REG - Ergomed plc - Secondary Placing Of Ordinary Shares in Ergomed <Origin Href="QuoteRef">ERGO.L</Origin>

ErgomedAnnouncement

25/07/2015 09:38

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RNS Number : 5563T
Ergomed plc
20 July 2015 
 
Secondary Placing Of Ordinary Shares in Ergomed Plc 
 
Guildford, UK - 20 July 2015: Ergomed Plc ("Ergomed" or the "Company", AIM:
ERGO), a profitable UK-based company, dedicated to the provision of
specialised services to the pharmaceutical industry and the development of new
drugs, announces that it has been notified today by Dr Miroslav Reljanovic,
CEO and founder of Ergomed, that he has today sold a total of 3,958,020
ordinary shares in the Company ("the Placing Shares") on the London Stock
Exchange at a price of 170p per share, being a discount of 6.8 per cent to the
10 day weighted average price. 
 
The Placing Shares represent in aggregate approximately 13.8 per cent of the
total issued share capital of Ergomed. The Placing Shares were sold to new and
existing institutional investors via an accelerated bookbuild placing managed
by Stifel Nicolaus Europe Limited as bookrunner and broker and MC Services AG
as European Financial Consultant. 
 
In addition, Dr Reljanovic has agreed to grant an option over 176,470 ordinary
shares from his own holding to each of Neil Clark, Chief Financial Officer and
Andrew Mackie, Chief Business Officer (the "Executive Optionholders"). Half of
these shares under this option will be exercisable immediately and half will
be subject to a year vesting period. The exercise price will be £0.01. Upon
exercise of these options, Dr Reljanovic will transfer the relevant number of
shares from his own holding to the relevant Executive Optionholder. 
 
Following this disposal, Dr Reljanovic remains interested in 17,232,237
ordinary shares in Ergomed, representing approximately 59.9 per cent of
Ergomed's issued share capital. Notwithstanding the grant of options, the
352,940 ordinary shares over which he has granted options to Neil Clark and
Andrew Mackie remain in Dr Reljanovic's holding until exercise.  In addition,
Dr Reljanovic has agreed not to sell any further shares for a 12 month period
(subject to the usual exceptions) without the prior written consent of Stifel
Nicolaus Europe Limited (acting in its absolute discretion). The terms of this
lock up are substantively the same terms as the one he entered into at the IPO
of the Company. 
 
Following the grant of the option by Dr Reljanovic, Neil Clark is interested
in 91,912 ordinary shares in Ergomed, representing 0.3% of Ergomed's issued
share capital. Andrew Mackie holds no ordinary shares in Ergomed. 
 
Rolf Stahel, Chairman of Ergomed, commented: "Ergomed is pleased to broaden
the share register with support from existing shareholders as well as new,
high quality investors including a number of continental European investors.
It has always been Ergomed's intention to reduce Dr Reljanovic's founder
holding and thereby increase liquidity and broaden the institutional
shareholder base. Dr Reljanovic remains committed to leading delivery of the
Company's strategy and we are excited about the future potential in the
business." 
 
ENDS 
 
For further information, please contact: 
 
Hume Brophy 
 
Mary Clark, Supriya Mathur and Hollie Vile 
 
Tel: + 44 203 440 5654 
 
ergomed@humebrophy.com 
 
Stifel Nicolaus Europe Limited 
 
NOMAD/Broker to the Company 
 
Jonathan Senior, Giles Balleny 
 
Tel: + 44 207 710 7600 
 
About Ergomed 
 
Ergomed Plc is a profitable UK-based company, providing drug development
services to the pharmaceutical industry and has a growing portfolio of
co-development partnerships. It operates in over 40 countries. 
 
Ergomed provides clinical development, trial management and pharmacovigilance
services to over 60 clients ranging from top 10 pharmaceutical companies to
small and mid-sized drug development companies. Ergomed successfully manages
clinical development from Phase I through to late phase programmes. 
 
Ergomed has a wide therapeutic focus, with a particular expertise in oncology,
neurology and immunology and the development of orphan drugs. Ergomed believes
its approach to clinical trials is differentiated from that of other providers
by its innovative Study Site Management model and the use of Study Physician
Teams, resulting in a close relationship between Ergomed and the physicians
involved in clinical trials. 
 
As well as providing high quality clinical development services, Ergomed is
building a portfolio of co-development partnerships with pharma and biotech
companies which share the risks and rewards of drug development. Ergomed
leverages its expertise and services in return for carried interest in the
drugs under development. For further information, visit:
http://ergomedplc.com 
 
Forward Looking Statements 
 
Certain statements contained within the announcement are forward looking
statements and are based on current expectations, estimates and projections
about the potential returns of Ergomed plc ("Ergomed") and industry and
markets in which Ergomed operates, the Directors' beliefs and assumptions made
by the Directors. Words such as "expects", "anticipates", "should", "intends",
"plans", "believes", "seeks", "estimates", "projects", "pipeline" and
variations of such words and similar expressions are intended to identify such
forward looking statements and expectations. These statements are not
guarantees of future performance or the ability to identify and consummate
investments and involve certain risks, uncertainties, outcomes of negotiations
and due diligence and assumptions that are difficult to predict, qualify or
quantify. Therefore, actual outcomes and results may differ materially from
what is expressed in such forward looking statements or expectations. Among
the factors that could cause actual results to differ materially are: the
general economic climate, competition, interest rate levels, loss of key
personnel, the result of legal and commercial due diligence, the availability
of financing on acceptable terms and changes in the legal or regulatory
environment. 
 
These forward-looking statements speak only as of the date of this
announcement. Ergomed expressly disclaims any obligation or undertaking to
disseminate any updates or revisions to any forward-looking statements
contained herein to reflect any change in Ergomed's expectations with regard
thereto, any new information or any change in events, conditions or
circumstances on which any such statements are based, unless required to do so
by law or any appropriate regulatory authority. 
 
This information is provided by RNS
The company news service from the London Stock Exchange