ADAMS PLC 03/01/2020 | Investment - RNS - London Stock Exchange |
Regulatory Story
Adams PLC- ADA Investment
Released 07:00 03-Jan-2020
RNS Number : 6196Y
Adams PLC
03 January 2020
Adams plc
("Adams" or the "Company")
Investment in Circassia Pharmaceucals Plc ("Circassia")
The Directors announce that, on 2 January 2020,Adams purchased an addional 2,400,000 ordinary shares of £0.08 in Circassia on the AIM market of the London Stock Exchange at an average price of 19.0 pence per share for a total cash consideraon of £456,229.
The Company's total holding in Circassia now amounts to 3,075,000 ordinary shares of £0.08 and represents 0.82% of the currently issued ordinary share capital of Circassia of 375,199,334 shares. Following this investment, the Company will have cash balances of approximately £1,020,000.
About Circassia
Circassia is a specialty commercial pharmaceucal company focused on respiratory disease which promotes innovave asthma management products, including the NIOX® asthma diagnosis and managementproducts and the chronic obstrucve pulmonary disease products Tudorza® and Duaklir®, directly to specialist physicians in a number of key markets. Circassia is working to expand its porolio further through in-licensing, partnering or acquision.
Circassia's revenues amounted to £27.9 million for the six months ended 30 June 2019, which coupled with connued significant investment in development and markeng, resulted in an operang loss of £19.3 million for that period. Circassia held cash and cash equivalents of £21.0 million at 30 June 2019.
On 5 December 2019, Circassia reiterated the guidance given in its interim financial results for the six months ended 30 June 2019 and confirms that it ancipates achieving full year 2019 revenues of £60 million to £65 million (2018: £48.3 million) with a dramacally reduced net cash oulow in the second half of 2019 compared with the 2019 first half.
Further informaon on Circassia is available on the Circassia website www.circassia.com.
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03/01/2020 | Investment - RNS - London Stock Exchange |
Certain informaon contained in this announcement would have been deemed inside informaon for the purposes of Arcle 7 of Regulaon (EU) No 596/2014 unl the release of this announcement.
Enquiries: | |
Adams plc | |
Mike Bretherton | Tel: +44 1534 719 761 |
Nomad | |
Cairn Financial Advisers LLP | |
Sandy Jamieson, James Caithie | Tel: +44 207 213 0880 |
Broker | |
Peterhouse Corporate Finance Limited | |
Lucy Williams, Duncan Vasey | Tel: +44 207 469 0930 |
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Adams plc published this content on 03 January 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 January 2020 08:11:10 UTC
