REG - Science Group PLC Ricardo PLC - Increased Shareholding in Ricardo plc

ScienceAnnouncement

10/03/2025 13:45

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RNS Number : 0496A  Science Group PLC  10 March 2025

 

10 March 2025

 

Science Group plc

(the "Group" or "Science Group")

 

Increased Shareholding in Ricardo plc

 

Science Group has further increased its shareholding in Ricardo plc
("Ricardo") to 7,471,896 shares, equivalent to approximately 12.0% of the
voting rights. Science Group may or may not increase its shareholding in
Ricardo.

 

Ricardo is a British science and technology company with a brand heritage
extending over 100 years. The trading update on 30 January 2025 downgraded
earnings expectations at a time when net debt was already forecast by research
analysts to increase. The Ricardo interim results (released on 5 March 2025)
were broadly consistent with the January trading update, although the cash
conversion was lower than expected.

 

As a result, Ricardo's share price continues to trade around the lowest levels
in over a decade and a material change in the Ricardo shareholder base has
occurred in recent weeks. It is apparent that a review of the Ricardo strategy
is required to realign corporate aspiration with shareholder value creation.
 Science Group has a track record of delivering shareholder value from
science, technology and engineering consultancy/systems businesses and has
been in active dialogue with Ricardo consistent with managing its strategic
investment.

 

The strategic investment in Ricardo represents a substantial transaction under
rule 12 of the AIM Rules for Companies ("AIM Rules") and the following
disclosure is made in accordance with Schedule Four of the AIM Rules. Ricardo
reported profit before tax for the year ended 30 June 2024 of £4.3 million
and gross assets of £428.8 million.

 

 

 

- Ends -

 For further information:

Science Group plc

 Martyn Ratcliffe, Executive Chair                                                                                                                                                                                                   Tel: +44 (0) 1223 875 200

 Jon Brett, Finance Director                                                                                                                                                                                                         www.sciencegroup.com

 (https://protect.checkpoint.com/v2/r06/___http:/www.sciencegroup.com___.ZXV3MjpuZXh0MTU6YzpvOjU0ZGI5YzMxZTIyYWRjYjNiNDllZDg0YzAwYjdlYTg0Ojc6ODkyNTpiMmM0ZGYxMGZmNjg5OGUzNTZjZDliYzcxZTZjOWMxY2YxNDJiNjliNzg1Y2E2ZjdiNWUyNWIxMTE3NTdkMjgzOnA6VDpU)

 Canaccord Genuity Limited (Nominated Adviser and Joint Broker)

 Simon Bridges, Andrew Potts                                                                                                                                                                                                         Tel: +44 (0) 20 7523 8000

 MHP

 Reg                                                                                                                                                                                                                                 Tel: +44 (0) 7831 406117

 Hoare

 

 

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