Lombard Medical Technologies PLC Result of Court Hearing (8028F)

TIDMLMT

RNS Number : 8028F

Lombard Medical Technologies PLC

29 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")

Result of Court Hearing

London, UK, 29 April, 2014 - On 26 February 2014, Lombard Medical (AIM: LMT), the specialist medical device company focused on Endovascular Aortic Repair of abdominal aortic aneurysms, announced that it had published a circular which set out the Board of Directors' recommendations to, inter alia, reorganise the Lombard Medical 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 Court Hearing, adjourned from 14 April 2014, was held today and the Scheme has been approved.

On 25 April 2014 the Company announced the suspension of the Company's shares from trading on AIM. In addition, on the 25 April, LM, Inc. announced the pricing of the IPO of LM, Inc shares on the NASDAQ Global Market. LM, Inc shares commenced trading on the NASDAQ Global Market on 25 April.

The Scheme is expected to become effective tomorrow morning, 30 April 2014, following delivery of the Court Order to the Registrar of Companies for registration.

At 7.00 a.m. BST (2.00 a.m. ET) tomorrow shares in Lombard Medical, will be cancelled on AIM.

This press release and the information it contains is not for publication or distribution, directly or indirectly, in or into the United States.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 
                                         Tel: +44 (0)1235 750 800 
  Lombard Medical, Inc. 
  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) 203 727 1000 
  Simon Conway / Stephanie Cuthbert 
  / Victoria Foster Mitchell

About Abdominal Aortic Aneurysms ("AAA")

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 is a medical device company focused on device solutions for the $1.4 billion per annum abdominal aortic aneurysm 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

END

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