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16 May 2016 07:00
Ergomed plc
Placing Update: Exercise of Joint Bookrunners' Option
Ergomed plc ("Ergomed" or the "Company", AIM: ERGO) a profitable UK-based group dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, announces that further to the Placing announced on 04 May 2016, Stifel Nicolaus Europe Limited and Numis Securities Limited as joint bookrunners, have exercised the Option in respect of 127,500 new Ordinary Shares (the "Option Shares").
The Option Shares are being issued at a price of 140 pence per Option Share (being equal to the Issue Price) and will be issued on the same terms and conditions as the Initial Placing Shares pursuant to the Placing. All of the proceeds of £178,500 arising from the issue of the Option Shares will, after deduction of commissions and expenses, be received by the Company.
Application will be made to the London Stock Exchange for the 127,500 Option Shares to be admitted to trading on AIM. Admission of the Option Shares to trading on AIM is expected to take place at 8.00am on 24 May 2016, at the same time as the Admission of the Initial Placing Shares.
Capitalised terms used in this announcement have the meanings given to them in the announcement of the Placing dated 04 May 2016.
Enquiries:
Stifel Nicolaus Europe Limited | Tel: +44 (0) 20 7710 7600 |
(Nominated Adviser and Joint Bookrunner) Jonathan Senior / Stewart Wallace | |
Numis | |
(Joint Bookrunner) Michael Meade / James Black | Tel: +44 (0) 20 7260 1000 |
FTI Consulting | Tel: +44 (0) 20 3727 1000 |
Simon Conway / Mo Noonan / Natalie Garland-Collins |
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 80 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. For further information, visit: http://ergomedplc.com
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