Feedback Plc
Result of Annual General Meeting and Commercial Update
Feedback plc (AIM: FDBK, "Feedback" or the "Company"), the clinical infrastructure specialist, announces that at the Annual General Meeting ("AGM") held today all resolutions, including resolutions 1 to 4 pertaining to the Company's Fundraising as announced on 4 November 2024, were duly passed, details of the number of votes cast are detailed below.
Share Capital Reorganisation
Following the approval of the Fundraising Resolutions (resolutions 1 - 4 below), each of the Company's 13,334,659 Existing Ordinary Shares of 50 pence each will be subdivided into one New Ordinary Share of one penny and one Deferred Share of 49 pence in accordance with Resolution 1 and 2. The New Ordinary Shares arising on implementation of the subdivision will have the same rights as the Existing Ordinary Shares, including voting and
other rights.
Commercial Update
Further to the Company's announcement on 4 November 2024, the Company is pleased to confirm that it has now entered into a memorandum of understanding with its partner and an NHS Trust to implement a pilot for a novel 'Neighbourhood Diagnostics Solution' that combines Bleepa with its partner's technology to streamline NHS diagnostic and pathway referrals between primary care, CDCs and secondary care. Following integration of Bleepa with its partner's technology interface, the pilot is expected to go live in a hospital trust setting in Q1 2025. The Company and its partner are actively building interest in the solution and look forward to providing further updates in due course.
The Pilot will act as a reference site for national policy and provide a platform from which to launch focused engagement with the central NHS and government with the intention of positioning a business case for wider rollout aligned to the Spring Budget. Together with its partners Feedback aims to demonstrate a new technical infrastructure and operating model for the NHS, underpinning the Secretary of State's vision for a Neighbourhood Health Service.
Additionally the Company is in dialogue with a number of ICBs regarding use of Bleepa as a Diagnostic Enhanced Advice and Guidance platform under the Elective Recovery Fund.
Total Voting Rights
Further to the announcement on 4 November 2024, Admission of the New Ordinary Shares is expected to take place at 8:00 a.m. on 29 November 2024.
On Admission, the issued share capital of the Company will consist of 43,814,779 Ordinary Shares with one voting right each. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares and voting rights in the Company will be 43,814,779. With effect from Admission, this figure may be used by Shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure Guidance and Transparency Rules.
Results of AGM
The number of votes cast for and against each of the resolutions proposed, and the number of votes withheld were as follows:
| Resolution | Votes for* | % of votes cast** | Votes against | % of votes cast***
| Votes withheld*** | Total votes cast**** |
| Ordinary Resolution | | | | | | |
| 1. To authorise the Share Capital Reorganisation of the Company. | 6,817,892 | 96.70% | 233,055 | 3.31% | 12,535 | 7,050,947 |
| Special Resolution | | | | | | |
| 2. To amend the articles of association of the Company in connection with the Share Capital Reorganisation. | 6,817,892 | 96.70% | 233,055 | 3.31% | 12,535 | 7,050,947 |
| Further Ordinary Resolution | | | | | | |
| 3. To authorise the directors to allot equity securities generally in connection with the fundraising. | 6,817,892 | 96.70% | 233,055 | 3.31% | 12,535 | 7,050,947 |
| Further Special Resolution | | | | | | |
| 4. To authorise the directors to dis-apply pre-emption rights on a limited basis in connection with the fundraising. | 6,771,226 | 96.03% | 279,721 | 3.97% | 12,535 | 7,050,947 |
| Further Ordinary Resolutions | | | | | | |
| 5. To receive the Annual Report and Accounts for the year ended 31 May 2024, together with the Directors' reports and auditor's report. | 7,050,844 | 100.00% | 103 | 0.00% | 12,535 | 7,050,947 |
| 6. To receive the Directors' Remuneration Report of the Company for the year ended 31 May 2024. | 6,231,723 | 91.32% | 592,440 | 8.68% | 239,319 | 6,824,163 |
| 7. To re-elect Professor Rory Shaw as a director of the Company. | 6,771,226 | 99.28% | 49,285 | 0.72% | 242,971 | 6,820,511 |
