TIDMLMT

RNS Number : 4731F

Lombard Medical Technologies PLC

24 April 2014

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL.

Lombard Medical Technologies PLC

("Lombard Medical", or "the Company")

Revision to timetable for recommended Proposal

London, UK, 25 March, 2014- On 26 February 2014, Lombard Medical (AIM: LMT), the specialist medical device company focused on Endovascular Aortic Repair ("EVAR") of abdominal aortic aneurysms ("AAAs"), announced that it had published a circular (the "Circular") which set out the Board of Directors' recommendations to, inter alia, reorganise the Lombard Medical Technologies Group pursuant to a Court approved scheme of arrangement (the "Scheme") so that Lombard Medical becomes a directly-owned subsidiary of Lombard Medical, Inc ("LM Inc"). The Circular was sent to shareholders on 26 February 2014 containing, inter alia, the reasons for and terms of the Scheme, notices convening the requisite Court Meeting and General Meeting (the "Scheme GM") and the details of the action to be taken by shareholders.

On 11 April 2014, the Company announced an extension to the timetable due to adverse US stock market conditions. In addition, on 14 April 2014, the Company announced the adjournment of the Court Hearing until 29 April 2014.

Changes to the indicative timetable contained in the Scheme Circular

The Company anticipates announcing the pricing of the IPO of LM Inc shares on the NASDAQ Global Market tomorrow in accordance with the revised timetable set out below. In addition, the Company anticipates a suspension in the trading of its shares at 7.30 a.m. tomorrow, An announcement confirming such suspension will be released accordingly.

 
 Last day and time for receipt of transfers      12.00 noon on 24 April 
  of LMT Shares for registration                  2014 (1) 
----------------------------------------------  ----------------------- 
 
 Last day of dealings in LMT Shares              Up until 4.30 p.m. on 
                                                  24 April 2014 (1) 
----------------------------------------------  ----------------------- 
 Suspension of trading of LMT Shares on          7.30 a.m. on 25 April 
  AIM                                             2014 (1) 
----------------------------------------------  ----------------------- 
 Conditional dealings commence in LM, Inc.       2.30 p.m. (9.30 a.m. 
  Fundraising Shares                              New York time) on 25 
                                                  April 2014 (1) 
----------------------------------------------  ----------------------- 
 Scheme Record Time                              6.00 p.m. on 28 April 
                                                  2014 (1) 
----------------------------------------------  ----------------------- 
 Third Court Hearing to sanction the Scheme      29 April 2014 (1) 
  and Capital Reduction 
----------------------------------------------  ----------------------- 
 Cancellation of quotation of LMT Shares         7.00 a.m. on 30 April 
  on AIM                                          2014 (1) 
----------------------------------------------  ----------------------- 
 Effective Date of the Scheme (filing of         30 April 2014 (1) 
  Court Order with the Registrar of Companies) 
----------------------------------------------  ----------------------- 
 Commencement of trading on the NASDAQ           2.30 p.m. (9.30 a.m. 
  Global Market in LM, Inc. including in          New York time) on 30 
  relation to LM, Inc. Fundraising Shares         April 2014 (1) 
----------------------------------------------  ----------------------- 
 Latest date for despatch of DRS statements      9 May 2014 (1) 
  (if applicable) in respect of LM, Inc. 
  Shares 
----------------------------------------------  -----------------------

(1) These times and dates are indicative only and will depend, among other things, on the date upon which the Court sanctions the Scheme and confirms the associated Capital Reduction as well as the date on which the Court Order is delivered to the Registrar. These dates may also be adjusted to the extent that the dates of the LM, Inc. Fundraising and the NASDAQ Listing are amended. If any of the dates set out above (including, inter alia, the expected date of the Court Hearing) change, the Company will give notice of the change by issuing an announcement through a Regulatory Information Service and by notice on the Company's website. All LMT Shareholders have the right to attend court hearings.

This press release and the information it contains is not for publication or distribution, directly or indirectly, in or into the United States. This press release is not intended to, and does not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.

-Ends-

For further information:

 
 Lombard Medical Technologies PLC       Tel: +44 (0)1235 750 800 
  Simon Hubbert, Chief Executive 
  Officer 
  Ian Ardill, Chief Financial Officer 
 
 Canaccord Genuity Limited (Nomad)      Tel: +44 (0)20 7523 8000 
  Lucy Tilley / Tim Redfern / Henry 
  Fitzgerald O'Connor / Dr Julian 
  Feneley 
 
 FTI Consulting (UK)                    Tel: +44 (0)20 7831 3113 
  Simon Conway / Stephanie Cuthbert 
  / Victoria Foster Mitchell

About Abdominal Aortic Aneurysms

AAAs are a balloon-like enlargement of the aorta which, if left untreated, may rupture and cause death. Approximately 4.5 million people are living with AAAs in the developed world and each year over 500,000 new cases are diagnosed. In the US, aortic aneurysm disease is among the leading causes of death and it is estimated that 1.7 million people over the age of 55 have an abdominal aortic aneurysm.

About Lombard Medical

Lombard Medical Technologies PLC (AIM: LMT) is a medical device company focused on device solutions for the $1.4 billion per annum abdominal aortic aneurysm ("AAA") repair market. The Company's lead product, Aorfix(TM), is an endovascular stent graft which has been specifically designed to solve the problems that exist in treating complex tortuous anatomy, which is often present in advanced AAA disease. Aorfix is the only stent graft approved for AAA neck angulations of up to 90 degrees and is currently being commercialized worldwide. Aorfix is the first AAA stent graft not of US origin to gain US FDA approval. The Company is headquartered in Oxfordshire, England with US operations in Irvine, CA.

Further background on the Company can be found at www.lombardmedical.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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