Exercise of Warrants & Issue of Equity

RNS Number : 9851H

Harland & Wolff Group Holdings PLC

29 November 2022

 

29 November 2022

Harland & Wolff Group Holdings plc

("Harland & Wolff" or the "Company")

Exercise of Warrants & Issue of Equity

Harland & Wolff Group Holdings plc (AIM: HARL), the UK quoted company focused on strategic infrastructure projects and physical asset lifecycle management, announces the issue of equity pursuant to an exercise of warrants.

The Company has received a notice from YA II PN Ltd. (on behalf of Riverfort Global Opportunities) to exercise outstanding warrants over a total of 877,193 new ordinary shares of 1 penny each in the Company ("Ordinary Shares") at an exercise price of 14.25p per share.

Accordingly, application will be made for 877,193 new Ordinary Shares to be admitted to trading on AIM which is expected to occur on or around 8.00am on 02 December 2022 ("Admission"). These shares, when issued, will rank pari passu in all respects with the existing Ordinary Shares.

Following Admission, the Company's enlarged issued share capital will comprise 173,047,211 Ordinary Shares of 1 penny each. The Company does not hold any shares in treasury. Accordingly, this number (173,047,211) will represent the total voting rights in the Company and may be used by shareholders as the denominator for the calculation by which they can determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.

For further information, please visit    www.harland-wolff.com    or contact:

Harland & Wolff Group Holdings plc John Wood, Chief Executive Officer Seena Shah, Head of Marketing & Communications	[phone] [e-mail]     [e-mail]
Cenkos Securities plc (Nominated Adviser & Broker) Stephen Keys / Callum Davidson / Dan Hodkinson (Corporate Finance) Michael Johnson (Sales)	[phone]

About Harland & Wolff

Harland & Wolff is a multisite fabrication company, operating in the maritime and offshore industry through five markets: commercial, cruise and ferry, defence, energy and renewables and six services: technical services, fabrication and construction, decommissioning, repair and maintenance, in-service support and conversion. 

Its Belfast yard is one of Europe's largest heavy engineering facilities, with deep water access, two of Europe's largest drydocks, ample quayside and vast fabrication halls. As a result of the acquisition of Harland & Wolff (Appledore) in August 2020, the company has been able to capitalise on opportunities at both ends of the ship-repair and shipbuilding markets where there will be significant demand.

In February 2021, the company acquired the assets of two Scottish-based yards along the east and west coasts. Now known as Harland & Wolff (Methil) and Harland & Wolff (Arnish), these facilities will focus on fabrication work within the renewables, energy and defence sectors.

In addition to Harland & Wolff, it owns the Islandmagee gas storage project, which is expected to provide 25% of the UK's natural gas storage capacity and to benefit the Northern Irish economy as a whole when completed.

 

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