PRESS RELEASE
Annual General Meeting Statement
Guildford, UK – 10 June 2020: Ergomed plc (LSE: ERGO) ('Ergomed' or the 'Company'), a company focused on providing specialised services to the pharmaceutical industry, announces the following update from Dr Miroslav Reljanović, Executive Chairman, in advance of the Company’s closed Annual General Meeting (‘AGM’) to be held this morning at 9.30am:
“Ergomed had a good first quarter, with solid overall growth in revenue. Following the outbreak of COVID-19 in March 2020, the Company has successfully transferred to a fully remote working operation with minimal disruption and no redundancies or furloughed staff.
“The Company has continued to make good strategic progress this year, with further integration of the combined business under the pharmaceutical services model. The Ashfield Pharmacovigilance business, acquired in January 2020, has been integrated in line with plans as PrimeVigilance USA, providing significant commercial benefit to the group overall. Cash generation remains strong, and the Company is in a robust financial position.
“Despite the impact of COVID-19 on the general business environment, in the second quarter of 2020 the Company has continued to grow its order book across the business and to maintain its revenue growth trend whilst implementing effective cost control measures. The Company is confident in the performance of the business for the first half of 2020.
“In line with our usual practice, in July 2020 the Company will provide an update on current trading and the outlook for the remainder of the current financial year ending 31 December 2020. At this time the Company is confident that results will be in line with current market expectations for the 2020 financial year.
“Finally, on behalf of the Board, I would like to thank all of the Company’s colleagues and shareholders for their continuing support during the current challenging times.”
The results of shareholder voting on the AGM resolutions will be announced following the conclusion of the meeting.
ENDS
Enquiries:
| Ergomed plc | Tel: +44 (0) 1483 402 975 |
| Miroslav Reljanović (Executive Chairman) | |
| Richard Barfield (Chief Financial Officer) | |
| Numis Securities Limited | Tel: +44 (0) 20 7260 1000 |
| Freddie Barnfield / Huw Jeremy (Nominated Adviser) | |
| James Black (Broker) | |
| Consilium Strategic Communications – for UK enquiries | Tel: +44 (0) 20 3709 5700 |
| Chris Gardner / Sue Stuart | ergomed@consilium-comms.com |
| Matthew Neal / Olivia Manser | |
About Ergomed plc
Ergomed provides specialist services to the pharmaceutical industry spanning all phases of clinical development, post-approval pharmacovigilance and medical information. Ergomed’s fast-growing, profitable services business includes an industry leading suite of specialist pharmacovigilance (PV) solutions, integrated under the PrimeVigilance brand, a full range of high-quality contract research and trial management services under the Ergomed brand (CRO), and an internationally recognised specialist expertise in orphan drug development, under PSR. For further information, visit: http://ergomedplc.com.