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LONDON - Ricardo plc, the UK-based environmental and engineering consulting firm, has publicly responded to the recent maneuvers by Science Group plc, a fellow shareholder. On Monday, Science Group released a statement consistent with its previously aggressive communication tactics, following its initial meeting with Ricardo management on March 5, 2025, after Ricardo’s interim results were published.
Since becoming a shareholder, Science Group has been increasing its stake in Ricardo, leveraging the company’s low share price. It has also proposed replacing certain Ricardo board directors with its own nominees and has indicated its willingness to call a general meeting to achieve this goal. Ricardo’s Board has expressed concern over Science Group’s intentions, emphasizing that the strategy to take effective control of the Board without offering a premium is not new for Science Group, having been used in other contexts.
Ricardo’s Board has described Science Group’s actions as an unwelcome distraction, especially at a time when Ricardo is focused on executing its strategy to enhance the business and create value for all shareholders. The Board has reassured stakeholders of its commitment to acting in the best interests of the company and plans to communicate further details of its strategy to its shareholders soon.
The conflict arises amid Ricardo’s efforts to navigate the complexities of energy transition and scarce resource management, along with providing solutions for safe and smart transport in over 20 countries. The company, which prides itself on a century of engineering excellence and a workforce of nearly 3,000, is facing a pivotal moment as it contends with the unsolicited interest from Science Group.
The announcement, issued by Ricardo plc and arranged by Harpreet Sagoo, Group General Counsel and Company Secretary, underscores the company’s dedication to transparency with its shareholders concerning the challenges posed by Science Group’s approach. This news is based on a press release statement and does not include any promotional content or endorsement of claims.
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