DXSP DXS International Plc

 
TIDMDXSP 
 
 
   THIS ANNOUNCEMENT (THE "ANNOUNCEMENT") AND THE INFORMATION CONTAINED 
HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, 
IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED 
STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY 
OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION 
WOULD BE UNLAWFUL. 
 
   THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES OF THE 
MARKET ABUSE REGULATION (596/2014/EU) ("MAR"). IN ADDITION, MARKET 
SOUNDINGS (AS DEFINED IN MAR) WERE TAKEN IN RESPECT OF CERTAIN OF THE 
MATTERS CONTAINED IN THIS ANNOUNCEMENT, WITH THE RESULT THAT CERTAIN 
PERSONS BECAME AWARE OF SUCH INSIDE INFORMATION, AS PERMITTED BY MAR. 
UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS 
NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN AND SUCH PERSONS SHALL 
THEREFORE CEASE TO BE IN POSSESSION OF INSIDE INFORMATION. 
 
   DXS INTERNATIONAL PLC 
 
   Placing and Subscription 
 
   DXS International plc ("DXS", the "Company"), the digital clinical 
decision support company, is pleased to announce that it has through 
Hybridan LLP ("Hybridan") raised in excess of GBP 1,000,000 (before 
expenses) (the "Fundraising"), more than twice oversubscribed and 
including new institutional investors. The Fundraising comprises a 
placing of 12,475,000 New Ordinary Shares (the "Placing") and a 
subscription of 200,000 new Ordinary Shares (the "Subscription") all at 
a price of 8 pence per share (the "Placing Price"). 
 
   The Placing raised GBP 998,000 and the Subscription GBP 16,000 for new 
ordinary shares of 0.33 pence each ("New Ordinary Shares").  David 
Immelman, the Company's Chief Executive Officer, and another senior 
manager participated in the Subscription providing GBP 14,000 and 
subscribing for 175,000 New Ordinary Shares at the Placing Price. 
 
   Application has been made for admission of the New Ordinary Shares, with 
trading on the NEX Exchange Growth Market ("NEX") expected to commence 
on 26(th) February 2020 ("Admission"). Hybridan acted as sole broker to 
the Company on the Fundraising. 
 
   The Placing and Subscription shares will represent approximately 26.27 
per. cent. of the total issued share capital of the Company, post 
Admission and the issued share capital of the Company will be 48,256,416 
ordinary shares. This figure may be used by shareholders as the 
denominator for the calculations by which they will determine if they 
are required to notify their interest in, or change to their interest in, 
the Company under the FCA's Disclosure Guidance and Transparency Rules. 
 
   The net proceeds of the Fundraising, which will be approximately GBP 
955,000, will be used by the Company to invest in the Group's 
operations. As an accredited NHS Supplier under the new GP IT Futures 
programme (GPITF), the funding is to provide working capital to take the 
company's newly developed healthcare solutions to market.  GPITF is 
central to the NHS Long Term Plan, the five-year framework for GP 
contract reform and the NHS' Digital, Data and Technology Vision. 
 
   DXS is also pleased to announce that its core solution was one of the 
first to be funded under this new GPITF agreement and the transition to 
the new framework has been smooth and included a modest price uplift. 
 
   These new solutions, into which the Company has invested more than GBP 4 
million, are aligned with the NHS' long term plan and are expected to 
have a significant positive impact on the UK healthcare sector, 
initially in particular the treatment of Hypertension. 
 
   NHS accreditation for our new solution suite, which will ensure central 
NHS funding, is expected to be complete by the end of April 2020. Early 
pilots and trials are receiving positive feedback. 
 
   David Immelman, Chief Executive Officer, commented: 
 
   "We are delighted by the response to our first institutional fundraise. 
It was 100% oversubscribed with the welcome addition of new VCT and EIS 
funds onto our shareholder register.  The growth capital received will 
be directly put towards growing our presence in the UK and build upon 
the already 2,000 strong GP practices in which we currently operate. 
 
   We also welcome the Government's recent message stating that the NHS 
adopting better technology is not a 'nice to have' but is vital to its 
operation.  This bodes well for DXS as we are one of the very few NHS 
accredited suppliers of clinical decision support tools to the 
healthcare sector". 
 
   The Directors of DXS International plc accept responsibility for this 
announcement 
 
   Contacts: 
 
 
 
 
David Immelman (Chief Executive)               01252 719800 
 DXS International plc                david@dxs-systems.com 
https://www.dxs-systems.co.uk 
 
 
 
 
 
 
Corporate Advisor 
City & Merchant Limited 
 David Papworth           020 7101 7676 
 
 
 
 
 
 
Corporate Broker and sole broker 
 to the Placing 
Hybridan LLP 
 Claire Louise Noyce               020 3764 2341 
 
 
   Notes to Editors 
 
   About DXS: 
 
   DXS International plc presents up to date treatment guidelines and 
recommendations, from Clinical Commissioning Groups and other trusted 
NHS sources, to doctors, nurses and pharmacists in their workflow and 
during the patient consultation. This effective clinical decision 
support ultimately translates to improved healthcare outcomes delivered 
more cost effectively and which should significantly contribute towards 
the NHS achieving its projected efficiency savings. 
 
 
 
 

(END) Dow Jones Newswires

February 19, 2020 02:00 ET (07:00 GMT)

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