Share Name Share Symbol Market Type Share ISIN Share Description
Ritchey LSE:RITP London Ordinary Share GB0032350695 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 55.00p 0.00p 0.00p - - - 0 06:39:46
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - - 0.00

Ritchey Share Discussion Threads

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DIRECTORS' SHAREHOLDINGS Immediately after Admission the following Directors will be interested in the issued Ordinary Share capital of the Company. Percentage Number of of Issued Ordinary Ordinary Name Shares Share Capital J S Lambert 803,373 4.07 S F Riddell 732,727 3.71 S Hall 151,780 0.77 G C Rhodes 696,500 3.53 N Downshire 1,461,809 7.40 S Wildridge 444,000 2.25 TOTAL 4,290,189 21.73 AIM RULE 26 The Company's website, the content of which complies with AIM Rule 26, is at
1st dealings on AIM RNS Number:7597L Ritchey PLC 15 January 2008 For release: 0800hrs 15 January 2008 Ritchey plc ("Ritchey" or the "Company") First day's dealings on AIM Ritchey plc ("Ritchey"), announces that dealings in its shares commence on AIM today (EPIC code: "ANCR"). This follows completion of the acquisition of Animalcare Limited ("the Acquisition"), a wholly owned subsidiary of Genus Animal Health Limited (a member of the Genus plc group), for a total consideration of up to £14 million; a placing of 13,632,000 new ordinary shares at 55 pence per share to raise approximately £6.4 million net of expenses ("the Placing");; and the decision to move from PLUS Market to AIM. At the EGM of the Company held on 11 January 2008, shareholders approved the change of name of the Company to Animalcare Group plc. It is now expected that this name change will be effected at Companies House within the next few days. The balance of the total consideration for the Acquisition, after applying the proceeds of the Placing, has been funded out of £8.2 million of new bank facilities. The total consideration for the Acquisition will comprise an initial cash payment of £13.4 million and deferred cash consideration of up to £600,000. The deferred consideration relates to a new product currently in development and payment of it is contingent upon Animalcare securing a manufacturing contract for the product; and manufacturing the first batch of the product. This payment will fall due between 31 January and 31 May 2008. James Lambert, Simon Riddell, Nick Downshire and Stephen Wildridge, all Directors of Ritchey, participated in the Placing, together investing a total of approximately £1 million in the Company. Details of their holdings after the placing, and those of other Directors, are given below. Simon Riddell, Chief Executive of Ritchey, commented: "The enlarged group commands strong positions in niche areas supplying both the livestock and companion animal markets, and offering excellent growth opportunities. We have ambitious plans which include increasing sales through our established customer base and distribution network, broadening our product range, entering new markets and selectively making acquisitions." CONTACTS Ritchey plc James Lambert (Chairman) 07850 702042 Simon Riddell (Chief Executive) 01765 689541 Brewin Dolphin (NOMAD and Broker) Neil Baldwin 0845 270 8610 Bankside Consultants (Financial PR) 020 7367 8888 Simon Bloomfield or Andy Harris INFORMATION ON THE EXISTING RITCHEY BUSINESS Business overview Ritchey's core business is the supply of premium quality livestock products to agricultural retailers for onward sale to farmers. The Group's main product is livestock identification ear tags used on cattle and sheep which are necessary to comply with EU requirements. Other products include products for calving, lambing and farrowing, footcare and handling, a range of grooming products for sheep and cattle, and equine, veterinary, pet and hygiene products. A substantial proportion of the Group's products are bought in from a variety of suppliers though the tags are largely manufactured in house. Ritchey uses a partnership approach to the agricultural supply industry. Emphasis is placed on co-operation with its customers facilitated by regular visits and an experienced customer services team that is available to answer both product and legislative queries. The Directors consider that it is this partnership approach, along with its in-house expertise and liaison with external expertise which has secured the sound reputation of the Ritchey brand. The business currently sells to about 1,000 customers with around 75 of these regarded as major accounts comprising large agricultural retailers such as Wynnstay Limited, Farmway Limited and Mole Valley Farmers. In addition Fearing, acquired in 2001, supplies a range of agricultural products directly to about 10,000 farmers. History and Development The business of Ritchey was established in the early 1970's to distribute cattle ear tags in the UK for use in livestock management. Non-tag products were added to its portfolio over the next 20 years. Following the outbreak of BSE In the 1990's the obligatory tagging of cattle for the purpose of providing traceability of livestock movement was introduced in the UK. In future years, further legislative changes extended the tagging regime to other species thereby providing favourable trading conditions for Ritchey. In recent years, the Group has made several acquisitions to broaden its product offering and in December 2002 the Company joined OFEX (now Plus Markets). These acquisitions included: * Fearing Limited (acquired July 2001): a mail order business selling cattle tags and related products; * Brookwick Ward & Co Limited (acquired July 2002): equine health and grooming products; * Petcode Business (acquired November 2003): a distributor of identification chips to vets, and animal charities; and * Travik Limited (acquired March 2006): a contract manufacturer of liquid cleaning products, such as vehicle grime remover, to commercial customers including Halfords. Although the Group had previously enjoyed high margins and strong market share, in recent years Ritchey has been faced with a number of challenges in its markets including increased competition resulting in pressure on margins. The Company suffered declining financial performance from 2002 through 2006. Additionally the Company was hampered by historic underinvestment in Ritchey's existing operating management systems. The management team was significantly strengthened by the appointment of Simon Riddell as Managing Director in July 2005 and James Lambert as Chairman in October 2005. A strategic review was undertaken which identified the need to improve the performance of the Company in areas such as product offering and quality, customer service, management processes, overheads and the marketing of the Ritchey and Fearing brands. The new management team is now well established, and the operational changes are beginning to deliver significant benefits. The year ended 30 June 2007 showed an improved financial performance with the Company generating earnings before exceptional items and goodwill impairment of £556,000 (£449,000). Products and services Identification tags The Group's largest business category by sales is the supply of identification tags primarily for cattle and sheep. EU regulations require that all livestock are identified with a unique reference number provided by the local agricultural department, e.g. DEFRA for England. The reference number for cattle and sheep is marked on an identification tag whilst for pigs the mark can be applied directly to the animal. Livestock cannot enter the food chain without the correct identification. Latest DEFRA estimates indicate there are 10.3 million cattle and 33.6 million sheep in the UK. Based on data supplied by DEFRA, the Directors believe that Ritchey has a market share of approximately 20 percent providing significant growth opportunities for the Group. Ritchey also supplies other identification products, primarily for Health & Safety and asset management purposes, to commercial customers such as Fire & Rescue Services. The Directors consider that this area of business has cnsiderable growth potential.
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