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4-Traders Homepage  >  Equities  >  London Stock Exchange  >  Plant Health Care plc    PHC   GB00B01JC540

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Plant Health Care plc : PHC Relocates Head Office and Expands Research Facility

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07/19/2013 | 04:39pm CEST


19 July 2013

PLANT HEALTH CARE PLC Plant Health Care relocates head office and expands research facilities

Plant Health Care (AIM/CISX: PHC.L), a leading provider of naturally derived products to the agriculture industry, announces that it is relocating its headquarters from Pittsburgh, PA to Raleigh, NC. The relocation will take place during the remainder of 2013, with completion of the transition by the end of this year.
The company is also significantly increasing its research activities and personnel. The research facilities have now moved from their previous location to a much-expanded office and laboratory facility in the Seattle, WA area. The new facilities are approximately four times the size of the previous location and will accommodate additional senior scientists and technicians.

Dr. Christopher Richards, Chairman of Plant Health Care commented on the head office relocation: "The Board and Shareholders of Plant Health Care concluded that relocating the headquarters of the company to one of the major global agriculture industry communities was in the best interests of the company. North Carolina is home to a number of leading agriculture players and offers world-class infrastructure, workforce and resources for our business." Paul Schmidt, CEO of Plant Health Care commented on the research expansion: "Our recent successful placing enables us to ramp-up our research activities significantly over the next few years. The primary focus of this enhanced effort will be the continued discovery and development of the Harpin technology platform, driven by the current commercial success of Harpin alpha-beta and by very promising early results with third generation products." Dr. Zhongmin Wei, Vice President and Chief Science Officer of Plant Health Care commented: "The expansion of the research investment and activities is an exciting development for Plant Health Care. We have developed a remarkable platform of technology and intellectual property and the opportunity to continue expanding and accelerating this development is extremely exciting. I have been involved in the development of Plant Health Care's technology for a long time and am thrilled with the opportunity to take this platform to the next level." - ENDS-

About Plant Health Care, plc: Plant Health Care, plc ("PHC") is a leading provider of naturally derived products for plants and soil. The Company's ordinary shares have been quoted on

the Alternative Investment Market ("AIM") of the London Stock Exchange since July 2004 and listed on the Official List of the Channel Islands Stock Exchange ("CISX") in February 2010 (ticker symbol/ mnemonic: PHC).

PHC's products are aimed at agriculture industries and are environmentally beneficial. Through the commercialisation of these products, PHC is capitalising on current long-term trends toward natural systems and biological products for plant care and soil and water management.

Further information is available at: www.planthealthcare.com or please contact:

For further information please contact: Plant Health Care plc

Paul Schmidt, Chief Executive Officer Tel: +1-412-826-5488
Stephen Weaver, Finance Director Tel: +1-412-826-5488

Nomura Code Securities Tel: +44 (0) 20 7776 1200

Clare Terlouw / Chris Golden

Powerscourt Tel: +44 (0) 20 7250 1446

Paul Durman / Nick Dibden / Sophie Moate

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Financials ($)
Sales 2017 8,04 M
EBIT 2017 -5,56 M
Net income 2017 -
Finance 2017 4,36 M
Yield 2017 -
P/E ratio 2017 -
P/E ratio 2018
EV / Sales 2017 5,51x
EV / Sales 2018 4,90x
Capitalization 48,6 M
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Mean consensus BUY
Number of Analysts 1
Average target price 59,2 $
Spread / Average Target 17 847%
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Managers
NameTitle
Christopher Gareth Joseph Richards Executive Chairman & Chief Executive Officer
Jeff Hovey Chief Financial Officer
Zhong Min Wei Chief Scientific Officer & VP-Harpin Technology
Michael James Higgins Senior Independent Non-Executive Director
Richard Hannam Webb Executive Director
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