Feedback slumps as it confirms share placing

Feedback shares slumped on Wednesday as it confirmed it was working on a new share placing to fund the development of its Bleepa clinical messaging product.

Responding to online speculation about a possible equity fundraising, the AIM-traded medical imaging technology firm said there was no certainty that such a fundraising will be concluded nor as to its timing or terms.

The Bleepa product is a messaging app that is intended to aid clinicians in secure messaging from smartphones, tablets and desktops, and is due for launch in early September.

Chief executive Tom Oakley said: "We are making rapid progress in the development of our new messaging app, BleepaTM. We believe that it will provide a flexible, accurate and secure method for swift clinical decision making, revolutionising the way in which patients receive treatment whilst safeguarding our doctors from potential litigation."

Feedback shares were down 23.33% at 1.26p at 1155 BST.