Issue of shares

RNS Number : 5897T

Ergomed plc

04 July 2018

 

PRESS RELEASE

Ergomed Issues 2017 Further Consideration Shares to Former Shareholders of PSR Group BV

London, UK - 4 July 2018: Ergomed plc, (LSE:ERGO) ("Ergomed" or the "Company")  a company focused on providing specialised services to the pharmaceutical industry, today announces that the conditions for the issue of 345 additional new ordinary shares of 1p each in the Company to former shareholders of PSR Group BV have been satisfied ("2017 Further Consideration Shares").

Ergomed has approved the allotment and issue of the 2017 Further Consideration Shares as part of the contingent consideration for the acquisition of PSR, announced on 28 September 2017. Under the terms of this deal, Ergomed acquired 100 per cent of the issued share capital of PSR for consideration of up to €5.7 million (£5.0 million), including contingent consideration based on the achievement of EBITDA targets for 2017, 2018 and 2019 of up to an aggregate further €2.6 million (£2.2 million). The contingent consideration (earn-out) is satisfied 80% in cash and 20% in new Ergomed Ordinary Shares.

Application has been made to the London Stock Exchange for 345 Ordinary Shares to be admitted to trading on AIM ('Admission').  It is expected that Admission will occur at 8:00 a.m. on 9 July 2018. The Ordinary Shares will rank pari passu with the existing ordinary shares in the Company.

Following Admission, the Company's enlarged issued share capital and total number of voting rights will be 44,858,947 Ordinary Shares.

ENDS

Enquiries:

Ergomed plc	Tel: [phone]
Stephen Stamp (Chief Executive Officer)
Numis Securities Limited	Tel: [phone]
Michael Meade / Freddie Barnfield (Nominated Adviser)
James Black (Joint Broker)
N+1 Singer	Tel: [phone]
Aubrey Powell (Joint Broker)
Consilium Strategic Communications - for UK enquiries		Tel: [phone]
Chris Gardner / Mary-Jane Elliott Ivar Milligan / Olivia Manser	[e-mail]
MC Services - for Continental European enquiries	Tel: [phone]
Anne Hennecke

About Ergomed plc

Ergomed provides specialist services to the pharmaceutical industry spanning all phases of clinical development, post-approval pharmacovigilance and medical information. Ergomed's fast-growing, profitable services offering encompasses a complete suite of specialist pharmacovigilance solutions, integrated under the PrimeVigilance brand, in addition to a full range of high quality contract research and trial management services (CRO). Leveraging its CRO expertise, Ergomed also has a drug development portfolio of co-development partnerships and wholly-owned programmes. For further information, visit: http://ergomedplc.com

 

END

 

 

IOEGMGGNGDVGRZM