24.10.2016 20:00:00 CET

Conversion of the convertible bond entered into between Nexstim Plc and Bracknor to shares and issuance of shares pursuant to the financing arrangement announced on 21 July 2016

 

Company announcement, Helsinki, 24 October 2016 at 9 pm

Nexstim Plc (NXTMH:HEX, NXTMS:STO) ("Nexstim" or the "Company"), a medical technology company with a pioneering navigated non-invasive brain stimulation system, announces that, pursuant to the authorisations received from the Company's Extraordinary General Meeting on 18 August 2016 and the financing arrangement entered into with Bracknor Investment which was announced on 21 July, the Board of Directors of the Company has today resolved to approve Bracknor's request to convert EUR 75,000 of the convertible bond to Company's shares at issue price of EUR 0,234515.  The Board of Director's has resolved to transfer a total of 319,808 new shares of the Company to Bracknor. The board of directors of the Company has also resolved to issue 1,271,068 new treasury shares to the Company itself without payment and to list the new shares issued pursuant to the above resolutions. The new shares will be listed approximately on 28th October 2016. After the issuance the Company will have 1,298,213 treasury shares and the total number of shares in the Company is 12,982,131.

NEXSTIM PLC
Martin Jamieson, CEO

Further information is available on the website www.nexstim.com or by telephone:

Nexstim                                                                                                                                    +447715163942
Martin Jamieson, CEO                                                                              martin.jamieson@nexstim.com
                                                                                                                                                                                
UB Securities Oy (Certified Adviser)                                                                         +358 (0)9 2538 0246

Consilium Strategic Communications                                                                     +44 (0)20 3709 5700
Mary-Jane Elliott / Ivar Milligan / Laura Thornton                           nexstim@consilium-comms.com

About Nexstim Plc
Nexstim is a medical technology company which has pioneered its technology in brain diagnostics with the Navigated Brain Stimulation (NBS) system. It is the first and only FDA cleared and CE marked system based on navigated Transcranial Magnetic Stimulation (nTMS) for pre-surgical mapping of the speech and motor cortices of the brain. Based on the same technology platform, the Company has developed a system called Navigated Brain Therapy (NBTŪ) which is CE marked for the treatment of chronic neuropathic pain, major depression and stroke. Nexstim shares are listed on the Nasdaq First North Finland and Nasdaq First North Sweden. For more information please visit www.nexstim.com

 

Nexstim Plc