Science Group PLC will sell 12,443,655 Ricardo plc shares, representing 19.99% of Ricardo's issued share capital, to WSP Group Limited at 430 pence per share as part of WSP's acquisition offer. The sale is expected to generate £53.5 million in cash for Science Group, realizing a pre-tax net return of approximately 70% on its investment made between February 16 and May 27, 2025, at an average price of 239 pence per share. Science Group supports the WSP offer and intends to use the proceeds for strategic investments, with the investment profit expected to be materially accretive for Science Group in the current financial year.
Science Group PLC is set to realize a significant gain from the sale of its Ricardo plc shareholding, divesting 12,443,655 shares, or 19.99% of Ricardo's issued capital, to WSP Group Limited at 430 pence per share. This transaction, part of WSP’s offer to acquire Ricardo, will generate approximately £53.5 million in cash proceeds for Science Group before the end of June. Having acquired a 21.8% stake in Ricardo between February 16 and May 27, 2025, at an average price of 239 pence per share, Science Group anticipates a pre-tax net return of around 70% on this investment. WSP's offer price reflects a substantial 102% premium over Ricardo's share price of 213 pence prior to Science Group's accumulation of shares. Science Group has expressed support for WSP's offer and intends to allocate the net proceeds towards future strategic investments and corporate opportunities, while retaining a small residual stake in Ricardo. This profitable divestment is expected to be "materially accretive" to Science Group's earnings for the current financial year and will considerably strengthen its cash position, also leading to the likely adjournment of a previously requisitioned general meeting scheduled for June 18, 2025.
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