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 | 18.10p |
Change Today | 0.85p |
% Change | 4.93 % |
52 Week High | 18.50p |
52 Week Low | 11.50p |
Volume | 532,348 |
Shares Issued | 182.27m |
Market Cap | £32.99m |
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 |
16:35 | 3,936 @ 18.10p |
16:35 | 36 @ 18.10p |
16:35 | 3,900 @ 18.10p |
16:29 | 100,000 @ 18.38p |
15:20 | 50,000 @ 18.15p |
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