Issue of Shares - earnout consideration Stormking

RNS Number : 8713I

Epwin Group PLC

22 June 2017

 

Epwin Group Plc

Issue of Shares - earnout consideration Stormking Plastics Limited (trading as "Stormking")

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 the earnout consideration payable in respect of the December 2015 acquisition of Stormking Plastics Limited, trading as "Stormking", has been agreed at £2,138,926, £1,604,194.56 payable in cash and £534,731.52 in shares. As a result, the Company will issue 460,019 ordinary shares of 0.05p each at a price of 116.24 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 for a period of six months from date of issue.

Application will be made for the newly issued shares to be admitted to trading on AIM, and admission is expected to take place on 28 June 2017. Following admission, the Company's issued share capital will consist of 142,918,762 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 142,918,762.

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 Charlie Barker / Rossina Garcia Izaguirre	0207 886 2500 0203 128 8100

 

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