Share Name Share Symbol Market Type Share ISIN Share Description
Epwin Grp LSE:EPWN London Ordinary Share GB00BNGY4Y86 ORD 0.05P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.70p -0.88% 78.60p 78.90p 80.90p 79.30p 78.60p 79.30p 8,902 11:39:49
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 298.3 12.0 7.1 11.1 112.34

Epwin Group PLC Disposal and New Supply Agreement

19/12/2017 7:00am

UK Regulatory (RNS & others)

Epwin Grp (LSE:EPWN)
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RNS Number : 7119Z

Epwin Group PLC

19 December 2017

19 December 2017

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.

Epwin Group Plc

("Epwin" or the "Group")

Disposal and New Supply Agreement

Epwin Group Plc, the low maintenance building products manufacturer, supplying businesses in the Repair, Maintenance and Improvement ("RMI"), new build and social housing sectors, announces that it has disposed of one of its subsidiaries, Indigo Products Limited to Indigo Acquisitions Limited.


The disposal of Indigo Products Limited ('Indigo'), for total consideration of GBP1 to Indigo Acquisitions Limited, follows the insolvency of Entu (UK) Plc earlier this year. Indigo was primarily engaged in fabricating window frames for Entu (UK) plc, prior to that business entering administration. During the 10 month period to 31 October 2017, Indigo had revenues of GBP12.6 million and a loss before tax of GBP2.7 million. Gross and net assets disposed of were GBP1.3m and GBP0.2m respectively. Alongside the transaction, a new three year exclusive supply agreement for extruded plastic products has been agreed with the purchaser, the benefits of which will depend upon future order quantities.

Related Party Transactions

The Purchaser, Indigo Acquisitions Limited, is wholly owned by Brian Kennedy, who is also a shareholder of Epwin Group Plc. Consequently, these events represent related party transactions pursuant to Rule 13 of the AIM Rules for Companies. Epwin's directors consider, having consulted with its nominated adviser, that the terms of both the disposal transaction and the supply agreement are fair and reasonable insofar as its shareholders are concerned and have been negotiated at arm's length in the best interests of the Group.

Jon Bednall, Chief Executive Officer, commented:

"The disposal of the Indigo business and the associated three year supply agreement draw a line under the Entu (UK) plc insolvency for Epwin. The disposal is also important as part of the ongoing appraisal and actions being taken in respect of our on-going fabrication activities.

"We remain confident in meeting market expectations for the year ending 31 December 2017."

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 / Jamie Peel                  0161 831 1512 
  John Goold / Dominic King                  0203 829 5000 
  Panmure Gordon (UK) Limited (Joint 
  Erik Anderson / Andrew Potts               0207 886 2500 
   MHP Communications 
   Reg Hoare / Charlie Barker                0203 128 8100 

This information is provided by RNS

The company news service from the London Stock Exchange



(END) Dow Jones Newswires

December 19, 2017 02:00 ET (07:00 GMT)

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