| 8. To re-elect Dr. Tom Oakley as a director of the Company. | 7,044,992 | 99.97% | 2,303 | 0.03% | 16,187 | 7,047,295 |
| 9. To re-elect Anesh Patel as a director of the Company. | 7,017,492 | 99.58% | 29,803 | 0.42% | 16,187 | 7,047,295 |
| 10. To re-elect Adam Denning as a director of the Company. | 6,046,532 | 91.08% | 592,224 | 8.92% | 592,224 | 6,638,756 |
| 11. To re-elect Annemijn Eschauzier as a director of the Company. | 6,409,619 | 99.96% | 2,353 | 0.04% | 651,510 | 6,411,972 |
| 12. To re-elect Philipp Prince as a director of the Company. | 6,046,532 | 91.08% | 592,224 | 8.92% | 424,726 | 6,638,756 |
| 13. To re-appoint Price Bailey LLP as auditor of the Company. | 7,047,192 | 100.00% | 103 | 0.00% | 16,187 | 7,047,295 |
| 14. To authorise the directors to determine the fees payable to the auditor. | 7,050,894 | 100.00% | 53 | 0.00% | 12,535 | 7,050,947 |
| 15. To authorise the directors to allot relevant securities, in addition to the authority under resolution 3. | 6,821,544 | 96.75% | 229,403 | 3.25% | 12,535 | 7,050,947 |
| Further Special Resolutions | | | | | | |
| 16. To dis-apply pre-emption rights generally, in addition to the authority under resolution 4. | 6,747,378 | 95.70% | 303,569 | 4.30% | 12,535 | 7,050,947 |
| 17. To dis-apply pre-emption rights pursuant to allotments to finance acquisitions and capital investments, in addition to the authority under resolution 4. | 6,743,726 | 95.64% | 307,221 | 4.36% | 12,535 | 7,050,947 |
* "Votes For" include votes giving the Chairman discretion.
** Percentages exclude "Votes Withheld".
*** "Votes Withheld" are not votes in law and do not count in the number of votes counted for or against a resolution.
**** "Total votes cast" do not include withheld votes.
Terms used but not defined in this announcement shall have the meanings given to such terms in the section headed 'Definitions' in the Company's announcement released at 7:01 a.m. on 4 November 2024.
--Ends--
Enquiries:
| Feedback plc Tom Oakley, CEO Anesh Patel, CFO | +44 (0) 20 3997 7634 IR@fbk.com |
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| Panmure Liberum Limited (NOMAD and Broker) Emma Earl/ Mark Rogers (Corporate Finance) Rupert Dearden (Corporate Broking) | +44 (0)20 7886 2500 |
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| Walbrook PR Ltd; | Tel: 020 7933 8780 or feedbackplc@walbrookpr.com |
| Nick Rome/Joe Walker | 07748 325 236 or 07407 020 470 |
About Feedback
Feedback plc helps clinical teams to make better decisions faster for patients. We design products that enhance clinician access to patient data and to their colleagues. Our unique approach centres around individual patient episodes, into which we pull relevant clinical data from hospital systems and around which we build remote clinical teams for collaboration. As a result, we produce a digital infrastructure that makes patient data available to clinicians in multiple settings, in a format that enables them to meaningfully interact with it, providing flexibility to clinicians and free movement of patients between provider settings - clinicians can practice from anywhere and patients can attend any care provider for treatment, with greater connectivity across organisations.
Our products Bleepa® and CareLocker® work together to deliver unparalleled value to our customers. Bleepa® is our application layer and sits on top of CareLocker® as our data layer. Bleepa® is a clinician facing platform that displays clinical results from a patient's CareLocker® at a certified and regulated quality, that is suitable for clinical use and enables dialogue on a patient-by-patient basis with colleagues through a secure, auditable chat interface that links back to the patient medical record. The CareLocker® data storage model is built around the patient. Our vision is one where relevant clinical data is always available to the patient as well as to any care setting that they may attend - a federated data architecture with the patient as the tenant.
The Company has a number of growth opportunities domestically and internationally across a range of markets including the NHS and private healthcare providers and its highly scalable Software as a Service ("SaaS")-based model is expected to provide increasing levels of revenue visibility as the Company grows its customer base.
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