Premier Veterinary Group Limited signed heads of terms to acquire Ark Therapeutics Group plc in a reverse merger transaction on March 28, 2014. Premier Veterinary Group Limited agreed in principle to acquire Ark Therapeutics Group plc on November 21, 2014. The Board of Ark Therapeutics Group is seeking authority to rename the Ark Therapeutics Group to Premier Veterinary Group plc and also on proposed transfer of the ordinary shares out of the category of a premium listing on the official list and into the category of a standard listing on the official list. If the transfer resolution is not passed, the Board will not proceed with the acquisition and will commence a voluntary liquidation process in respect of Ark Therapeutics Group plc.

Upon admission, Iain Ross will remain as Chairman of the enlarged group, Dominic Tonner will become appointed as Chief Executive Officer, Dan Smith will become appointed as Chief Financial Officer and Rajan Uppal will become appointed as Corporate Development Officer. The Board of Ark Therapeutics has unanimously recommends that the independent shareholders vote in favour of resolution. The transfer requires Ark Therapeutics Group to obtain the prior approval of not less than 75% of the votes of shareholders. The acquisition would be conditional on, amongst other matters, the transfer resolution being passed and would only complete following the cancellation of the Ark Therapeutics Group's admission to the premium segmentThe transaction is expected to complete by January 20, 2015.

Premier Veterinary Group Limited entered into a share sale and purchase agreement to acquire Ark Therapeutics Group plc in a reverse merger transaction on January 28, 2015. Completion of the acquisition is scheduled to occur on February 5, 2015. Grant Thornton UK LLP acted as accountant, Charles Stanley & Co. Limited acted as financial advisor and Marriott Harrison LLP acted as legal advisor for Ark.