Issue of Equity

RNS Number : 1371H

Sprue Aegis plc

27 November 2015

 

27 November 2015

Sprue Aegis plc 

("Sprue", the "Company" or the "Group")

ISSUE OF EQUITY

The Company announces that application has been made for the admission to trading on AIM ("Admission") for 8,401 new ordinary shares of 2 pence each in the Company ("Shares") pursuant to the exercise of employee share options.  Admission of the new Shares to trading on AIM is expected to occur on 2 December 2015.

The new Shares rank pari passu with the Company's existing issued ordinary shares of 2 pence each.  Following Admission, the Company's issued share capital will comprise 45,845,993 Shares carrying voting rights.  This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interests in, the Company under the FCA's Disclosure and Transparency Rules. 

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For further information, please contact:

Sprue Aegis plc	02477 717700
Graham Whitworth, Executive Chairman Neil Smith, Group Chief Executive John Gahan, Group Finance Director
Westhouse Securities	0207 601 6100
Tom Griffiths

Notes to Editors

About Sprue Aegis plc

Sprue's mission is to protect, save and improve our customers' lives by making innovative, leading edge technology simple and accessible.

Sprue is one of the market leaders in the European home safety products market.  Its principal products are smoke alarms and CO alarms and accessories and the Group has an extensive portfolio of patented intellectual property. Sprue has patented its technology in Europe, the US and other selected territories. 

The introduction of new technologically advanced products and new safety products legislation in the UK and in Europe, and increasing levels of awareness of the dangers of smoke and CO, continue to drive sales.

Sprue manufactures CO sensors at its subsidiary, Pace Sensors for use in its CO alarms.  All other manufacturing and product assembly is outsourced to two principal third party contract manufacturers in China, one of which is Jarden Corporation which owns 23.6% of the Group and Pace Technology Limited which is independent from Jarden Corporation.

Sprue enjoys a leading sales footprint in UK Retail and is a major supplier to the UK's Fire & Rescue Services.  The Group also supplies the UK's Utility and Leisure sector which includes customers such as British Gas and Scottish Gas and has a well-established but relatively low market share of the UK Trade sector.   Sprue has a well established business in Continental Europe mainly selling through a network of independently owned third party distributors and some sales direct to customers.

The Group has won a number of prestigious Sunday Times Virgin Fast Track 100 Awards, which recognises the 100 fastest growing companies in the UK.  Sprue's head office is in Coventry and it has a second office in Gloucester.   Warehousing is located in Cambridge and Gloucester.

Sprue's range of products is comprehensive, allowing the Group to tailor a range of smoke alarms, CO alarms and accessories to suit its customer needs at various price points under the following brands:

Ø  FireAngel.  A market-leading and innovative battery operated alarm principally targeted at UK Retail and UK F&RS

Ø  AngelEye.  Launched in 2012, Sprue sells smoke alarms and CO detectors principally into the French market under the AngelEye brand. AngelEye has become a leading brand targeted at the DIY channel in France

Ø  SONA.  A new, low power mains powered range of smoke and heat alarm products plus CO detection that are market leading and which can be wirelessly interconnected with up to 50 products on a single network

Ø  FireAngel Pro.  Mains-powered smoke alarm with a 10 year, sealed for life lithium battery back-up.  Modern design, quick fitting, tamper-proof mounting plate which locks the alarm head securely in place.  Mounting plate has wide, easily accessible connection to the mains feed. Cable knock-out allows for compatibility with YT2 cable trunking

Ø  Pace Sensors.  CO sensors used within Sprue's CO products are developed by Sprue and Pace Sensors, Sprue's wholly owned subsidiary in Canada. Pace Sensors' CO sensors are used within all FireAngel, AngelEye and Pace Sensors' CO detectors and certain First Alert branded CO detectors

Sprue has the exclusive rights to distribute the products and brands of BRK Brands (a subsidiary of Jarden Corporation) in Europe namely, First Alert, BRK and Dicon.  First Alert is one of the leading safety products brands in North America.

For further product information, please visit:  www.sprue.com.

 

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