4 Apr 2022 07:00
Issue of Consideration Shares to Founder of MedSource
Guildford, UK - 4 April 2022: Ergomed plc (LSE: ERGO) ("Ergomed" or the "Company"), a company focused on providing specialised services to the pharmaceutical industry, today announces that application has been made to AIM for the admission of 155,558 new ordinary shares of 1p each in the capital of the Company ("Consideration Shares").
The Consideration Shares are being issued to Eric Lund, the founder and former shareholder of MS Clinical Services, LLC ("MedSource"), as part of the consideration for the acquisition of MedSource, announced on 14 December 2020. Under the terms of the acquisition, part of the consideration payable for MedSource was to be satisfied by the issue of up to $1.8 million in Ergomed shares, subject to reduction for breaches of representations and warranties. Each Consideration Share has a value of £8.7555, such price being based on the average daily closing price of the Company's shares for the 30 days preceding the acquisition, in accordance with the terms of the acquisition documents. The Consideration Shares are subject to a six month lock-in, followed by a six month orderly market provision, from the date of issue.
Admission to trading on AIM of the Consideration Shares ("Admission") is expected to occur on 5 April 2022. Following Admission, the Consideration Shares will rank pari passu in all respects with the Company's existing ordinary shares.
Following Admission, the total number of ordinary shares with voting rights in issue will be 49,507,129. This figure may 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 Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
ENDS
Enquiries:
Ergomed plc Tel: +44 (0) 1483 402 975
Miroslav Reljanović (Executive Chairman)
Richard Barfield (Chief Financial Officer)
Keith Byrne (Senior Vice-President, Capital Markets & Strategy)
Numis (Nominated Adviser and Joint Broker) Tel: +44 (0) 20 7260 1000
Freddie Barnfield / Euan Brown (Nominated Adviser)
James Black (Broker)
Peel Hunt LLP (Joint Broker) Tel: +44 (0) 20 7418 8900
James Steel / Dr. Christopher Golden
Consilium Strategic Communications Tel: +44 (0) 20 3709 5700
Chris Gardner / Matthew Neal / Angela Gray ergomed@consilium-comms.com
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 services business includes an industry-leading suite of specialist pharmacovigilance (PV) solutions, integrated under the PrimeVigilance brand, a full range of high-quality clinical research and trial management services under the Ergomed brand (CRO) and mission-critical regulatory compliance and consulting services under the ADAMAS brand. For further information, visit: http://ergomedplc.com.