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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ricardo Plc | LSE:RCDO | London | Ordinary Share | GB0007370074 | ORD 25P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
8.00 | 1.70% | 478.00 | 471.00 | 478.00 | 478.00 | 470.00 | 470.00 | 9,716 | 12:50:09 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Motor Vehicle Part,accessory | 446M | -5.4M | -0.0868 | -55.07 | 297.4M |
TIDMRCDO
RNS Number : 8593D
Ricardo PLC
01 July 2019
1 July 2019
Ricardo plc
("Ricardo" or the "Group")
RICARDO EXPANDS ENERGY & ENVIRONMENT BUSINESS IN AUSTRALIA
Ricardo plc ("Ricardo"), a global engineering, technical, strategic and environmental consultancy business, announces today that it has signed a share purchase deed to acquire the entire share capital of PLC Consulting Pty Ltd ("PLC Consulting" or the "Company"), an environment, planning and infrastructure advisory consultancy which is headquartered in Melbourne, Australia.
The total maximum consideration is AUD9.64 million (GBP5.36m), subject to any adjustment to reflect net cash balances and normalised levels of working capital at the date of completion. The consideration will be paid in cash, with part paid in instalments over three years, subject to the achievement of agreed financial targets and retention of key management.
The acquisition is expected to be completed on 31 July 2019.
PLC Consulting has a strong technical advisory capability across the project life-cycle in infrastructure, environment and planning, including supporting the environmental requirements of master-planning, business cases, procurement, design, construction and operation. The services offered by the Company complement and extend Ricardo's existing energy and environment capabilities within the growing Australian market.
Founder and Director of PLC Consulting Deane Ellwood will continue to lead the business together with the Company's twenty-one employees. From the date of completion, the Company will operate as part of Ricardo's Energy & Environment business.
Dave Shemmans, Chief Executive Officer of Ricardo plc, said:
"I am delighted to be able to announce the signing of the share purchase deed with PLC Consulting and look forward to welcoming Deane Ellwood and his team into Ricardo.
"I am passionate about the work our energy and environment experts deliver in helping to mitigate the worsening impacts of climate change, the reduction of waste and the conservation of the world's scarce resources. This exciting acquisition will also help Ricardo to continue to grow our environmental services in Australia."
Note: An exchange rate of 1.80 has been used throughout this announcement
Further enquiries
Ricardo plc Tel: 01273 455611 Dave Shemmans, Chief Executive Website: www.ricardo.com Officer Ian Gibson, Chief Financial Officer Newgate Communications Tel: 020 7680 6550 Adam Lloyd / Ian Silvera ricardo@newgatecomms.com
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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(END) Dow Jones Newswires
July 01, 2019 02:00 ET (06:00 GMT)
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