AGM Statement

RNS Number : 7765W

RWS Holdings PLC

14 February 2017

 

RWS GROUP

                                                                                                                                 14 February 2017

RWS Holdings plc

AGM Statement

RWS Holdings plc ("RWS", "the Group"), a world leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), commercial translations and linguistic validation, is today holding its Annual General Meeting at which Andrew Brode, Chairman, will make the following remarks:

"The financial year ended 30 September 2016 saw the thirteenth successive year of growth in Group sales, underlying profits and dividends since its admission to the AIM market of the London Stock Exchange in 2003.

"Since then, the Group has traded strongly with underlying growth bolstered by favourable currency movements.  We are achieving meaningful new client wins in both of our core activities, intellectual property and Life Sciences and increased levels of business from a number of our established clients.  As a result, profits for the first quarter were comfortably ahead of management's expectations.

Acquisition

"In a separate RNS announcement this morning, RWS announced the proposed acquisition of 100% of the issued share capital of LUZ, Inc., a leading Life Sciences translation business based in San Francisco, and with operating units in Broomfield, Boston and Lausanne.  The cash consideration is US$82.5M, funded by a share placing to raise proceeds of £40.0M, an additional term loan from Barclays Bank plc (US$26.3M) and internal cash resources.

Summary and Outlook

"The Board remains highly encouraged by the Group's opportunities to continue to grow significantly and profitably across its ever broader portfolio of market leading businesses, especially in its Life Sciences activities in the USA.

"We have a strong balance sheet and an interesting flow of acquisition opportunities in our chosen specialist niches and look forward to further significant progress."

For further information, contact:

RWS Holdings plc

Andrew Brode, Chairman                                                                                                  01753 480200

MHP

Katie Hunt / Simon Hockridge                                                                                          0203 128 8100

Numis

Stuart Skinner / Kevin Cruickshank (Nominated Adviser)                                                     0207 260 1000

Michael Burke (Corporate Broker)

This announcement contains inside information which is disclosed in accordance with the Market Abuse Regulation which came into effect on 3 July 2016.

About RWS:

RWS is a world leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), a market leader in Life Sciences translations and linguistic validation as well as a high level specialist language service provider in other technical areas, providing for the diverse needs of a blue-chip multinational client base from Europe, North America and Asia.  RWS is based in the UK, with offices in Europe, the USA, (New York, East Hartford and Chicago), China, Japan and Australia, and is listed on AIM, the London Stock Exchange regulated market (RWS.L).

For further information, please visit: www.rws.com

 

END

 

 

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