By Iain Gilbert
Date: Thursday 06 Dec 2018
LONDON (ShareCast) - (Sharecast News) - UK-based sports nutrition company Science in Sport wrapped up its "transformational" acquisition of protein brand PhD Nutrition on Thursday, effectively doubling its size.
Science in Sport spent a total of £32m on PhD - £28.5m in cash, with the remaining £3.5m covered by way of the issue of 5.83m new ordinary shares to PhD's former owners.
In order to fund the cash consideration, the AIM-listed outfit issued 48.39m new ordinary shares at a placing price of 60p each.
Chief executive Stephen Moon, said: "This is a transformational deal for our business. It immediately doubles our size and accelerates our ambition to become a global leader in premium performance nutrition."
"SIS and PhD are two businesses that have complementary brands, products, operations and sales channels which together create a well-balanced, cash generative company with enhanced potential."
As of 0820 GMT, SIS shares had slipped 0.51% to 58.40p.
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Currency | UK Pounds |
Share Price | 15.88p |
Change Today | 0.13p |
% Change | 0.79 % |
52 Week High | 17.75 |
52 Week Low | 9.75 |
Volume | 111,056 |
Shares Issued | 182.27m |
Market Cap | £28.94m |
Value |
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Price Trend |
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Income |
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Growth |
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No dividends found |
Time | Volume / Share Price |
15:37 | 15,887 @ 15.66p |
15:35 | 15,882 @ 15.67p |
15:32 | 10,000 @ 15.75p |
14:21 | 32,737 @ 15.50p |
10:16 | 36,550 @ 15.98p |
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