Judges Scientific PLC Increase in shareholding in PE Fiberoptics Limited
August 08 2018 - 2:01AM
RNS Non-Regulatory
TIDMJDG
Judges Scientific PLC
08 August 2018
Press Release 8 August 2018
Judges Scientific plc
("Judges Scientific", "Judges", the "Company" or the
"Group")
Increase in shareholding in PE Fiberoptics Limited
Judges Scientific, a group involved in the buy and build of
scientific instrument businesses, announces that its interest in
its majority owned subsidiary PE Fiberoptics Limited ("PFO") has
increased from 51% to 67.5%.
In 2005, Judges financed the management buy-out of a business
manufacturing instruments to test fibre optics. The buy-out
vehicle, PFO, was owned by Judges (51%), the seller (14%) with the
management of PFO owning the balance of the equity (35%).
PFO has now purchased half of the shares owned by all
shareholders other than Judges, satisfied by a portion of its
surplus cash balances. As a result, PFO purchased 24.5% of its
issued share capital. The total value of the repurchase was
GBP1.5m, based on an enterprise value of GBP3.8m for 100% of PFO.
In 2017, PFO generated GBP1.1m EBIT.
Following the repurchase PFO retains substantial cash resources
and Judges Scientific's board expects the transaction to be
immediately earnings enhancing for the Group.
For further information please contact:
Judges Scientific
David Cicurel, CEO Tel: +44 (0) 203 829 6970
Brad Ormsby, Group FD
Alma (Financial Public Relations) Tel: +44 (0) 20 3865 9886
Rebecca Sanders-Hewett
Susie Hudson
Sam Modlin
Notes to editors:
Judges Scientific plc (AIM: JDG), is a group involved in the buy
and build of scientific instrument businesses. The Group currently
consists of 16 businesses acquired since it was re-admitted to AIM
in 2005. The acquired companies are primarily UK-based with
products sold worldwide to a diverse range of markets including
higher education institutions, the scientific communities,
manufacturers and regulatory authorities. The UK is a recognised
centre of excellence for scientific instruments. The Group
companies have been awarded five Queen's Awards for innovation and
export.
Judges Scientific maintains a policy of selectively acquiring
businesses that generate sustainable profits and cash. Shareholder
returns are created through the repayment of debt, organic growth
and dividends.
The Group's companies predominantly operate in niche end
markets, with long term growth fundamentals and resilient
margins.
For further information, please visit www.judges.uk.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
NRAPRMRTMBBMBAP
(END) Dow Jones Newswires
August 08, 2018 02:01 ET (06:01 GMT)
Judges Scientific (LSE:JDG)
Historical Stock Chart
From May 2024 to Jun 2024
Judges Scientific (LSE:JDG)
Historical Stock Chart
From Jun 2023 to Jun 2024