MED, the designer and manufacturer of low-power microdisplays using light emitting polymers for portable consumer electronics products, today announces its intention to raise approximately £7.5 million (net of expenses) by way of a Placing.

Summary of the Placing:

• Placing of 15,720,000 Placing Shares at a price of 50p per share to raise approximately £7.5 million (net of expenses).

• Net proceeds of the Placing will be used to strengthen the Company’s balance sheet and fund the working capital requirements anticipated as a result of the ramping of production at the Company’s manufacturing facility, providing comfort to existing and prospective commercial partners.

George Elliott, Chairman of MED, said:

‘These additional funds will ensure that on completion of the conditional placing, MED has the financial resources required to ramp production and execute management’s strategy for growth.’



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