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Share Name Share Symbol Market Type Share ISIN Share Description
ADAMS PLC NEX:ADA.GB NEX Ordinary Share IM00B986V543
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 8.00 6.00 10.00 8.00 8.00 8.00 0.00 07:57:02
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
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Adams PLC Investment

03/01/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 6196Y

Adams PLC

03 January 2020

Adams plc

("Adams" or the "Company")

Investment in Circassia Pharmaceuticals Plc ("Circassia")

The Directors announce that, on 2 January 2020, Adams purchased an additional 2,400,000 ordinary shares of GBP0.08 in Circassia on the AIM market of the London Stock Exchange at an average price of 19.0 pence per share for a total cash consideration of GBP456,229.

The Company's total holding in Circassia now amounts to 3,075,000 ordinary shares of GBP0.08 and represents 0.82% of the currently issued ordinary share capital of Circassia of 375,199,334 shares. Following this investment, the Company will have cash balances of approximately GBP1,020,000.

About Circassia

Circassia is a specialty commercial pharmaceutical company focused on respiratory disease which promotes innovative asthma management products, including the NIOX(R) asthma diagnosis and management products and the chronic obstructive pulmonary disease products Tudorza(R) and Duaklir(R), directly to specialist physicians in a number of key markets. Circassia is working to expand its portfolio further through in-licensing, partnering or acquisition.

Circassia's revenues amounted to GBP27.9 million for the six months ended 30 June 2019, which coupled with continued significant investment in development and marketing, resulted in an operating loss of GBP19.3 million for that period. Circassia held cash and cash equivalents of GBP21.0 million at 30 June 2019.

On 5 December 2019, Circassia reiterated the guidance given in its interim financial results for the six months ended 30 June 2019 and confirms that it anticipates achieving full year 2019 revenues of GBP60 million to GBP65 million (2018: GBP48.3 million) with a dramatically reduced net cash outflow in the second half of 2019 compared with the 2019 first half.

Further information on Circassia is available on the Circassia website www.circassia.com.

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

 
Adams plc 
Mike Bretherton                       Tel: +44 1534 719 761 
 
 
Nomad 
Cairn Financial Advisers LLP 
Sandy Jamieson, James Caithie         Tel: +44 207 213 0880 
 
 
Broker 
Peterhouse Corporate Finance Limited 
Lucy Williams, Duncan Vasey           Tel: +44 207 469 0930 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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January 03, 2020 02:00 ET (07:00 GMT)

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