24th Apr 2008 07:00
Dechra Pharmaceuticals PLC24 April 2008 Issued by Citigate Dewe Rogerson Ltd, BirminghamDate: Thursday, 24 April 2008 Dechra(R) Pharmaceuticals PLC Interim Management Statement Dechra Pharmaceuticals PLC ("Dechra" or the "Group"), publishes its secondInterim Management Statement as required by the UK Listing Authority Disclosureand Transparency Rules. Since the publication of the Group's Half-Yearly Financial Report, trading hascontinued in-line with management expectations with both our Pharmaceuticals andServices Divisions continuing the strong growth seen in the first half of thefinancial year. The financial position of the Group remains healthy. On 15 January 2008, Dechra completed the acquisition of the entire issued sharecapital of VetXX Holdings A/S ("VetXX") for a consideration of £30 million andDKK 372.4 million (less cash balances of DKK 45.2 million at completion). The acquisition was financed by a Placing and Open Offer of 11,624,544 NewOrdinary Shares at a price of 303p per share (raising gross proceeds of £35.2million) and a new bank facility, including refinancing of the Group's existingfacility, totalling £60 million. The integration of VetXX is proceeding toschedule with the synergy benefits being in-line with management expectations. The Group's product development programme is making good progress; positive newsis expected on Vetoryl from the US FDA during 2008. Other than as noted above, there have been no material events or transactionsbetween 1 January 2008 and the date of this announcement. The Board remains confident that the Group will continue to make good strategicprogress throughout the remainder of the financial year. Enquiries:Ian Page, Chief ExecutiveSimon Evans, Group Finance DirectorDechra Pharmaceuticals PLCTel: +44 (0)1782 771100Mobile: 07775 642222 (IP) or 07775 642220 (SE)[email protected] Fiona Tooley, DirectorKeith Gabriel, Senior Account ManagerCitigate Dewe RogersonTel: +44 (0)121 455 8370Mobile: 07785 703523 (FMT) or 07770 788624 (KG) Trade Marks appear throughout this release in italics. Dechra and the Dechra 'D'logo are registered Trade Marks of Dechra Pharmaceuticals PLC. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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