Issue of Equity
09 10월 2007 - 4:01PM
UK Regulatory
RNS Number:3643F
Dermasalve Sciences PLC
09 October 2007
DERMASALVE SCIENCES PLC
ISSUE OF EQUITY
The Directors of DermaSalve Sciences plc ("DermaSalve" or the "Company")
announce that the Company has issued and allotted 3,000,000 ordinary shares of
1p each (the "New Shares") to the former owners and current management team of
Healthy and Essential Limited ("Healthy and Essential"). The New Shares have
been issued in respect of the first tranche of deferred consideration for the
acquisition of Healthy and Essential, which was completed in August 2006. The
deferred consideration became due as a result of Healthy and Essential achieving
an unaudited turnover of #1.41 million in the 12 months ended 31 August 2007,
exceeding the earn out target of #1.25 million.
DermaSalve acquired Healthy and Essential in a share for share transaction with
a maximum consideration of 9,000,000 ordinary shares. The initial consideration
of 3,000,000 shares was issued on completion, with two further tranches of
3,000,000 shares to be issued if revenue targets were achieved for the first and
second years post completion.
Dr. Mark Randle, Chief Executive of DermaSalve, said "The integration of Healthy
and Essential has proceeded well and it is encouraging that the revenue target
has been comfortably exceeded in the first year since the acquisition."
Healthy and Essential (www.healthyandessential.com) is a UK distributor of high
quality, premium omega 3 products. Products are sold through various
distribution channels including via e-commerce, premium retail pharmacies and
health food stores.
Application will be made for the New Shares to be admitted to trading on AIM,
which is expected to take place on 12 October 2007. Following the issue of the
New Shares, there are 100,824,659 ordinary shares in issue. For the avoidance
of doubt, this figure includes the 253,952 ordinary shares which have been
issued to the Trafalgar Capital Specialized Investment Fund, as announced on 5
October 2007, which are due to be admitted to AIM on 11 October 2007.
Enquiries
DermaSalve Sciences plc 0191 260 5070
Dr. Mark Randle
Phil Pattison
Hanson Westhouse Limited 0113 246 2610
Tim Feather
Matthew Johnson
Hansard Group 020 7245 1100
Brendan Adams
This information is provided by RNS
The company news service from the London Stock Exchange
END
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