Partial Sell Down Boosts Pro Medicus Stock Liquidity

The Board of leading medical IT and e-health company, Pro Medicus Limited (ASX:PME), announced today that founding shareholders Dr Sam Hupert and Mr Anthony Hall have released a quarter of their shareholding to institutional and sophisticated investors.

Dr Hupert and Mr Hall have each sold 10 million shares at $1.40, an 8% discount to the 3 month volume weighted average (VWAP) price in well supported transactions brokered by Goldman Sachs J B Were. Dr Hupert and Mr Hall will each retain around 30 million shares, a total of approximately 60% of the issued capital of the company, and will remain fully active in the company in their roles as Chief Executive Officer and Director of Technology.

Pro Medicus Chairman Mr Mel Ward welcomed the development. "We've had feedback for some time that the lack of liquidity and consequent share price volatility was a limiting factor for us in the market," he said. "I indicated at our last AGM that we planned to improve that situation during this financial year and we are delighted to have achieved it so successfully. The interest from the investment community was strong and we are delighted to welcome a number of prominent new shareholders onto our register."

Dr Hupert and Mr Hall both emphasised that they had no intentions of selling more of their holdings in the near term. "Anthony and I are as committed and involved in the business as we were when we founded Pro Medicus 23 years ago," Dr Hupert said.

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