GYG.L Regulatory News (GYG)

21 Jul 2005 08:05

Gyrus Group PLC21 July 2005 COMPLETION OF ACQUISITION OF ACMI HALF-YEAR TRADING UPDATE 21 July 2005: Gyrus Group PLC ("Gyrus" or the "Group"), today announces that ithas completed the acquisition of American Cystoscope Makers, Inc. ("ACMI") inaccordance with the terms of the Acquisition Agreement between Gyrus and ACMIdated 16 June 2005, and that the related vendor placing of 61,560,025 Gyrusordinary shares announced on 16 June 2005 has become wholly unconditional in allrespects. Gyrus also today provides a trading update for the six months ended 30 June 2005ahead of the interim results to be announced on 7 September 2005. The Group has performed well during the first six months of 2005 with sterlingreported revenues growing by approximately 11% to £47 million (H1 2004: £42.5million). This represents underlying revenue growth in local currency ofapproximately 14% over the period, which is in line with the Board'sexpectations. The Group's three year operating improvement programme has continued to increasemargins at both gross and operating levels and it is anticipated that profitsfor the period will also be in line with the Board's expectations. Commenting on today's announcement, Brian Steer, Executive Chairman of Gyrus,said: "We have seen significant progress in the first half across Gyrus's portfolio ofbusinesses which sets the foundations for the integration of ACMI, theacquisition of which was successfully completed today." Enquiries: Gyrus Group PLC Tel: 0118 921 9750Brian Steer, Executive ChairmanSimon Shaw, Chief Financial Officer Numis Securities Tel: 020 7776 1500Charles SpicerStuart Skinner Bear, Stearns InternationalIan George Tel: 020 7516 6000 Panmure Gordon Tel: 020 7459 3600Gilbert EllacombeDominic Morley Financial Dynamics Tel: 020 7831 3113David Yates / Ben Atwell Following the publication of the listing particulars (the "Listing Particulars")and class 1 circular of Gyrus dated 16 June 2005, Gyrus published yesterday aprospectus ("the Prospectus") as required by the new Prospectus Rules which cameinto effect 1 July 2005. The Prospectus contains no new material informationthat was not included in the Listing Particulars or otherwise available from thepublished information of the Group. The Prospectus is not required to be postedto shareholders but copies are available at the registered office of Gyrus(Fortran Road, St Mellons, Cardiff CF3 OLT) and from the offices of NumisSecurities Limited. The Prospectus will also be available for inspection atthe UK Listing Authority's Document Viewing Facility (Financial ServicesAuthority, 25 The North Colonnade, Canary Wharf, London E14 5HS. Telephone 0207066 1000) This information is provided by RNS The company news service from the London Stock Exchange