THIS ANNOUNCEMENT, AND THE INFORMATION CONTAINED IN IT, IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, SOUTH AFRICA OR ANY OTHER STATE OR JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
Clinigen Group Completes Acquisition of Idis and Vendor Placing
Burton-on-Trent, UK – 29 April 2015 – Clinigen Group plc (“Clinigen” or the “Company”, AIM: CLIN), the specialty global pharmaceutical company, is pleased to announce that it has today completed the acquisition of Idis Group Holdings Limited (“Idis”) which was announced on 24 April 2015 (the “Acquisition”).
As a result of the completion of the Acquisition, 27,000,000 new ordinary shares in the Company have been allotted, credited as fully paid, and placed at 500 pence per share pursuant to the Vendor Placing referred to in the announcement of the Acquisition. In addition 153,011 new ordinary shares have been allotted for cash, at 500 pence per share, to one of the management sellers of Idis.
Accordingly, the Company now has in issue 109,708,596 ordinary shares of 0.1p each, with voting rights. Clinigen does not hold any shares in treasury. This figure of 109,708,596 ordinary shares may be used by shareholders in Clinigen to determine if they are required to notify their interest in, or a change in their interest in, Clinigen under the Financial Conduct Authority's Disclosure and Transparency Rules.
Peter George, Chief Executive Officer of Clinigen, said:
“This transformational acquisition propels Clinigen to the market leader position in the $5+ billion unlicensed medicine supply sector and strengthens our leading position in the $2 billion clinical trial supply market.
“The acquisition also provides a number of clear further competitive and value-enhancing benefits to the enlarged entity.”
For further information, please contact:
Clinigen Group plc
Tel: +44 (0) 1283 495 010
Peter George, Group Chief Executive Officer
Robin Sibson, Group CFO
Shaun Chilton, Group Chief Operating Officer
Numis Securities Limited – Financial Adviser, Nominated Adviser and Joint Broker
Tel: +44 (0) 20 7260 1000
Michael Meade/Freddie Barnfield (Corporate Finance)
James Black/Tom Ballard (Corporate Broking)
Peel Hunt LLP – Joint Broker
Tel: +44 (0) 20 7418 8900
James Steel/Alastair Rae
Instinctif Partners – Media Relations
Tel: +44 (0) 20 7457 2020
Adrian Duffield/Melanie Toyne-Sewell
Mob: 07890 022 814