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Scheme of Arrangement Effective in relation to the Recommended Offer to Acquire Intelligent Ultrasound

MARKN.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE A RELEASE, PUBLICATION OR DISTRIBUTION WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION.

On 19 December, the respective board of directors of Surgical Science Sweden AB (“Surgical Science” or the “Company”) and Intelligent Ultrasound Group PLC (“Intelligent Ultrasound”) announced that they have reached agreement on the terms of a recommended cash acquisition to be made by Surgical Science for the entire issued and to be issued ordinary share capital of Intelligent Ultrasound (the “Intelligent Ultrasound Acquisition”). The Intelligent Ultrasound Acquisition is being implemented by way of a Court-sanctioned scheme of arrangement under Part 26 of the Companies Act 2006, which requires the approval of Intelligent Ultrasound Shareholders and the sanction of the Court (the “Scheme”).
 
Unless otherwise defined, all capitalised terms in this announcement shall have the meanings given to them in the scheme document published by Intelligent Ultrasound on 15 January 2025 in connection with the Scheme (the “Scheme Document”).
 
Following the sanction of the Scheme by the Court on 14 February 2025, Surgical Science is pleased to announce that Intelligent Ultrasound has today made an announcement in the United Kingdom via the Regulatory News Service stating that, following delivery of the Court Order to the Registrar of Companies earlier today, the Scheme has now become Effective in accordance with its terms (the “RNS Announcement”).
 
A copy of the RNS Announcement is attached to this press release and will also be made available on Surgical Science’s website, subject to certain restrictions relating to persons resident in certain restricted jurisdictions.
 
Trading in Intelligent Ultrasound Shares on AIM was suspended with effect from 7.30 a.m. (U.K. time) today (18 February 2025) and the cancellation of the admission to trading of Intelligent Ultrasound Shares on AIM is expected to be effective from 7.00 a.m. (U.K. time) tomorrow (19 February 2025).
 
Surgical Science has appointed Pareto Securities AB as Financial Advisor and Strand Hanson Limited as UK Financial Advisor for the Intelligent Ultrasound Acquisition. Baker McKenzie LLP is acting as legal adviser to Surgical Science, and PwC acts as due diligence adviser to Surgical Science in connection with the Intelligent Ultrasound Acquisition.
 
Gothenburg, Sweden, February 18, 2025
Surgical Science Sweden AB (publ)
 
The RNS Announcement, in its entirety, is available through the attachment or via:
https://surgicalscience/investor-relations/#press-releases

For further information, please contact:

Tom Englund, CEO
Telephone: +46-70-916 16 81
E-mail: tom.englund@surgicalscience.com

Anna Ahlberg, CFO
Telephone: +46-70-855 38 35
E-mail: anna.ahlberg@surgicalscience.com

About Surgical Science Sweden AB (publ)

One of the biggest challenges within healthcare globally is reducing injuries incurred during care. Medical education and training are key, especially as a large part of the training can now be performed outside the operating room. Surgical Science is a world leader in the development of virtual reality simulators for evidence-based training. The simulators enable surgeons and other medical specialists to train and improve their psycho-motor skills and instrument handling before entering the clinical environment. Alongside its own products, Surgical Science works with simulation solutions for medical device companies that develop instruments for clinical use, such as robotic surgery.

Surgical Science has approximately 270 employees. The company is headquartered in Gothenburg, Sweden and also has operations in Tel Aviv, Israel, as well as in Stockholm, Sweden and in Seattle and Cleveland, US. Through sales offices in the US and China as well as a global network of distributors, Surgical Science maintains a presence in most markets. Shares in Surgical Science Sweden AB (publ) are traded on Nasdaq First North Growth Market. Certified Adviser is Carnegie Investment Bank AB (publ).

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Scheme of Arrangement Effective in relation to the Recommended Offer to Acquire Intelligent Ultrasound
250218 RNS Scheme Effective

Datum 2025-02-18, kl 08:30
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Scheme of Arrangement Effective in relation to the Recommended Offer to Acquire Intelligent Ultrasound
250218 RNS Scheme Effective
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