Epwin Group PLC Issue of Equity (4414X)

TIDMEPWN

RNS Number : 4414X

Epwin Group PLC

21 February 2017

Epwin Group Plc

Issue of Shares - earnout consideration Vannplastic Limited (trading as "Ecodek")

Epwin Group plc ("Epwin", "Group", "Company"), the vertically integrated manufacturer of low maintenance building products, supplying the Repair, Maintenance, Improvement ("RMI"), new build and social housing sectors, announces that following successful integration into the Group, the earnout consideration payable in respect of the October 2015 acquisition of Vannplastic Limited, trading as "Ecodek", has been agreed at GBP3.3 million, GBP2,310,000 payable in cash and GBP990,000 in shares. As a result the Company will issue 917,082 ordinary shares of 0.05p each at a price of 107.95 pence per share.

The earnout consideration shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 0.05 pence each in the capital of the Company in issue. The earnout consideration shares are subject to a lock-in arrangement under which the Company must agree to any sale of these shares prior to 30 June 2017.

Application will be made for the newly issued shares to be admitted to trading on AIM, and admission is expected to take place on 27 February 2017. Following admission, the Company's issued share capital will consist of 142,449,484 ordinary shares. There are no ordinary shares held in treasury. Therefore, in accordance with the FCA's Disclosure and Transparency Rule 5.6.1, the Company confirms that following Admission, the total number of voting rights in the Company will be 142,449,484.

Contact information

 
 Epwin Group Plc 
  Jon Bednall, Chief Executive 
  Chris Empson, Group Finance 
  Director                        0203 128 8100 
 Zeus Capital Limited (Nomad 
  and Joint Broker) 
  Nick Cowles / Andrew Jones 
   / Jamie Peel                    0161 831 1512 
  John Goold / Dominic King         0203 829 5000 
 Panmure Gordon (UK) Limited 
  (Joint Broker) 
  Erik Anderson / Andrew 
  Potts 
 
  MHP Communications              0207 886 2500 
  Jamie Ricketts / Charlie 
  Barker / Rossina Garcia 
  Izaguirre                        0203 128 8100 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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February 21, 2017 06:17 ET (11:17 GMT)