REG - Ergomed plc - Issue of shares

ErgomedAnnouncement

04/07/2018 11:15

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




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