Animalcare Group PLC Completion of Acquisition and Readmission to AIM (9217K)
July 13 2017 - 3:01AM
UK Regulatory
TIDMANCR
RNS Number : 9217K
Animalcare Group PLC
13 July 2017
Animalcare Group plc
("Animalcare" or the "Company")
Completion of Acquisition
and Readmission of the Enlarged Group to trading on AIM
Animalcare Group plc (AIM: ANCR) is pleased to announce the
admission of its Enlarged Share Capital to trading on AIM. Dealings
have commenced at 8.00 a.m. today.
This follows the successful acquisition of Ecuphar NV by
Animalcare and a placing of 9,340,168 Placing Shares at the Placing
Price of 350p to raise approximately GBP32.7 million (before
expenses) which also completed today. The Placing consisted of
8,571,428 New Placing Shares placed by the Company and 768,740 Sale
Shares sold by the Selling Shareholders at the Placing Price.
The Board believes that Animalcare and Ecuphar are highly
complementary businesses, in particular with regard to their
geographic markets, product portfolios and new product development
pipelines and the Acquisition will provide enhanced scale and
capabilities. As such, the Board considers the Acquisition to
provide an opportunity to create a specialist pan-European animal
health company that gives the Enlarged Group leadership in its
chosen niches that is supported by attractive and complementary
market drivers. The Board believes that the Enlarged Group will
represent a growing, highly cash generative and dividend paying
animal health company with a solid pipeline of new veterinary
pharmaceutical products. The Board believes that, taking into
account the business and prospects of the Enlarged Group, the
Acquisition will be enhancing to the Board's expectations of
underlying earnings for the Existing Group in the first full
financial year of ownership.
Terms used in this announcement shall have the meanings given to
them in the Company's admission document dated 24 June 2017 unless
otherwise specified, a copy of which is available to view at:
www.animalcaregroup.co.uk/investors/constitutional-documents/aim-admission-document
Enquiries:
Animalcare Group plc
Chris Cardon, Chief Executive Tel: 01904 487 687
Officer
Walter Beyers, Chief Financial
Officer
Iain Menneer, Chief Operating
Officer
Panmure Gordon (UK) Ltd (Nominated Tel: 020 7886 2500
Adviser and Broker)
Corporate Finance
Freddy Crossley / Peter Steel
/ Duncan Monteith
Corporate Broking
James Stearns
Rothschild (Financial Adviser) Tel: 0113 200 1900
Stephen Griffiths
Tim Day
Walbrook PR Ltd Tel: 020 7933 8780 or animalcare@walbrookpr.com
Paul McManus Mob: 07980 541 893
Lianne Cawthorne Mob: 07584 391 303
About Animalcare (www.animalcaregroup.co.uk)
Animalcare Group plc is a UK AIM listed veterinary sales,
marketing and product development company resulting from the merger
of Animalcare and Ecuphar NV.
Animalcare is a pan-European animal health company, with a large
geographic footprint. The Company has direct sales in seven
countries (UK, Belgium, Netherlands, Spain, Portugal, Italy and
Germany) and exports to approximately 50 markets worldwide.
The company has nearly 100 sales representatives and 28 agents
operating across Europe and owns 50 licensed drugs, eight vaccines
and over 100 care and nutraceutical products.
Animalcare invests in developing its own pharmaceutical
products, seeks distribution partnerships and product
acquisitions.
For more information see Animalcare Ltd (www.animalcare.co.uk)
and Ecuphar NV (www.ecuphar.com).
Forward looking statements
Certain statements contained herein are forward looking
statements and are based on current expectations, estimates and
projections about the potential returns of the Group and industry
and markets in which the Group operates and will operate, the
Existing Directors' and the Proposed Directors' beliefs and
assumptions made by the Existing Directors and the Proposed
Directors. Words such as "expects", "anticipates", "should",
"intends", "plans", "believes", "seeks", "estimates", "projects",
"pipeline", "aims", "may", "targets", "would", "could" and
variations of such words and similar expressions are intended to
identify such forward looking statements and expectations. These
statements are not guarantees of future performance or the ability
to identify and consummate investments and involve certain risks,
uncertainties, outcomes of negotiations and due diligence and
assumptions that are difficult to predict, qualify or quantify.
Therefore, actual outcomes and results may differ materially from
what is expressed in such forward looking statements or
expectations. Among the factors that could cause actual results to
differ materially are: the general economic climate, competition,
interest rate levels, loss of key personnel, the result of legal
and commercial due diligence, the availability of financing on
acceptable terms and changes in the legal or regulatory
environment. These forward-looking statements speak only as at the
date of this document. The Company, the Existing Directors and the
Proposed Directors expressly disclaim any obligation or undertaking
to release publicly any updates or revisions to any forward-looking
statements contained herein, or to reflect any change in their
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statements are based
save as required to comply with any legal or regulatory obligations
(including the AIM Rules for Companies).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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