Adams PLC Investment (6196Y)
03 Enero 2020 - 01:00AM
UK Regulatory
TIDMADA
RNS Number : 6196Y
Adams PLC
03 January 2020
Adams plc
("Adams" or the "Company")
Investment in Circassia Pharmaceuticals Plc ("Circassia")
The Directors announce that, on 2 January 2020, Adams purchased
an additional 2,400,000 ordinary shares of GBP0.08 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 consideration of
GBP456,229.
The Company's total holding in Circassia now amounts to
3,075,000 ordinary shares of GBP0.08 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 GBP1,020,000.
About Circassia
Circassia is a specialty commercial pharmaceutical company
focused on respiratory disease which promotes innovative asthma
management products, including the NIOX(R) asthma diagnosis and
management products and the chronic obstructive pulmonary disease
products Tudorza(R) and Duaklir(R), directly to specialist
physicians in a number of key markets. Circassia is working to
expand its portfolio further through in-licensing, partnering or
acquisition.
Circassia's revenues amounted to GBP27.9 million for the six
months ended 30 June 2019, which coupled with continued significant
investment in development and marketing, resulted in an operating
loss of GBP19.3 million for that period. Circassia held cash and
cash equivalents of GBP21.0 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 anticipates achieving full year 2019 revenues
of GBP60 million to GBP65 million (2018: GBP48.3 million) with a
dramatically reduced net cash outflow in the second half of 2019
compared with the 2019 first half.
Further information on Circassia is available on the Circassia
website www.circassia.com.
Certain information contained in this announcement would have
been deemed inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 until 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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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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