Issue of Equity

RNS Number : 2965R

600 Group PLC

20 September 2017

 

20 September 2017

The 600 Group Plc

("The Company")

Issue of Equity

The 600 Group PLC, the AIM listed distributor, designer and manufacturer of industrial products, is pleased to announce that it has  raised £1.12m before expenses by way of a direct subscription with the Company of 8,615,384 new ordinary shares of 1p each ("Ordinary Shares") at an issue price of 13p per share (the "Subscription Shares") (the "Subscription"). 

It is intended that the proceeds of the Subscription will be used to reduce UK bank borrowings and provide working capital for the Company.

Completion of the Subscription is conditional on admission of the Subscription Shares to trading on AIM ("Admission"). Application will be made for the Subscription Shares to be admitted to trading on AIM and it is expected that Admission will take place on or around 28 September 2017.

Following Admission, the Company will have 112,973,341 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares in the Company with voting rights will therefore be 112,973,341.

The above 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 share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries:
The 600 Group PLC	Tel: [phone]
Paul Dupee, Executive Chairman
Neil Carrick, Finance Director
Spark Advisory Partners Limited (NOMAD)	Tel: [phone]
Matt Davis/ Miriam Greenwood
Cadogan PR Limited (Financial PR)	Tel: [phone]
Alex Walters
FinnCap (Broker)	Tel: [phone]
Tony Quirke/Mia Gardiner (Sales/Broking)

More information on the Group can be viewed at: www.600group.com

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

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