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Share Name Share Symbol Market Type Share ISIN Share Description
Accrol Group Holdings Plc LSE:ACRL London Ordinary Share GB00BZ6VT592 ORD GBP0.001
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 49.50 49.00 50.00 49.50 49.50 49.50 39,993 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Household Goods & Home Construction 134.8 -1.9 -0.8 - 154

Accrol Group Holdings PLC Result of Open Offer

20/11/2020 7:00am

UK Regulatory (RNS & others)


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RNS Number : 9449F

Accrol Group Holdings PLC

20 November 2020

20 November 2020

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

Accrol Group Holdings plc

("Accrol"or the "Company")

AIM: ACRL

Result of Open Offer

Accrol Group Holdings plc, a leading independent tissue converter in the UK, announces that the open offer to raise up to c.GBP4.1 million (before expenses) described in the circular published by the Company dated 4 November 2020 ("Circular") closed for acceptances at 11.00 a.m. on 19 November 2020 in accordance with its terms and was oversubscribed. The Company reports that it has received valid applications in respect of a total of 16,775,752 new ordinary shares of GBP0.001 in the Company ("New Ordinary Shares"), representing a percentage take up of 180.4 per cent. of the New Ordinary Shares available under the Open Offer.

9,297,454 New Ordinary Shares were available under the Open Offer. Conditional on the Resolutions being duly passed at the Company's General Meeting which is scheduled for 10:00 a.m. today, all Qualifying Shareholders who applied for some or all of their Basic Entitlement to New Ordinary Shares under the Open Offer will have those applications satisfied in full and Qualifying shareholders who, in addition to applying in full for their Basic Entitlement to New Ordinary Shares under the Open Offer, applied for New Ordinary Shares under the Excess Application Facility will have their applications under that facility satisfied on a pro rata basis.

The aggregate amount to be raised pursuant to the Open Offer is approximately GBP4.1 million (before expenses) and application has been made for 9,297,454 New Ordinary Shares ("Open Offer Shares") to be issued and allotted by the Company pursuant to the Open Offer to be admitted to trading on AIM ("Admission"), conditional on the Resolutions being duly passed, It is expected that Admission and dealings in the Open Offer Shares will commence at 8.00 a.m. on 23 November 2020.

The capitalised terms used in this announcement have the same meanings as in the Circular, unless otherwise stated.

 
For further information, please contact: 
 
Accrol Group Holdings plc 
Dan Wright, Executive Chairman                     Via Belvedere Communications 
Gareth Jenkins, Chief Executive Officer 
 
Zeus Capital Limited (Nominated Adviser & Broker) 
Dan Bate / Jordan Warburton                           Tel: +44 (0) 161 831 1512 
Dominic King / John Goold                             Tel: +44 (0) 203 829 5000 
 
Liberum Capital Limited (Joint Broker)                Tel: +44 (0) 20 3100 2222 
Clayton Bush / Edward Thomas 
 
Belvedere Communications Limited 
Cat Valentine                                             Tel: +44 (0) 7715 769 
                                                                            078 
Keeley Clarke                                             Tel: +44 (0) 7967 816 
                                                                            525 
Llew Angus                                                Tel: +44 (0) 7407 023 
                                                                            147 
                                                       accrolpr@belvederepr.com 
 

Notes to Editors

Accrol Group Holdings plc, based in Lancashire, is a leading tissue converter and supplier of toilet tissues, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK. The business operates from four sites in Lancashire:

 
--  A manufacturing, storage, and distribution facility in Blackburn; 
--  A storage and administrative centre in Blackburn; 
--  A facial tissue plant, also in Blackburn; and 
--  A manufacturing, storage, and distribution facility in Leyland. 
 

For more information, please visit www.accrol.com .

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

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November 20, 2020 02:00 ET (07:00 GMT)

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