Ergomed logo

ERGO - Ergomed News Story

685p -5.0  -0.7%

Last Trade - 11:18am

Sector
Healthcare
Size
Small Cap
Market Cap £334.0m
Enterprise Value £325.2m
Revenue £68.3m
Position in Universe 625th / 1807

Ergomed plc - Issue of shares

Wed 4th July, 2018 11:11am
RNS Number : 5897T
Ergomed plc
04 July 2018
 

PRESS RELEASE

 

 

Ergomed Issues 2017 Further Consideration Shares to Former Shareholders of PSR Group BV

 

London, UK - 4 July 2018: Ergomed plc, (LSE:ERGO) ("Ergomed" or the "Company")  a company focused on providing specialised services to the pharmaceutical industry, today announces that the conditions for the issue of 345 additional new ordinary shares of 1p each in the Company to former shareholders of PSR Group BV have been satisfied ("2017 Further Consideration Shares").

 

Ergomed has approved the allotment and issue of the 2017 Further Consideration Shares as part of the contingent consideration for the acquisition of PSR, announced on 28 September 2017. Under the terms of this deal, Ergomed acquired 100 per cent of the issued share capital of PSR for consideration of up to €5.7 million (£5.0 million), including contingent consideration based on the achievement of EBITDA targets for 2017, 2018 and 2019 of up to an aggregate further €2.6 million (£2.2 million). The contingent consideration (earn-out) is satisfied 80% in cash and 20% in new Ergomed Ordinary Shares.

 

Application has been made to the London Stock Exchange for 345 Ordinary Shares to be admitted to trading on AIM ('Admission').  It is expected that Admission will occur at 8:00 a.m. on 9 July 2018. The Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.

 

Following Admission, the Company's enlarged issued share capital and total number of voting rights will be 44,858,947 Ordinary Shares.

 

ENDS

 

Enquiries:

 

Ergomed plc

Tel: +44 (0) 1483 503 205

Stephen Stamp (Chief Executive Officer)




Numis Securities Limited

Tel: +44 (0) 20 7260 1000

Michael Meade / Freddie Barnfield (Nominated Adviser)


James Black (Joint Broker)




N+1 Singer

Tel: +44 (0) 20 7496 3000

Aubrey Powell (Joint Broker)




Consilium Strategic Communications - for UK enquiries

Tel: +44 (0) 20 3709 5700

Chris Gardner / Mary-Jane Elliott

Ivar Milligan / Olivia Manser

ergomed@consilium-comms.com



MC Services - for Continental European enquiries

Tel: +49 211 5292 5222

Anne Hennecke


 

About Ergomed plc

Ergomed provides specialist services to the pharmaceutical industry spanning all phases of clinical development, post-approval pharmacovigilance and medical information. Ergomed's fast-growing, profitable services offering encompasses a complete suite of specialist pharmacovigilance solutions, integrated under the PrimeVigilance brand, in addition to a full range of high quality contract research and trial management services (CRO). Leveraging its CRO expertise, Ergomed also has a drug development portfolio of co-development partnerships and wholly-owned programmes. For further information, visit: http://ergomedplc.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
 
 
IOEGMGGNGDVGRZM
© Stockopedia 2020, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.