PMD Informs About the Record Date and Procedure of Reverse Split of Shares

STOCKHOLM, SWEDEN / ACCESSWIRE / January 25, 2024 / PMD Device Solutions (STO:PROMO)(FRA:8T0) At PMD's General Meeting on December 29, 2023, it was resolved, in accordance with the Board's proposal, on a reverse split in the ratio 1:128 whereby 128 shares are combined into 1 share.

With authorization from the general meeting on 29 December 2023, the Board of Directors has today set the record date for the reverse split of shares to be 1 February 2024.

The shareholder Corespring New Technology AB has undertaken to contribute shares free of charge to those shareholders whose number of shares is not evenly divisible by 128. Thus, in the reverse share split all shareholders will hold shares corresponding to a whole number of new shares and there will be no excess shares (so-called fractions). Corespring New Technology AB has also undertaken to round down its remaining shareholding in the Company to the nearest number that is evenly divisible by 128. The reverse share split entails that PMD's number of shares decreases to 20,587,314 and the quota value of the share increases from SEK 0.04 to approximately SEK 5.1.

Information about PMDS

PMD Device Solutions AB develops and sells medical products for respiratory monitoring in both the hospital and homecare setting. Its primary product is RespiraSense, a solution used for monitoring respiratory rate to support the detection of patient deterioration early and to avoid preventable respiratory failure and adverse patient outcomes. RespiraSense is, to the Company's knowledge, the world's only continuous, motion-tolerant respiratory rate monitor delivering class-leading reliability in measuring respiratory rate. RespiraSense is a novel technology that is commercialised in Europe, the UK, and FDA cleared in the US. The company's shares are listed on Nasdaq First North Growth Market (STO:PMDS).

For additional information, please contact

Myles Murray, CEO
Phone: +353 86 887 4994
E-mail: myles@pmd-solutions.com & for general enquiries investor.relations@pmd-solutions.com
The Company's Certified Adviser is Redeye.

Attachments

PMD informs about the record date and procedure of reverse split of shares

SOURCE: PMD Device Solutions