RWS Holdings PLC AGM Statement (7765W)
February 14 2017 - 2:00AM
UK Regulatory
TIDMRWS
RNS Number : 7765W
RWS Holdings PLC
14 February 2017
RWS GROUP
14 February 2017
RWS Holdings plc
AGM Statement
RWS Holdings plc ("RWS", "the Group"), a world leading provider
of intellectual property support services (patent translations,
international patent filing solutions and searches), commercial
translations and linguistic validation, is today holding its Annual
General Meeting at which Andrew Brode, Chairman, will make the
following remarks:
"The financial year ended 30 September 2016 saw the thirteenth
successive year of growth in Group sales, underlying profits and
dividends since its admission to the AIM market of the London Stock
Exchange in 2003.
"Since then, the Group has traded strongly with underlying
growth bolstered by favourable currency movements. We are achieving
meaningful new client wins in both of our core activities,
intellectual property and Life Sciences and increased levels of
business from a number of our established clients. As a result,
profits for the first quarter were comfortably ahead of
management's expectations.
Acquisition
"In a separate RNS announcement this morning, RWS announced the
proposed acquisition of 100% of the issued share capital of LUZ,
Inc., a leading Life Sciences translation business based in San
Francisco, and with operating units in Broomfield, Boston and
Lausanne. The cash consideration is US$82.5M, funded by a share
placing to raise proceeds of GBP40.0M, an additional term loan from
Barclays Bank plc (US$26.3M) and internal cash resources.
Summary and Outlook
"The Board remains highly encouraged by the Group's
opportunities to continue to grow significantly and profitably
across its ever broader portfolio of market leading businesses,
especially in its Life Sciences activities in the USA.
"We have a strong balance sheet and an interesting flow of
acquisition opportunities in our chosen specialist niches and look
forward to further significant progress."
For further information, contact:
RWS Holdings plc
Andrew Brode, Chairman 01753 480200
MHP
Katie Hunt / Simon Hockridge 0203 128 8100
Numis
Stuart Skinner / Kevin Cruickshank (Nominated Adviser) 0207 260
1000
Michael Burke (Corporate Broker)
This announcement contains inside information which is disclosed
in accordance with the Market Abuse Regulation which came into
effect on 3 July 2016.
About RWS:
RWS is a world leading provider of intellectual property support
services (patent translations, international patent filing
solutions and searches), a market leader in Life Sciences
translations and linguistic validation as well as a high level
specialist language service provider in other technical areas,
providing for the diverse needs of a blue-chip multinational client
base from Europe, North America and Asia. RWS is based in the UK,
with offices in Europe, the USA, (New York, East Hartford and
Chicago), China, Japan and Australia, and is listed on AIM, the
London Stock Exchange regulated market (RWS.L).
For further information, please visit: www.rws.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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