Issue of Equity

RNS Number : 4414X

Epwin Group PLC

21 February 2017

 

Epwin Group Plc

Issue of Shares - earnout consideration Vannplastic Limited (trading as "Ecodek")

Epwin Group plc ("Epwin", "Group", "Company"), the vertically integrated manufacturer of low maintenance building products, supplying the Repair, Maintenance, Improvement ("RMI"), new build and social housing sectors, announces that following successful integration into the Group, the earnout consideration payable in respect of the October 2015 acquisition of Vannplastic Limited, trading as "Ecodek", has been agreed at £3.3 million, £2,310,000 payable in cash and £990,000 in shares. As a result the Company will issue 917,082 ordinary shares of 0.05p each at a price of 107.95 pence per share.

The earnout consideration shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 0.05 pence each in the capital of the Company in issue. The earnout consideration shares are subject to a lock-in arrangement under which the Company must agree to any sale of these shares prior to 30 June 2017.

Application will be made for the newly issued shares to be admitted to trading on AIM, and admission is expected to take place on 27 February 2017. Following admission, the Company's issued share capital will consist of 142,449,484 ordinary shares. There are no ordinary shares held in treasury. Therefore, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that following Admission, the total number of voting rights in the Company will be 142,449,484.

Contact information

Epwin Group Plc Jon Bednall, Chief Executive Chris Empson, Group Finance Director	0203 128 8100
Zeus Capital Limited (Nomad and Joint Broker) Nick Cowles / Andrew Jones / Jamie Peel John Goold / Dominic King	0161 831 1512 0203 829 5000
Panmure Gordon (UK) Limited (Joint Broker) Erik Anderson / Andrew Potts MHP Communications Jamie Ricketts / Charlie Barker / Rossina Garcia Izaguirre	0207 886 2500 0203 128 8100

 

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