Issue of Equity & Total Voting Rights

RNS Number : 0909J

discoverIE Group plc

07 April 2020

 

7 April 2020

discoverIE Group plc ("discoverIE", the "Company")

Issue of Equity & Total Voting Rights

discoverIE Group plc (LSE: DSCV, "discoverIE" or the "Group"), a leading international designer, manufacturer and supplier of customised electronics to industry, announces that an application has been made for admission of 750,000 shares (the "New Ordinary Shares") to the premium listing segment of the Official List of the Financial Conduct Authority (the "FCA") and to trading on the main market of the London Stock Exchange (together "Admission"). It is expected that Admission will take place at 8.00 a.m. on 15 April 2020.  The New Ordinary Shares will be issued to the Company's Employee Benefit Trust to satisfy, inter alia, exercises of awards under option.  None of the Directors or PDMRs of the Company are exercising any such awards at the present time.

Total voting rights

Following Admission becoming effective, the Company's issued share capital will consist of 89,455,915 ordinary shares with voting rights.  Therefore, the total number of voting rights in the Company will be 89,455,915.  This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the disclosure guidance issued by the FCA and the transparency rules made by the FCA under section 89A(1) of the Financial Services and Markets Act 2000, as amended ("FSMA") (together, the "Disclosure Guidance and Transparency Rules").

Contacts

For further information please contact:

discoverIE	01483 544 500
Nick Jefferies, Group Chief Executive
Simon Gibbins, Group Finance Director
Instinctif (Financial PR)	020 7457 2020
Mark Garraway James Gray

Notes to Editors:

About discoverIE Group plc

discoverIE Group plc is an international group of businesses that designs, manufactures and supplies innovative components for electronic applications.

The Group provides application-specific components to original equipment manufacturers ("OEMs") internationally. By designing components that meet customers' unique requirements, which are then manufactured and supplied throughout the life of their production, a high level of repeating revenue is generated with long term customer relationships.

By focusing on key markets driven by structural growth and increasing electronic content, namely renewable energy, transportation, medical and industrial & connectivity, the Group aims to achieve organic growth that is well ahead of GDP and to supplement that with targeted complementary acquisitions.

The Group employs c.4,500 people and its principal operating units are located in Continental Europe, the UK, China, Sri Lanka, India and North America.

The Group is listed on the Main Market of the London Stock Exchange and is in the top quartile of the FTSE Small Cap Index, classified within the Electrical Components and Equipment subsector, and has revenues of over £400m. Over the last five years, revenue and underlying earnings per share have both more than doubled.

 

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