Ergomed plc Issue of Shares to Former PharmInvent Shareholders (4782E)
08 May 2017 - 9:00PM
UK Regulatory
TIDMERGO
RNS Number : 4782E
Ergomed plc
08 May 2017
PRESS RELEASE
FOR IMMEDIATE RELEASE
8 MAY 2017
Ergomed Issues First Earn-Out Shares to Former Shareholders of
PharmInvent
London, UK - 8 May 2017: Ergomed plc (LSE: ERGO) ('Ergomed' or
'the Company'), a company dedicated to the provision of specialised
services to the pharmaceutical industry and the development of new
drugs, today announces that the conditions for the issue of 94,618
additional new ordinary shares of 1p each in the Company to former
shareholders of European PharmInvent Services s.r.o.
("PharmInvent") have been satisfied ("First Earn-Out Shares").
Ergomed has approved the allotment and issue of the First
Earn-Out Shares as part of the contingent consideration for the
acquisition of PharmInvent, announced on 29 November 2016. Under
the terms of this deal, Ergomed acquired 100 per cent of the issued
share capital of PharmInvent for an initial consideration of EUR4.8
million (GBP4.1 million), with contingent consideration based on
the achievement of EBITDA targets for 2016, 2017 and 2018 of up to
an aggregate further EUR3.2 million (GBP2.7 million). The initial
and contingent consideration (earn-out) are both satisfied 80% in
cash and 20% in new Ergomed ordinary shares.
An application has been made for the admission to trading on AIM
of the First Earn Out Shares ("Admission"). Admission is expected
to take place on 11 May 2017. The First Earn Out Shares will rank
pari passu in all respects with Ergomed's existing shares in issue.
Following Admission, the Company's enlarged issued share capital
will comprise 40,599,424 Ordinary Shares with one voting right per
share. No shares are held in Treasury. The total number of voting
rights in the Company is therefore 40,599,424. This figure of
40,599,424 ordinary shares may be used by shareholders in the
Company as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a
change to their interest in, the share capital of the Company under
the FCA's Disclosure and Transparency Rules.
Enquiries:
Ergomed plc Tel: +44 (0) 1483
503205
Miroslav Reljanovic (Chief
Executive Officer)
Stephen Stamp (Chief Financial
Officer)
Numis Securities Limited Tel: +44 (0) 20
7260 1000
Michael Meade / Freddie Barnfield
(Nominated Adviser)
James Black (Joint Broker)
Stifel Nicolaus Europe Limited Tel: +44 (0) 20
7710 7600
Jonathan Senior (Joint Broker)
FTI Consulting - for UK enquiries Tel: +44 (0) 20
3727 1000
Simon Conway / Mo Noonan /
Natalie Garland-Collins
MC-Services - for Continental Tel: +49 211 5292
European enquiries 5222
Anne Hennecke
About Ergomed
Ergomed plc is a profitable UK-based business providing drug
development services to the pharmaceutical industry and has a
growing portfolio of co-development partnerships. It operates in
over 50 countries.
Ergomed provides clinical development, trial management and
pharmacovigilance services to over 100 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. Lastly,
Ergomed acquired a pipeline of proprietary development products for
the treatment of surgical bleeding. For further information, visit:
http://ergomedplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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