Completion of Acquisition

RNS Number : 5753J

Science in Sport PLC

06 December 2018

 

6 December 2018

SCIENCE IN SPORT PLC

("SiS" or the "Company")

Completion of Acquisition

Further to its announcement on 14 November 2018, Science in Sport plc (AIM: SIS), a UK-headquartered market leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts, is pleased to announce that it has successfully completed the acquisition of PhD Nutrition Ltd, a premium, innovation-led protein brand. 

Following admission of the 5,833,334 Consideration Shares to trading earlier today, the Company's total issued share capital consists of 121,967,803 Ordinary Shares, of which none are held in treasury. The figure of 121,967,803 may therefore be used by shareholders 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 Group, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Definitions used in this announcement are the same as those used in the announcement released by the Company on 14 November 2018.

Commenting on the Acquisition, Stephen Moon, Chief Executive of SiS, said:

"This is a transformational deal for our business. It immediately doubles our size and accelerates our ambition to become a global leader in premium performance nutrition. SIS and PhD are two businesses that have complementary brands, products, operations and sales channels which together create a well-balanced, cash generative company with enhanced potential. We look forward to working with our new colleagues and delivering value to our shareholders who have supported us in delivering this significant deal."

For further information:

Science in Sport PLC	[phone]
Stephen Moon, CEO
Elizabeth Lake, CFO
Liberum Capital Limited - NOMAD and Broker	[phone]
Clayton Bush
Chris Clarke
James Greenwood
William Hall
Instinctif Partners	[phone]
Matthew Smallwood
Tom Berger

Notes for editors

About Science in Sport plc

Science in Sport plc is a leading sports nutrition company that develops, manufactures and markets sports nutrition products for professional athletes and sports enthusiasts. SiS is a strong brand in the elite athlete community - in the 2016 Rio Olympics, 34 medal-winning athletes or teams used SiS products.

The SiS core product ranges include: SiS GO, comprising energy powders, isotonic gels, energy bars, hydration tablets and shots; SiS REGO, including protein-based recovery powders; SiS Protein, products specifically designed to contribute to athletes' lean muscle mass growth and maintenance; SiS Supplements, comprising BCAA Perform, Creatine, Beta Alanine and L Glutamine; SiS Athlete Health, vitamins and supplements range designed to support and maintain immune function, digestive health and bone health. SiS products are sold in a range of retail channels, including specialist sport retailers, major grocers, high street retailers and e-commerce websites.

SiS is currently the official sports nutrition supplier to professional cycling organisations Team SKY, British Cycling, Cycling Australia, and USA Cycling. SiS is also a partner to British Triathlon and Rock n Roll Marathon Series. Along with supplying over 70 professional English & Scottish League football teams, SiS Sports Nutrition is the partner to the world's most popular football club, Manchester United FC. In addition, Olympians Sir Chris Hoy MBE, Mark Cavendish MBE and Adam Peaty MBE are Brand Ambassadors.

SiS was founded in 1992 and is headquartered in Hatton Garden, London. Its manufacturing facility is in Nelson, Lancashire.

SiS shares are traded on the AIM market of the London Stock Exchange under the ticker symbol SIS.

About PhD

PhD is a UK-headquartered premium protein brand. Since being founded by Jason Rickaby and Mark Bowering in 2005, PhD has developed into one of the UK's leading protein brands with a reputation for high quality and innovative products aimed at sports enthusiasts and gym lifestyle consumers.

It has c.24 employees and an experienced management team that has a track record of delivering consistent revenue growth and profitability. For the year ended August 2018, PhD reported revenues of £20.8 million and adjusted EBITDA of £2.8 million.

 

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