Sanderson Group PLC Placing of New Shares and Total Voting Rights (1835A)

TIDMSND

RNS Number : 1835A

Sanderson Group PLC

22 December 2017

   FOR IMMEDIATE RELEASE                                                          22 DECEMBER 2017 

SANDERSON GROUP PLC

Placing of New Shares and Total Voting Rights

Sanderson Group plc ('Sanderson' or 'the Group'), the software and IT services business specialising in digital retail technology and enterprise software for businesses operating in the manufacturing, wholesale distribution and logistics sectors, announces that an application has been made to the London Stock Exchange for 2,096,436 new Sanderson 10p ordinary shares to be admitted to trading on AIM ('Admission'). It is expected that Admission will take place on 29 December January 2017.

Following the Group's announcement on 24 November 2017, regarding the acquisition of Anisa Consolidated Holdings Limited ('Anisa') for an enterprise value of GBP12.0 million, these new shares represent the final element of share consideration associated with this transaction. This will take the aggregate total number of consideration shares issued in respect of Anisa to 3,990,653 shares, of which all will be subject to a lock-in period of three years from the date of acquisition, which was 23 November 2017. As previously reported, further cash payments will be made of GBP1.05 million in respect of loan note repayments by October 2018 and GBP1.63 million of deferred consideration payable in three tranches. The final deferred payment of GBP500,000 is scheduled for April 2019 and is dependent on some pre-agreed trading performance criteria.

Following the Admission of the 2,096,436 new ordinary shares, the Group's issued share capital will comprise 59,061,321 ordinary shares of 10p each of which 6.75% are subject to the three-year lock-in period. The above figure of 59,061,321 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 Sanderson, under the Financial Conduct Authority's Disclosure and Transparency Rules.

Enquiries:

 
                                               0333 123 
 Sanderson Group plc                               1400 
 Christopher Winn, Chairman 
 Ian Newcombe, Chief Executive 
 Richard Mogg, Finance Director 
 
                                               020 7496 
 N+1 Singer (Nominated Adviser and Broker)         3000 
 Mark Taylor 
 
 Walbrook PR Limited                           0117 985 
  Paul Vann                                        8989 
                                               or 07768 
                                                 807631 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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December 22, 2017 02:00 ET (07:00 GMT)