Electrical Geodesics, Inc Posting of Proxy Statement (1801J)
June 26 2017 - 8:40AM
UK Regulatory
TIDMEGI
RNS Number : 1801J
Electrical Geodesics, Inc
26 June 2017
26 June 2017
Electrical Geodesics, Inc.
Posting of Proxy Statement
EUGENE, OREGON, USA, 26 June 2017 - Electrical Geodesics, Inc.
("EGI" or the "Company"), a leading neurodiagnostic medical
technology company, confirms that, further to the announcement on
22 June 2017 (the "Initial Announcement"), a proxy statement
including a notice of Special Meeting has been posted to EGI's
stockholders today in relation to the recommended cash acquisition
of all of the outstanding shares of the Company by Philips Holding
USA Inc. and the proposed delisting of the Company Common Stock
from AIM. The Special Meeting is to be held at the offices of the
Company, 500 East 4th Avenue, Suite 200, Eugene, OR 97401, USA at
9.00 a.m. Pacific time on 17 July 2017.
A copy of the Proxy Statement will shortly be available on the
Company's website (www.egi.com).
The timetable of principal events in connection with the
recommended cash acquisition is as follows:
Distribution of the Proxy 26 June 2017
Statement and Notice of
Special Meeting
------------------------------ -----------------------
Last time for lodging 7 July 2017
the Form of Direction
------------------------------ -----------------------
Last time for lodging 12 July 2017
the Form of Proxy
------------------------------ -----------------------
Last time for lodging 12 July 2017
the Form of Declarations
------------------------------ -----------------------
Special Meeting of Company 9:00 a.m. Pacific time
on 17 July 2017
------------------------------ -----------------------
Last day of dealing in Expected to be 19 July
Company Common Stock on 2017*
AIM
------------------------------ -----------------------
Termination of the Depository 19 July 2017
Interest register
------------------------------ -----------------------
Closing of the Acquisition Expected to be 20 July
2017*
------------------------------ -----------------------
Date of Cancellation Expected to be 21 July
2017*
------------------------------ -----------------------
Payment of Acquisition Commencing on 21 July
Price to Stockholders 2017*
commences
------------------------------ -----------------------
*Subject to satisfaction or waiver of other conditions to
closing as provided for in the Merger Agreement.
The Proxy Statement details two resolutions to be considered and
voted upon at the Special Meeting as follows:
1. a resolution approving and adopting the Acquisition and the
Merger Agreement (the "Merger Resolution"), which resolution will
require approval by Stockholders holding a majority (greater than
50%) of the issued and outstanding shares of Company Common Stock
entitled to vote thereon; and
2. a resolution approving the delisting of the Company Common
Stock from AIM prior to the closing of the Acquisition (the
"Delisting Resolution"), which resolution will require approval by
Stockholders holding at least 75% of the issued and outstanding
shares of Company Common Stock entitled to vote thereon.
This Announcement supplements and updates the information
contained in the Initial Announcement. This Announcement and the
Initial Announcement are qualified in their entirety to the more
detailed information set forth in the Proxy Statement and the
Merger Agreement and Company Stockholders are urged to read the
Proxy Statement in its entirety. Capitalized terms not otherwise
defined herein shall have the definitions set forth in the Initial
Announcement.
For more information contact:
EGI
Ann Bunnenberg +1 541 687 7962
Peel Hunt LLP (NOMAD
and Broker)
James Steel, Oliver +44 (0) 20 7418
Jackson 8900
Electrical Geodesics, Inc. in Summary
Founded in 1992, EGI designs, develops and commercialises a
range of non-invasive neurodiagnostic and neuromodulation products
used to monitor, interpret and modulate brain activity, based on
its proprietary dense array electroencephalography ("dEEG")
platform technology. The Company's technology uses up to 256
sensors, providing much higher resolution brain activity data
compared to conventional 8 or 16 channel EEG and is used in
medical, clinical and research settings in a diverse range of
applications including important areas such as the diagnosis and
monitoring of epilepsy, neurosurgical planning, sleep assessment,
and many others.
EGI's dEEG systems, available in the GES 300 and now the GES 400
lines, capitalise on the Company's unique Hydrocel Geodesic Sensor
Net which allows faster, easier, and more convenient placement of
many EEG sensors in an even distribution over the entire scalp,
providing more accurate and precise diagnosis and measurement.
EGI's technology is now widely used in neuroscience research
laboratories and is becoming more commonly used in clinics, care
centers, and hospitals around the world. Data is measured and
visualised using EGI's proprietary amplifier technology and
software, providing a complete, advanced, high-resolution EEG
platform. The Company's products are compatible with multiple
diagnostic and imaging technologies, including magnetic resonance
(MR) imaging, functional MRI (fMRI), and magneto-encephalography
(MEG).
See our website www.egi.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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