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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Res.Phm.Reg S | LSE:RPSE | London | Ordinary Share | COM SHS USD0.0001(REG S) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMRPSE RNS Number : 3446V Research Pharmaceutical SRV, Inc 08 July 2009 July 8, 2009 ReSearch Pharmaceutical Services, Inc. ("RPS") RPS Announces Completion of Acquisition of Paramax International Inc. and Expansion of RPS' Global Capabilities into China ("Paramax") Further to the announcement made on March 30, 2009, RPS is pleased to announce that, following satisfaction of the closing conditions, it has today completed the acquisition of Paramax. The acquisition of Paramax provides the company with expanded capabilities in the Asian market and complements its current operations in the Americas and Europe. The continued global expansion of RPS gives the Company greater scale to meet the growing needs of its customers in the rapidly expanding market for global clinical development and integrated clinical research services. Paramax has headquarters in Beijing, China and will serve as the Company's Asian base of operations as it continues its planned expansion across Asia. As part of the consideration, RPS issued 530,973 shares of common stock, par value 0.0001 per share. These shares will be held in escrow and released in three equal portions on October 7, 2009, July 7, 2010 and January 7, 2011 (being the three month, 12 month and 18 month anniversaries of completion) subject among other things to there being no claims for indemnification then outstanding. Any shares not released from escrow to Paramax's shareholder will be returned to RPS for cancellation or to be held in treasury. Application will be made later today for the admission of these shares to trading on AIM ("Admission") and dealings in the new shares are expected to commence on July 14, 2009. The new shares shall, upon issuance, rank pari passu with RPS' existing issued shares. Following Admission, RPS will have outstanding 37,277,808 Shares and 1,357,179 Warrants (as defined in the Company's Readmission Document dated June 5, 2007)(1). (1) These shares exclude the remaining 186,667 Unit Purchase Options and approximately 2.9 million employee stock options which also remain outstanding. For further information please contact: ReSearch Pharmaceutical Services, Inc. +1 215 540 0700 Dan Perlman, Chief Executive Officer Steven Bell, Chief Financial Officer Nominated Adviser and UK Broker +44 20 7012 2000 Arbuthnot Securities Limited James Steel / Ed Burbidge About RPS RPS was incorporated in Delaware on January 30, 2006, while its subsidiary and operating company, ReSearch Pharmaceutical Services, LLC, and its predecessors have been in existence since 1994. Headquartered in Ft. Washington, Pennsylvania, with subsidiary offices across Latin America, Europe and now China, RPS is a next generation CRO and a leading provider of integrated clinical development outsourcing solutions to the bio-pharmaceutical industry. RPS provides services in connection with the design, initiation and management of clinical trials programs that are required to obtain regulatory approval to market bio-pharmaceutical products. RPS' innovative business model combines the expertise of a traditional CRO with the ability to provide flexible outsourcing solutions that are fully integrated within RPS' clients' clinical drug development infrastructure. This approach was designed to meet the varied needs of small, medium and large bio-pharmaceutical companies. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS This document contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipates", "intends", "plans", "seeks", "believes", "estimates", "expects" and similar references to future periods, or by the inclusion of forecasts or projections. Forward-looking statements are based on the Company's current expectations and assumptions regarding its business, financial condition, the economy and other future conditions. Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. The Company's actual results may differ materially from those contemplated by the forward-looking statements. The Company cautions you therefore that you should not rely on any of these forward-looking statements as statements of historical fact or as guarantees or assurances of future performance. Important factors that could cause actual results to differ materially from those in the forward-looking statements include our ability to successfully consummate acquisitions, our ability to successfully integrate acquired companies; regional, national or global political, economic, business, competitive, market and regulatory conditions including: our ability to identify liabilities associated with RPS; our ability to manage pricing and operational risks; our ability to manage foreign operations; changes in technology; and our ability to acquire or renew contracts. Any forward-looking statement made in this document speaks only as of the date on which it is made. Factors or events that could cause the Company's actual results to differ may emerge from time to time, and it is not possible for the Company to predict all of them. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, unless otherwise required to do so by law or regulation. This information is provided by RNS The company news service from the London Stock Exchange END ACQRPMTTMMIMBAL
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