RNS Number : 4115H
Eco Animal Health Group PLC
19 March 2024
 

 

 

ECO Animal Health Group plc

("ECO" or the "Company")

 

ECO Animal Health General meeting resolution passed

ECO Animal Health Group plc (AIM: EAH), a rapidly growing global animal health company with a portfolio of marketed veterinary products and a maturing proprietary R&D pipeline, announces that at its General Meeting held earlier today ("GM") the special resolution proposed to the meeting to allow the Company to make market purchases of its own shares was duly passed.

Proxy votes received in relation to the resolution were as follows:

 

Resolution

For

 

%

 

Discretionary

 

%

Against

 

%

Withheld

01

40,553,465

97.6

Nil

0

1,011,642

2.4

Nil

 

As previously announced the Company disposed of certain surplus freehold properties and received net proceeds of £1,058,454. The board stated that it intends to use the majority of these proceeds to advance the growth aspirations of ECO. The Board also announced that it intends to use some of the proceeds to purchase ordinary shares of the Company ("Ordinary Shares") in the market to cover possible future vesting of employee share-based incentives.  The authority conferred by this resolution will be used to purchase a maximum of 270,000 Ordinary Shares in the market which is expected to cost no more than £300,000.

In addition, in the remaining weeks before the close of the financial year ending 31 March 2024, the Company intends to issue a trading update.

 

David Hallas, CEO of ECO, commented: "We are pleased to have received approval from our shareholders enabling us to pursue this one-off share purchase. The Board agreed that now is the optimal time to use proceeds from our recent property disposals to purchase shares that will be used to satisfy share based staff incentives." 

 

-Ends-

 

 

 

For further information please contact:

 

ECO Animal Health Group plc

David Hallas (CEO)

Christopher Wilks (CFO)


020 8447 8899

 

Singer Capital Markets (Nominated Adviser & Joint Broker)

Phil Davies

Sam Butcher

020 7496 3000

Investec (Joint Broker)

Gary Clarence

Lydia Zychowska

020 7597 5970

 

 

Equity Development

Hannah Crowe

Matt Evans

020 7065 2692

ICR Consilium (Financial PR)

Mary-Jane Elliott

Jessica Hodgson

020 3709 5700

ecoanimalhealth@consilium-comms.com

 


About ECO Animal Health

ECO Animal Health is a world leader in animal health, developing and marketing branded veterinary pharmaceuticals globally, with expertise in antibiotics and vaccines for pigs and poultry. We have a maturing proprietary R&D pipeline.

Headquartered in the UK, with global offices including R&D and manufacturing, we have marketing authorisations in over 70 countries and employ over 200 people worldwide.

Our lead product, Aivlosin® is a proprietary, patented medication which is effective against both respiratory and intestinal diseases in pigs and poultry. 

Click here for more information: https://ecoanimalhealth.com

 

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