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 2016, the Board of Directors of the Company has today resolved to approve Bracknor's request to convert EUR 500,000 of the convertible bond to Company's shares at issue price of EUR 0,10727. The Company has resolved to transfer a total of 4,661,135treasury shares to Bracknor. After the transfer the Company will have 911,183 treasury shares.
After this conversion, the Company has received the full EUR 5 million funding from Bracknor based on the convertible bond facility announced on 21 July 2016 (the "CBF Agreement") and the loan has been converted fully to shares. The SEDA arrangement between the Company and Bracknor shall continue according to the SEDA Agreement.
Martin Jamieson, Chairman & CEO
Martin Jamieson, Chairman and CEO
UB Securities Oy (Certified Adviser)
+358 (0)9 2538 0246
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 (NBT®) 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.