Guildford, UK – 20 July 2015: Ergomed Plc (“Ergomed” or the “Company”, AIM: ERGO), a profitable UK-based company, dedicated to the provision of specialised services to the pharmaceutical industry and the development of new drugs, announces that it has been notified today by Dr Miroslav Reljanovic, CEO and founder of Ergomed, that he has today sold a total of 3,958,020 ordinary shares in the Company (“the Placing Shares”) on the London Stock Exchange at a price of 170p per share, being a discount of 6.8 per cent to the 10 day weighted average price.
The Placing Shares represent in aggregate approximately 13.8 per cent of the total issued share capital of Ergomed. The Placing Shares were sold to new and existing institutional investors via an accelerated bookbuild placing managed by Stifel Nicolaus Europe Limited as bookrunner and broker and MC Services AG as European Financial Consultant.
In addition, Dr Reljanovic has agreed to grant an option over 176,470 ordinary shares from his own holding to each of Neil Clark, Chief Financial Officer and Andrew Mackie, Chief Business Officer (the “Executive Optionholders”). Half of these shares under this option will be exercisable immediately and half will be subject to a year vesting period. The exercise price will be £0.01. Upon exercise of these options, Dr Reljanovic will transfer the relevant number of shares from his own holding to the relevant Executive Optionholder.
Following this disposal, Dr Reljanovic remains interested in 17,232,237 ordinary shares in Ergomed, representing approximately 59.9 per cent of Ergomed’s issued share capital. Notwithstanding the grant of options, the 352,940 ordinary shares over which he has granted options to Neil Clark and Andrew Mackie remain in Dr Reljanovic’s holding until exercise. In addition, Dr Reljanovic has agreed not to sell any further shares for a 12 month period (subject to the usual exceptions) without the prior written consent of Stifel Nicolaus Europe Limited (acting in its absolute discretion). The terms of this lock up are substantively the same terms as the one he entered into at the IPO of the Company.
Following the grant of the option by Dr Reljanovic, Neil Clark is interested in 91,912 ordinary shares in Ergomed, representing 0.3% of Ergomed’s issued share capital. Andrew Mackie holds no ordinary shares in Ergomed.
Rolf Stahel, Chairman of Ergomed, commented: “Ergomed is pleased to broaden the share register with support from existing shareholders as well as new, high quality investors including a number of continental European investors. It has always been Ergomed’s intention to reduce Dr Reljanovic’s founder holding and thereby increase liquidity and broaden the institutional shareholder base. Dr Reljanovic remains committed to leading delivery of the Company’s strategy and we are excited about the future potential in the business.”
ENDS
For further information, please contact:
Hume Brophy
Mary Clark, Supriya Mathur and Hollie Vile
Tel: + 44 203 440 5654
ergomed@humebrophy.com
Stifel Nicolaus Europe Limited
NOMAD/Broker to the Company
Jonathan Senior, Giles Balleny
Tel: + 44 207 710 7600
About Ergomed
Ergomed Plc is a profitable UK-based company, providing drug development services to the pharmaceutical industry and has a growing portfolio of co-development partnerships. It operates in over 40 countries.
Ergomed provides clinical development, trial management and pharmacovigilance services to over 60 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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