amendment | Initial notification |
| 3
| Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor | |
| a) | Name | Deltex Medical Group plc |
| b) | LEI | 213800XN34P6LI8J6M39 |
| 4
| Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted | |
| a)
| Description of the financial instrument, type of instrument Identification code | Issue of share options
Identification code (ISIN) for Deltex Medical Group plc ordinary shares: GB0059337583
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| b) | Nature of the transaction | Issue of options |
| c) | Price(s) and volume(s) | Issue of share options a. 23,500,000
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| d) | Aggregated information - Aggregated volume - Price |
23,500,000 Exercisable at 1.35 pence |
| e) | Date of the transaction | 17.02.22 |
| f) | Place of the transaction | Outside a trading venue |
Notes for Editors
Deltex Medical manufactures and markets haemodynamic monitoring technologies, which are primarily used in critical care and general surgical procedures. Deltex Medical's proprietary oesophageal Doppler monitoring (TrueVue Doppler) measures blood flow velocity in the central circulation in real time. The technology generates a low-frequency ultrasound signal which is highly sensitive to changes in blood flow and measures such changes in 'real time'. Deltex Medical is the only company in the enhanced haemodynamic monitoring space to have built a robust and credible evidence base demonstrating both the clinical and economic benefits of its core technology: TrueVue Doppler. This technology has been proven in a wide range of clinical trials to reduce complications suffered by patients after surgery and consequently can save hospitals money.
Clinicians would like to be able to monitor the haemodynamic status of awake patients not only in the operating room and intensive care departments. Our R&D programmes will provide the capability for Deltex Medical devices to be used in A&E, including, for example, for the rapid detection of sepsis, as well as on lower acuity wards or outside the hospital setting.
Deltex Medical is designing the next generation of non-invasive Doppler ultrasound devices that will be released onto the TrueVue platform and will accurately measure a non-sedated patient's haemodynamic status anywhere within the hospital and not just for elective surgical patients.
Group goal
Haemodynamic management is now becoming widely accepted as a vital part of the anaesthesia protocols for surgical patients, as well as treating ventilated intensive care patients, including ventilated COVID-19 patients. There is also a desire to start measuring haemodynamics on awake patients outside of the operating room or intensive care departments, such as in lower acuity units or in A&E. Our R&D programmes are targeting these broader applications. Consequently, the Group's focus is on maximising value from the opportunities associated with: the COVID-19 pandemic; the elective surgery backlog; the risks associated with sepsis; awake patients and the higher profile of haemodynamic monitoring which has arisen from recent consolidation in the sector.
The Group aims to provide clinicians with a modern, next generation, single 'haemodynamic workstation' platform which offers them a range of technologies from simple to sophisticated to be deployed according to the patient's clinical condition as well as the skill and expertise of the user. Doing this will enable the Group to partner with healthcare providers to support modern haemodynamic management across the whole hospital.
The Group is currently in the implementation phase of achieving this goal in a number of territories worldwide, operating directly in the UK and the USA, and via agreements with approximately 40 distributors overseas.
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