Ergomed plc Earn-Out Shares and PDMR Dealing (9782V)

TIDMERGO

RNS Number : 9782V

Ergomed plc

12 April 2019

Ergomed Issues Earn-Out Shares to Former Shareholders of PharmInvent and PDMR Dealing

Guildford, UK - 12 April 2019: Ergomed plc (LSE: ERGO) ("Ergomed" or the "Company"), a company focused on providing specialised services to the pharmaceutical industry, today announces the issue of 158,810 new ordinary shares of 1p each in the Company ("Earn-Out Shares") to former shareholders of European PharmInvent Services s.r.o. ("PharmInvent") (now named PrimeVigilance s.r.o.).

The Board of Ergomed has approved the allotment and issue of the Earn-Out Shares as part of the final payment of 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. The Earn-Out Shares will be issued at a price of 152.975 pence per share.

Dr Jan Petracek, Chief Operating Officer of the Company, will receive 79,405 new ordinary shares at a price of 152.975 pence per share as part of the issue of the Earn-Out Shares. Following the issue of the Earn-Out Shares, Dr Petracek will hold 497,411 ordinary shares in the capital of the Company (representing 1.07 per cent. of the Company's issued share capital).

An application has been made for the admission to trading on AIM of the Earn-Out Shares ("Admission"). Admission is expected to take place on 16 April 2019. The Earn-Out Shares will rank pari passu in all respects with Ergomed's existing shares in issue. Following Admission, the Company's enlarged issue share capital will comprise 46,320,248 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 46,320,248. The figure of 46,320,248 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.

The notification below, made in accordance with the requirements of the EU Market Abuse Regulation, provides further detail.

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them.

 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                                     Dr Jan Petracek 
      ---------------------------------------  ------------------------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------------------------------ 
 a)    Position/status                          Chief Operating Officer 
      ---------------------------------------  ------------------------------------------------------- 
 b)    Initial notification                     Initial Notification 
        /Amendment 
      ---------------------------------------  ------------------------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer or auction monitor 
      ------------------------------------------------------------------------------------------------ 
 a)    Name                                     Ergomed plc 
      ---------------------------------------  ------------------------------------------------------- 
 b)    Legal Entity                             213800BVS8I9VMC1AP84 
        Identifier 
      ---------------------------------------  ------------------------------------------------------- 
 4     Details of the transaction(s): section to be repeated for 
        (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------------------------------ 
 a)    Description                              Ordinary shares of 1 pence each 
        of the financial 
        instrument, 
        type of instrument                       GB00BN7ZCY67 
 
        Identification 
        code 
      ---------------------------------------  ------------------------------------------------------- 
 b)    Nature of the                            Acquisition of shares in relation to earn-out 
        transaction                              payment for the acquisition of European PharmInvent 
                                                 Services s.r.o. 
      ---------------------------------------  ------------------------------------------------------- 
 c)    Currency                                 GBP 
      ---------------------------------------  ------------------------------------------------------- 
 d)    Price(s) and                             Price(s)                    Volume(s) 
        volume(s) 
      ---------------------------------------  --------------------------  --------------------------- 
                                                152.975p                    79,405 
 --------------------------------------------  --------------------------  --------------------------- 
 
 e)    Aggregated information                   Volume: 79,405 
        - Aggregated                             Price: 152.975p 
        volume                                   Aggregated volume: GBP121,469.80 
        - Price 
        - Aggregated 
        total 
      ---------------------------------------  ------------------------------------------------------- 
 f)    Date of the                              Admission of the shares expected on 16 April 
        transaction                              2019 
      ---------------------------------------  ------------------------------------------------------- 
 g)    Place of the                             London Stock Exchange, AIM 
        transaction 
      ---------------------------------------  ------------------------------------------------------- 
 

Ends

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April 12, 2019 02:00 ET (06:00 GMT)