LiDCO Group Plc
("LiDCO" or the "Company")
Board appointment and grant of share options
LiDCO Group Plc (AIM: LID), the cardiovascular monitoring company, announces that the appointment of Matthew (Matt) Sassone to the Board as a director has now taken effect. Initially Matt will take on the role of Chief Executive Officer Designate, becoming Chief Executive Officer following a handover period with Dr Terry O'Brien, who is expected to retire at the close of business on 14 August 2015.
As detailed in the announcement on 6 May 2015, Matt has over 18 years' experience in the medical industry in various sales, marketing, business development and management roles. Matt's knowledge of the market for LiDCO's products and customers, coupled to a broad management and sales skill set, ideally positions him to execute on the Company's sales expansion into the UK and overseas.
The Board has today approved the below grants to Mr Sassone of options ("Options") to subscribe for new ordinary shares of 0.5p each ("Ordinary Shares").
|
Option type |
Number of shares over which options granted |
% of the Company's issued Ordinary Shares |
Exercisable from |
Expiry date |
|
EMI |
2,197,802 |
1.13% |
15 June 2018 |
15 June 2025 |
|
Unapproved |
2,197,802 |
1.13% |
15 June 2019 |
15 June 2025 |
|
Total |
4,395,604 |
2.26% |
|
|
The Options are exercisable at 0.5 pence per Ordinary Share, subject to the achievement of certain targets relating to the Company's share price and earnings per share.
For further information, please contact:
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LiDCO Group Plc |
|
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Terry O'Brien (CEO) |
Tel: +44 (0)20 7749 1500 |
|
Paul Clifford (Finance Director) |
|
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|
|
finnCap |
Tel: +44 (0)20 7600 1658 |
|
Geoff Nash / James Thompson (Corporate Finance) |
|
|
Stephen Norcross (Corporate Broking) |
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|
|
|
Walbrook PR Ltd |
Tel: 020 7933 8780 or lidco@walbrookpr.com |
|
Paul McManus |
Mob: 07980 541 893 |
|
Lianne Cawthorne |
Mob: 07584 391 303 |
About LiDCO Group Plc (www.lidco.com)
LiDCO is a supplier of non-invasive and minimally invasive hemodynamic equipment to hospitals used to monitor the amount of blood flowing around the body and ensure that vital organs are adequately oxygenated. LiDCO's products facilitate the application of hemodynamic optimisation protocols for high risk patients in both critical care units and in the operating theatre.
Increasingly clinical studies are showing that the optimisation of patients' hemodynamic status in high risk patients produces better outcomes and reduced hospital stay. LiDCO's computer-based technology, developed at St Thomas' Hospital in London, has been shown to significantly reduce morbidity and complications, length of stay and overall costs associated with major surgery.
Key Products:
LiDCOplus: a computer-based platform monitor used in the Intensive Care Unit for real-time continuous display of hemodynamic parameters including cardiac output, oxygen delivery and fluid-volume responsiveness (PPV% and SVV%).
LiDCOrapid: a cardiac output monitor designed specifically for use in the operating theatre for fluid and drug management. The monitor enables anaesthetists to receive accurate and immediate feedback on the patient's fluid and hemodynamic status - a key measure of overall well-being before, during and after surgery. The LiDCOrapid provides:
· early and rapid warning of hemodynamic change to aid choice of therapeutic route: fluid or drug
· quantification of hemodynamic response
· guidance on effective delivery of fluids to ensure the right amount at the right time
LiDCOview: an easy-to-use graphical display of historical LiDCOplus and LiDCOrapid hemodynamic data.
LiDCO Unity Software: software incorporated into LiDCOrapid v2 that allows the LiDCOrapid monitor to co-display Covidien's level of consciousness parameter ('BISTM')* and add the convenience of CNSystem's continuous non-invasive blood pressure monitoring ('CNAP')**. This will address a growing requirement for non-invasive monitoring solutions that are more comprehensive and can effectively replace multiple single parameter monitors.
*BISTM and Bispectral Index are trademarks of Covidien LP registered in the US and foreign countries.
**CNAPTM is a trademark of CNSystems Medizintechnik AG.
LiDCO monitors use single-patient disposables (sensors or smartcards) which provide an ongoing revenue stream.
LiDCO Distribution Network:
LiDCO sells directly to hospitals in the UK and USA and through a network of specialty critical care and anaesthesia distributors in the rest of the world.
LiDCO's marketing office is in Cambridge, its manufacturing facility and headquarters are in London and its shares are traded on AIM.