Regulatory press release

PMDS’ Largest Shareholder Requests EGM to Appoint New Non-Executive Directors Amid Management Changes

11th October 2024 – PMD Device Solutions (PMDS), a leading innovator in digital healthcare technology, today announces that its largest founding shareholder, Miman Ventures AB, has requested the Board of PMDS to convene an Extraordinary General Meeting (EGM) to appoint new Non-Executive Directors. This request follows recent management changes and forms part of a broader transition in the company's governance and operational structure.

Miman Ventures AB’s request reflects a proactive approach to ensuring robust governance during this period of change. The proposed appointments are expected to strengthen the strategic direction of PMDS, with a focus on securing strong leadership as the company continues its sales expansion and progresses towards profitability.

The company has recently seen the resignation of Magnus Christensen, Christer Ahlberg, and Anne Dorney. Anne, who has been an Executive Director, will also be retiring with immediate effect from her role as Chief Compliance Officer.

“Their contributions have been instrumental in steering PMDS through critical stages of its development, including its listing on NASDAQ First North Growth Market. PMDS extends its heartfelt gratitude for their service.” says Myles Murray CEO of PMDS.

In light of these departures, PMDS will actively engage in appointing new individuals who will support the company’s continued growth.

PMDS remains committed to ensuring a smooth transition during this time, as part of a broader restructuring effort aimed at positioning the company to meet its financial goals and beyond.

The appointments will be sought at an EGM scheduled for 29th October, with further details to be provided in due course and through a separate press release.

Information about PMDS

PMD Device Solutions AB develops and sells medical products for respiratory monitoring in both the hospital acute monitoring sector and the remote monitoring homecare sector. 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).