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Elder Pharmaceuticals finalizes 20% Strategic Investment in AIM listed Neutrahealth PLC, U.K.

Elder Pharmaceuticals Ltd has announced that the Company has finalized a 20% strategic stake in Neutra Health PLC, an AIM listed company in the United Kingdom. This entails an investment of Sterling Pounds 5.63 million (approximately Rs 46 – 47 crores) in respect of 35197026 equity shares having a face value of 10 pence at 16 pence per share.

Neutra Health PLC has three subsidiaries which market and distribute a range of neutraceutical products such as vitamins, specialized health supplements, over the counter medicines and 'detox in a box' health treatments, as well as TravelGuard range of travel related health products. Neutra Health has a turnover of 23 Million Sterling Pounds and a market capitalization of close to 16.8 Million Sterling Pounds.

The Company sees a lot of synergies being generated from this transaction with some of its brand finding entry into the U.K. market with a distinct possibility of back end production of some of the Neutra Health brands by the Company. Some of the brands of Neutra Health can also be brought into India and some other countries where the Company has business relationships.

The funding of this investment is proposed through ECS / FCCBs.
Source: Equity Bulls

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