Performance Shares Following the achievement of milestones set...

Performance Shares

Following the achievement of milestones set out in the Company’s Prospectus all 195,000,000 A Class (or Founder) Performance Shares have been converted to Ordinary Shares. These shares remain restricted securities until 1 December 2017. Of the 195,000,000 A Class Performance Shares converted, 170,000,000 were issued to associates entities of founders and management, all of whom have opted to voluntarily escrow their shares for an additional 12 months to 1 December 2018, indicating the strong commitment and support behind the business. Furthermore, of the 296,800,073 Ordinary Shares issued to the founders at the time of listing, which remain restricted securities until 1 December 2017, 208,629,167 (approximately 70%) will be voluntarily escrowed for a further 12 month period to 1 December 2018. The remaining 88,170,906 of these ordinary shares will be released from escrow on 1 December 2017.

HealthNotes Vendor Shares subject to voluntary escrow

As part of the Healthnotes acquisition completed in October 2016, a total of 57,894,737 shares were issued as consideration. Of these shares, 28,947,371 are due to be released from voluntary escrow on 28 October 2017. The founders of Healthnotes, Mr Saurabh Mishra and Mr Ashley Falting, received 28,947,375 shares in the transaction, of which 14,473,688 are due for release from voluntary escrow on 28 October 2017. These shareholders have since joined the MedAdvisor management team and remain focused and committed to growing the business and have opted to extend the voluntary escrow arrangements for all of their shares for a further 12 months to 28 October 2018.

This is a great sign of confidence for 2018. Recipients of these shares could have 'taken the money and run', instead voluntarily choosing to escrow shares for 12 months.