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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ergomed Plc | LSE:ERGO | London | Ordinary Share | GB00BN7ZCY67 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1,346.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMERGO
RNS Number : 4782E
Ergomed plc
08 May 2017
PRESS RELEASE
FOR IMMEDIATE RELEASE
8 MAY 2017
Ergomed Issues First Earn-Out Shares to Former Shareholders of PharmInvent
London, UK - 8 May 2017: Ergomed plc (LSE: ERGO) ('Ergomed' or 'the Company'), a company dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, today announces that the conditions for the issue of 94,618 additional new ordinary shares of 1p each in the Company to former shareholders of European PharmInvent Services s.r.o. ("PharmInvent") have been satisfied ("First Earn-Out Shares").
Ergomed has approved the allotment and issue of the First Earn-Out Shares as part of the contingent consideration for the acquisition of PharmInvent, announced on 29 November 2016. Under the terms of this deal, Ergomed acquired 100 per cent of the issued share capital of PharmInvent for an initial consideration of EUR4.8 million (GBP4.1 million), with contingent consideration based on the achievement of EBITDA targets for 2016, 2017 and 2018 of up to an aggregate further EUR3.2 million (GBP2.7 million). The initial and contingent consideration (earn-out) are both satisfied 80% in cash and 20% in new Ergomed ordinary shares.
An application has been made for the admission to trading on AIM of the First Earn Out Shares ("Admission"). Admission is expected to take place on 11 May 2017. The First Earn Out Shares will rank pari passu in all respects with Ergomed's existing shares in issue. Following Admission, the Company's enlarged issued share capital will comprise 40,599,424 Ordinary Shares with one voting right per share. No shares are held in Treasury. The total number of voting rights in the Company is therefore 40,599,424. This figure of 40,599,424 ordinary shares may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Enquiries:
Ergomed plc Tel: +44 (0) 1483 503205 Miroslav Reljanovic (Chief Executive Officer) Stephen Stamp (Chief Financial Officer) Numis Securities Limited Tel: +44 (0) 20 7260 1000 Michael Meade / Freddie Barnfield (Nominated Adviser) James Black (Joint Broker) Stifel Nicolaus Europe Limited Tel: +44 (0) 20 7710 7600 Jonathan Senior (Joint Broker) FTI Consulting - for UK enquiries Tel: +44 (0) 20 3727 1000 Simon Conway / Mo Noonan / Natalie Garland-Collins MC-Services - for Continental Tel: +49 211 5292 European enquiries 5222 Anne Hennecke
About Ergomed
Ergomed plc is a profitable UK-based business providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 50 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 100 clients ranging from top 10 pharmaceutical companies to small and mid-sized drug development companies. Ergomed successfully manages clinical development from Phase I through to late phase programmes.
Ergomed has a wide therapeutic focus, with a particular expertise in oncology, neurology and immunology and the development of orphan drugs. Ergomed believes its approach to clinical trials is differentiated from that of other providers by its innovative Study Site Management model and the use of Study Physician Teams, resulting in a close relationship between Ergomed and the physicians involved in clinical trials.
As well as providing high quality clinical development services, Ergomed is building a portfolio of co-development partnerships with pharma and biotech companies which share the risks and rewards of drug development. Ergomed leverages its expertise and services in return for carried interest in the drugs under development. Lastly, Ergomed acquired a pipeline of proprietary development products for the treatment of surgical bleeding. For further information, visit: http://ergomedplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
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(END) Dow Jones Newswires
May 08, 2017 07:00 ET (11:00 GMT)
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