Exercise of Warrant, Issue of new shares & TVR

Flowtech Fluidpower PLC

22 May 2024

 

Wednesday, 22 May 2024

Flowtech Fluidpower plc

("the Company")

Exercise of Warrant, Issue of New ordinary shares

and

Total Voting Rights

Flowtech Fluidpower plc (AIM: FLO), the specialist full-service supplier of technical fluid power products and services, announces that it has received notice from Zeus Capital Limited ("Zeus") to exercise its right to subscribe for 1.2 million new ordinary shares of 50 pence each in the Company ("Ordinary Shares") at 100 pence per Ordinary Share, pursuant to the warrant agreement dated 8 May 2014 between the Company and Zeus, the Company's Nominated Adviser and broker at the time of its admission to AIM. The warrant exercise has generated cash proceeds of £1.2m for the Company which will be used to reduce net debt.

Application will be made to the London Stock Exchange plc for the 1.2m new Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected that Admission will become effective, and that dealings in the New Ordinary Shares will commence on AIM at 8.00 a.m. on or around 28 May 2024.

Total Voting Rights

Following Admission, the total number of voting rights in the Company will be 62,875,173. The Company holds no shares in treasury. Shareholders may use this figure 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 FCA's Disclosure Guidance and Transparency Rules.

Enquiries Flowtech Fluidpower plc Roger McDowell, Non-Executive Chair Mike England, Chief Executive Officer Russell Cash, Chief Financial Officer Tel: [phone] Email: [e-mail]

To read more about the Group please visit: www.flowtechfluidpower.com.

Liberum (Nominated adviser and Sole Broker) Richard Lindley / Will King Tel: [phone]

TooleyStreet Communications (IR and media relations) Fiona Tooley Tel: [phone] or email: [e-mail]

 

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