COMPLETION OF ACQUISITION
12 November 2014: Consort is pleased to announce that it has today completed the acquisition of Aesica Holdco Limited ("Aesica").
As previously stated, the Board considers that the Acquisition represents an excellent opportunity for Consort and is directly in line with Consort's articulated strategy of diversifying into adjacent markets and technologies to capture additional value in the drug/device supply chain.
Aesica is one of Europe's leading pharmaceutical Contract Development and Manufacturing Organisations ("CDMO"), providing contract development and manufacturing services for Finished Dose and Active Pharmaceutical Ingredients to the global pharmaceutical industry. Since the Aesica business was established in 2004, it has grown both organically and through acquisitions and has established key strategic relationships with major global blue-chip pharmaceutical companies.
Jon Glenn, Consort's Chief Executive Officer, said:
"We are excited by the acquisition of Aesica which represents a very strong fit with our existing strategy of diversifying into adjacent markets and technologies to capture additional value in the drug/device supply chain. As one of Europe's leading pharmaceutical CDMOs, Aesica is highly complementary to Bespak's existing business and provides a number of clear strategic, competitive and value-enhancing benefits for the Enlarged Group."
Capitalised terms not defined herein, are defined at Part XVIII of the combined shareholder prospectus and circular published by the Company on 30 September 2014.
Consort Medical plc
Tel: +44 1442 867 920
Jonathan Glenn, Chief Executive
Richard Cotton, Group Finance Director
Evercore Partners International LLP (Financial Adviser and Joint Sponsor)
Tel: +44 20 7653 6000
Julian Oakley / Alan Beirne
Investec Bank plc (Bookrunner, Underwriter and Joint Sponsor)
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The defined terms set out in Part XVIII of the combined prospectus and circular (the "Prospectus") apply in this announcement. A copy of the Prospectus is available from the registered office of the Company and the Company's website atwww.consortmedical.com provided that the Prospectus will not, subject to certain exceptions, be available (whether through the website or otherwise) to the Company's shareholders in the Excluded Territories.
This announcement is not for release, publication or distribution, in whole or in part, directly or indirectly, in or into the United States of America, Australia, Canada, Japan, The Republic of South Africa and New Zealand or any other jurisdiction into which the publication or distribution would be unlawful. These materials do not constitute an offer to sell or issue or the solicitation of an offer to buy or acquire securities in the United States of America, Australia, Canada, Japan, The Republic of South Africa and New Zealand or any other jurisdiction in which such offer or solicitation would be unlawful.
This announcement has been issued by, and is the sole responsibility of the Company. No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Investec Bank plc ("Investec") or by any of their affiliates or agents as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any responsibility or liability therefor is expressly disclaimed. No representation or warranty express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by Evercore Partners International LLP ("Evercore") or by any of their affiliates or agents as to or in relation to, the accuracy or completeness of this announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any responsibility or liability therefor is expressly disclaimed.
Investec is authorised by the Prudential Regulation Authority ("PRA") and regulated by the PRA and the Financial Conduct Authority. Evercore is authorised and regulated by the Financial Conduct Authority. Investec and Evercore are acting exclusively for the Company in connection with the matters set out in this announcement and the Acquisition and Rights Issue. lnvestec and Evercore are not, and will not be, responsible to anyone other than the Company for providing the protections afforded to their clients or for providing advice in relation to the Acquisition and Rights Issue or any other matters referred to in this announcement. Apart from the responsibilities and liabilities, if any, which may be imposed on it by the Financial Services and Markets Act 2000, Investec and Evercore accept no responsibility whatsoever and make no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, fairness, sufficiency, completeness or verification or for any other statement made or purported to be made by it, or on their behalf, in connection with the Company, the Acquisition or the Rights Issue, and nothing in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or the future. lnvestec and Evercore accordingly disclaim to the fullest extent permitted by law all and any responsibility and liability whether arising in tort, contract or otherwise (save as referred to above) which they might otherwise have in respect of this announcement or any such statement.
This announcement is an advertisement and not a prospectus and investors should not subscribe for or purchase any securities referred to in this announcement except on the basis of information contained in the Prospectus published by the company in connection with the Acquisition and Rights Issue.
This announcement does not constitute a recommendation concerning the Rights Issue. The price and value of securities can go down as well as up. Past performance is not a guide to future performance. The contents of this announcement are not to be construed as legal, business, financial or tax advice. Each shareholder or prospective investor should consult his, her or its own legal adviser, business adviser, financial adviser or tax adviser for legal, financial, business or tax advice.
This announcement has been prepared in accordance with English law, the Listing Rules, the Prospectus Rules and the Disclosure Rules and Transparency Rules and information disclosed may not be the same as that which would have been prepared in accordance with the laws of jurisdictions outside England.
The distribution of this announcement in jurisdictions other than the United Kingdom may be affected by the laws of relevant jurisdictions. Therefore any persons who are subject to the laws of any jurisdiction other than the United Kingdom will need to inform themselves about, and observe any applicable requirements.
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This announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's current expectations and projections about future events. These statements, which sometimes use words such as "anticipate", "believe", "intend", "estimate", "expect", "will", "shall", "may", "aim", "predict", "should", "continue" and words of similar meaning and/or other similar expressions that are predictions of or indicate future events and/or future trends, reflect the Directors' beliefs and expectations at the date of this announcement and involve a number of risks, uncertainties and assumptions that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement.
Statements contained in this announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this announcement is subject to change without notice and, except as required by applicable law, neither the Company nor lnvestec nor Evercore assumes any responsibility or obligation to update publicly or review any of the forward-looking statements contained herein. You should not place undue reliance on forward-looking statements, which speak only as of the date of this announcement.
No statement in this announcement is or is intended to be a profit forecast or to imply that the earnings of the Company for the current or future financial years will necessarily match or exceed the historical or published earnings of the Company.