Celadon Pharmaceuticals (CEL)


Alternative Investment Instruments


FTSE AIM All-Share

  • Change Today:
  • 52 Week High: 159.00
  • 52 Week Low: 49.50
  • Currency: UK Pounds
  • Shares Issued: 61.67m
  • Volume: 129,948
  • Market Cap: £66.30m
  • RiskGrade: 111

Summerway to buy medicinal cannabis group Vertigrow

By Sean Farrell

Date: Monday 27 Jun 2022

LONDON (ShareCast) - (Sharecast News) - Summerway Capital has agreed to buy Vertigrow Technology, a medicinal cannabis producer, for £80m to take the business public and expand it.
The acquisition vehicle said it would pay for the deal by issuing 48.5m shares at 165p each and lend Vertigrow £4.25m to speed up capital spending at its facility in the Midlands.

Summerway said it would place shares with investors to raise £7m before expenses to provide working capital for the enlarged group. The bid vehicle switched its focus from technology to healthcare and pharmaceuticials earlier in 2021.

Vertigrow grows cannabis for medicinal products to treat pain and has a licence from the UK government to legally grow cannabis for that purpose. Its facility could supply up to 50,000 patients and generate revenue of £90m per annum with earnings before interest, tax, depreciation and amortisation margins of about 50%.

Vertigrow also has a majority stake in a potential private pain clinic business that, on approval, would carry out the only authorised medicinal cannabis trial of its type in the UK, Summerway said.

After the deal completes, James Short, Vertigrow's founder and chief executive, will join Summerway's board as CEO.

Benjamin Short, Summerway's interim chairman, said: "The board of Summerway is delighted to announce the proposed acquisition of Vertigrow and to be partnering with James Short and his team. We believe the pharmaceutical medical cannabis market will be substantial in the UK and internationally and Vertigrow is, in our view, a clear leader in the sector."

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.


CEL Market Data

Currency UK Pounds
Share Price 107.50p
Change Today -12.50p
% Change -10.42 %
52 Week High 159.00
52 Week Low 49.50
Volume 129,948
Shares Issued 61.67m
Market Cap £66.30m
RiskGrade 111

CEL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Market averageMarket averageMarket averageMarket averageMarket average
85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
18.84% below the sector average18.84% below the sector average18.84% below the sector average18.84% below the sector average18.84% below the sector average
Income Not Available
Growth Not Available

CEL Dividends

No dividends found

Trades for 24-Mar-2023

Time Volume / Share Price
16:10 8,757 @ 114.00p
17:08 3,500 @ 107.50p
15:03 13,702 @ 109.39p
14:42 15,000 @ 102.61p
16:35 5,000 @ 105.00p

CEL Key Personnel

CEO James Short
CFO Jonathan Turner

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