Issue of Equity

RNS Number : 6572B

Knights Group Holdings PLC

03 February 2020

 

3 February 2020

Knights Group Holdings plc

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

Issue of Equity

Knights Group Holdings plc, one of the UK's fastest growing legal and professional services businesses, today announces that it has issued 869,983 new ordinary shares of 0.2 pence in Knights as follows:

Consideration Shares

As detailed in a separate acquisition announcement this morning, 163,086 new ordinary shares in Knights have been issued as consideration to the corporate shareholders of Croftons Solicitors LLP ("Croftons"), a specialist housing, regeneration and commercial real estate law firm in Manchester.   

Exercise of Warrants

Numis Securities Limited has exercised its warrant rights (the "Warrants") over 706,897 ordinary shares in the Company of 0.2 pence each that have been in place since IPO in June 2018 and which represent 0.94% of the Company's enlarged share capital.  235,633 of these New Ordinary Shares were exercised at an allotment price of 145 pence per share, 235,632 were exercised at an allotment price of 174 pence per share, and 235,632 were exercised at an allotment price of 203 pence per share.  Consequently, 706,897 new ordinary shares in Knights have been issued to Numis, generating cash proceeds of £1.23m for the Company.

Application has been made to the London Stock Exchange for the admission of 869,983 new ordinary shares in Knights to trading on AIM. Admission is expected to take place at 8.00am on 4 February 2020. The Company's total issued share capital following admission will consist of 74,998,500 ordinary shares of 0.2 pence each with one voting right per share. 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 to their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

Ends

Enquiries 

Knights
David Beech, CEO	via MHP Communications
Numis (Nominated Adviser and Broker)
Stuart Skinner, Kevin Cruickshank, Michael Burke	[phone]
MHP Communications (Media enquiries)
Andrew Jaques, Katie Hunt, Rachel Mann	[phone] [e-mail]

Notes to Editors

Knights is a fast-growing, legal and professional services business, ranked within the UK top 100 largest law firms by revenue. Knights was one of the first law firms in the UK to move from the traditional partnership model to a corporate structure in 2012 and has since grown rapidly. Knights has specialists in all of the key areas of corporate and commercial law so that it can offer end-to-end support to businesses of all sizes and in all sectors. It is focussed on key UK markets outside London and currently operates from ten offices located in Birmingham, Cheltenham, Chester, Derby, Leicester, Manchester, Oxford, Stoke, Wilmslow and York.

 

END

 

 

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