Placing and Directors’ Shareholdings
Embargoed Release: 07:00hrs, Wednesday 26th November 2008
Toumaz Holdings Limited
(`Toumaz Holdings', the `Company' or the `Group')
Placing and Directors' Shareholdings
Toumaz Holdings is pleased to announce it has conditionally placed 13,958,331
new ordinary shares of 0.25p each (`Placing'), in the Company at a price of 6p,
raising £837,499.86. Among the existing and new shareholders subscribing to the
Placing, the Group's executive chairman Sir Richard Sykes accounted for
1,666,666 of the total shares issued and Phillipe Tischauser, non-executive
director, acquired 933,333 shares. The Board believes the placing price of 6p
represents the confidence investors have in the progress Toumaz has made in
commercialising its product portfolio.
The proceeds of the placing will be largely used to provide working capital for
its 100% owned investment Toumaz Technology Limited (`Toumaz Technology'),
which continues to progress and implement its multi-application, end-to-end
branded solution, the Sensium(tm). Projected revenues for Toumaz Technology are
expected to exceed the company's expectations of £2,500,000 compared with less
than £200,000 for the corresponding period in 2007. This rapid growth in the
company's income is firm verification of Toumaz Technology's progress to-date;
it also provides the springboard for 2009, when the Board anticipates it will
realise its stated objective of the further commercialisation of its cutting
edge technology, based around the Sensium(tm).
Designed and developed by Toumaz Technology, the Sensium(tm) is an ultra-low power
system-on-chip technology platform with a wireless infrastructure that enables
continuous, intelligent non-intrusive body monitoring. It offers an end-to-end
telecare solution that, with related applications currently being co-developed
with Toumaz Technology's partners, provide real insight into an individual's
overall health status. The Sensium(tm) captures robust physiological data, such as
multiple vital signs, in real-time which is merged with electronic medical
records, patient history, current care and drug regime details. The collated
data presents comprehensive health information that can be used to transform
healthcare possibilities by providing flexible, lifestyle-compatible,
personalised healthcare from the hospital bed to telecare to out-patient
management. The Sensium(tm) is ideally placed to ease pressures on the global
healthcare industry as it copes with increasingly ageing populations as well as
tempering the accelerating costs of in- and out-patient care.
Toumaz Technology's commercial programme remains focused on its key customers
and partners: Texas Instruments Inc. (`Texas Instruments'), Cardinal Health
Inc. (Cardinal Health') and Infineon Technologies AG (`Infineon'). The
company's continuous punctual deliverance of key milestones with Cardinal
Health has ensured its programme remains on track: early beta samples of the
Sensium(tm) digital plaster, which is initially targeting sales in the hospital
sector, will be available in the first half of 2009. Other products that have
been developed by Toumaz Technology and incorporate the Sensium(tm)'s technology
are expected to be available in February and will be initially be used in
clinical trials within the UK, allowing fast-track progress to EU CE
certification, a medical regulatory requirement.
The placing is conditional on the Placing Shares being admitted to trading on
AIM, following which Toumaz Holdings will have a total issued share capital of
240,717,461 Ordinary Shares. The Placing Shares will, on issue, rank pari passu
in all respects with the existing Ordinary Shares in issue. Application will be
made for the Placing Shares to be admitted to trading on AIM, which is expected
to be on or around 28th November 2008.
Director's Shareholding
Following the Placing, Sir Richard Sykes, director and executive
chairman-elect, holds 1,666,666 ordinary shares of 0.25p each, on (`Ordinary
Shares') on 25th November 2008 at a price of 6p per share. Sir Richard Sykes'
total interest in 1,666,666 Ordinary Shares represents 0.69% of the Company's
enlarged issued share capital.
In addition, Mr Philippe Tischhauser, non-executive director, participated in
the Placing, purchasing 933,333 Ordinary Shares on 25th November 2008 at a
price of 6p per share. Mr Tischhauser is now interested in a total of 933,333
Ordinary Shares representing 0.387% of the Company's total issued share
capital.
Guy Spelman, chief executive officer of Toumaz Holdings, commented:
`We are delighted that in this volatile financial period we have not only been
able to successfully secure further funding for Toumaz Holdings but that we
have managed to do so at a significant premium to the Group's recently trading
share price. We are also very pleased that Sir Richard Sykes has participated
so significantly in the Placing; this, and the continued support from existing
investors is testament of their confidence that our investments will unlock
considerable value in the future. For Toumaz, we remain focused on
strengthening the partnerships with global leaders of their sector such as
Infineon Technologies, Texas Instruments and Cardinal Health as well as
unlocking future partners in targeted sectors. In addition, the placing will
help propel our stated commercial plans; allowing for the further manufacture
of our product portfolio as well as providing the option to explore additional
forms of working capital and trade finance for the business when required.'
-End-
For further information please contact:
Guy Spelman
Toumaz Holdings Limited
Tel: +44 7767 338 967
Rose Herbert/
Charles Cunningham/
Sam Smith
FinnCap
Tel: 020 7600 1658
Vikki Krause
Hansard Group
Tel: +44 207 245 1100
END