Premier Technical Services Grp PLC Issue of Equity and Total Voting Rights (2859Q)

TIDMPTSG

RNS Number : 2859Q

Premier Technical Services Grp PLC

11 September 2017

11 September 2017

Premier Technical Services Group PLC

("PTSG" or the "Company")

Issue of Equity and Total Voting Rights

PTSG, the niche specialist services provider, announces that on 13 September 2017 the Company will issue 510,386 ordinary shares of 1 penny each in the Company ("Ordinary Shares") to the vendors of UK Dry Risers Ltd ("UKDR"), the dry risers business acquired in July 2016, in settlement of the deferred consideration for the acquisition.

Under the terms of the SPA the deferred consideration of GBP0.9m was to be paid solely in cash, however, the vendors requested that it be paid in shares, showing their confidence in the Group. The share issuance reflects an effective price per share of 168.5p.

In relation to the above, an application has been made to the London Stock Exchange for 510,386 new ordinary shares, which rank pari passu with the existing ordinary shares, to be admitted to trading on AIM on or around 13 September 2017.

Following this issue and allotment, the Company's issued share capital comprises of 104,521,660 Ordinary Shares. The Company does not hold any Ordinary Shares in treasury. The figure of 104,521,660 should 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 of their interest in, the Company under the FCA's Disclosure and Transparency Rules.

Paul Teasdale, CEO of PTSG, said:

"We warmly welcome Mike and Julie Charlton as shareholders of PTSG following their request that the deferred consideration be paid in shares. The business has performed well with the full deferred consideration being paid following the business achieving the stretching milestones set at the time of the acquisition."

For further information, please contact:

 
PTSG                                                 [phone] 
Paul Teasdale, Chief Executive Officer 
Numis Securities                                     [phone] 
Stuart Skinner / Kevin Cruickshank / Michael Burke 
Hudson Sandler                                       [phone] 
Charlie Jack 
 

About PTSG - www.ptsg.co.uk

Premier Technical Services Group PLC is the UK's leading provider of façade access and fall arrest equipment services, lightning protection and electrical testing, high-level cleaning and training solutions.

Operating through four divisions, Access & Safety, Electrical Services, High Level Cleaning and Training Solutions, the Group provides highly-engineered industrial products and quality services and has a substantial presence in a number of niche markets.

PTSG provides a central information service for its businesses and champions the dissemination of key information and best practice. PTSG unites its constituent businesses under one clear identity, which supports smarter working and delivers top class service to its customers.

Headquartered in Castleford, West Yorkshire, the Group employs more than 600 people across 17 UK sites, who service more than 150,000 buildings across the whole of the UK for over 17,000 customers in a wide range of industries. The Company is listed on the LSE AIM (PTSG.L)

This information is provided by RNS

The company news service from the London Stock Exchange

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September 11, 2017 02:00 ET (06:00 GMT)