Issue of Equity

RNS Number : 8473V

Walker Crips Group plc

21 April 2016

 

21 April 2016

Walker Crips Group plc

Issue of Equity and Total Voting Rights

Further to its announcement of 9 March 2015 regarding the acquisition of Barker Poland Asset Management LLP ("BPAM"), Walker Crips Group plc ("Walker Crips" or the "Company"), the financial services group with activities including stockbroking, investment and wealth management, announces that an aggregate of 150,574 new ordinary shares in the capital of Company (the "Shares") have been issued and allotted to the Sellers of BPAM in order to satisfy the Company's obligations in connection with the payment of the year one BPAM deferred consideration. The BPAM business has met the targets required to trigger a payment by the Company of the full amount of the first of 3 potential payments of deferred consideration.

Under the terms of the agreement for the acquisition of BPAM, deferred consideration may become due in each of the first three years following completion, dependent on the results achieved by the legacy BPAM Business. All deferred consideration due under the agreement is payable 90% in cash and 10% in new ordinary shares in the Company. The cash element of the year one deferred consideration has been satisfied from the Company's existing cash resources.

Application is being made to the UK Listing Authority for the Shares to be admitted to the Official List, and application is being made to the London Stock Exchange for the Shares to be admitted to trading on its main market for listed securities. It is expected that such admission will become effective at 8.00 am on 25 April 2016 ("Admission").

In accordance with the Financial Conduct Authority's Disclosure and Transparency Rules, the Company notifies the market that following Admission, the Company's issued share capital will consist of 39,074,620 ordinary shares with a nominal value of 6 2/3 pence each ("Ordinary Shares") with each Ordinary Share carrying the right to one vote. The Company holds 750,000 Ordinary Shares in Treasury. Therefore, following Admission, the Company will have 38,324,620 Ordinary Shares in issue (excluding treasury shares) and, accordingly, the total number of voting rights in the Company will be 38,324,620.

The above figure 38,324,620 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, Walker Crips Group plc under the Financial Conduct Authority's Disclosure and Transparency Rules.

For further information contact:

Walker Crips Group plc                                                [phone]

Rodney FitzGerald, Chief Executive

Cantor Fitzgerald Europe                                              [phone]

Rishi Zaveri / Will Goode

Forward-Looking Statements

This Announcement contains (or may contain) certain forward-looking statements with respect to certain of the Company's current expectations and projections about future events. These statements, which sometimes use words such has "aim, "anticipate", "believe", "intend", "plan", "estimate", "expect" and words of a similar meaning, reflect the directors' beliefs and expectations and involve a number of risks, uncertainties and assumptions that could cause actual results and performance to differ materially from any expected future results or performance expressed or implied by the forward-looking statement. By their nature, forward-looking statements involve risk and uncertainty because they relate to future events and circumstances. Statements contained in this Announcement regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. The information contained in this Announcement is subject to change without notice and, except as required by applicable law, neither the Company, nor any member of its group, its Directors or its Financial Adviser assumes any responsibility or obligation to update publicly or review any of the forward-looking statements contained therein. Investors should not place undue reliance on forward-looking statements, which speak only as of the date of this Announcement. No statement in this Announcement is or is intended to be a profit forecast or to imply that the earnings of the Company for the current or future financial years will necessarily match or exceed the historical or published earnings of the Company.

 

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