Allotment of shares

RNS Number : 5665X

Inspecs Group PLC

06 January 2022

 

06 January 2022

Inspecs Group plc

(the "Company")

Allotment of shares

The Company announces that it has issued 380,627 new ordinary shares of 1 pence each in the Company ("Ordinary Shares"), pursuant to an exercise of share options granted to certain employees on 10 December 2019 at an exercise price of $1.2739 USD per share. Application has been made to the London Stock Exchange for the 380,627 new Ordinary Shares to be admitted to trading on AIM.

It is expected that admission will become effective and dealings in the new Ordinary Shares will commence on 7 January 2022. The new Ordinary Shares will rank pari passu with the existing Ordinary Shares in the Company.

Following admission of the 380,627 new Ordinary Shares, the Company's issued share capital will consist of 101,671,525 Ordinary Shares with voting rights and that 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 the interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

For further information please contact:

Inspecs Group plc	via FTI Consulting
Robin Totterman (CEO)	Tel: [phone]
Chris Kay (CFO)
Peel Hunt (Nominated Adviser and Broker)	Tel: [phone]
Adrian Trimmings
Andrew Clark
Lalit Bose
FTI Consulting (Financial PR)	Tel: [phone]
Alex Beagley
Alice Newlyn

About Inspecs Group plc

INSPECS is a Bath-based designer, manufacturer and distributor of eyewear frames and optically advanced spectacle lenses. The Group produces a broad range of frames and lenses, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded).

In December 2020, INSPECS acquired Eschenbach, a leading, global, eyewear supplier headquartered in Nuremberg, Germany, which includes the American company Tura. The acquisition extended the Group's presence internationally in key global markets. This followed the acquisition of lens maker Norville in July 2020, whereby INSPECS combined two heritage brands in British optical, Savile Row frame maker, and Norville lens maker, further enhancing its vertically integrated business model. As one of only a few companies that can offer this one-stop-shop solution to global retail chains, INSPECS is well positioned to continue to take market share in the globally expanding eyewear market.

INSPECS customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 70,000 points of sale.

INSPECS has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, the UK and Italy. With the acquisition of Eschenbach, the Group's international reach further extends across Europe and the American markets.

The Group's growth strategy going forward is to: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.

More information is available at www.INSPECS.com

 

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