Epwin Group PLC Issue of Shares - earnout consideration Stormking (8713I)

TIDMEPWN

RNS Number : 8713I

Epwin Group PLC

22 June 2017

Epwin Group Plc

Issue of Shares - earnout consideration Stormking Plastics Limited (trading as "Stormking")

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 the earnout consideration payable in respect of the December 2015 acquisition of Stormking Plastics Limited, trading as "Stormking", has been agreed at GBP2,138,926, GBP1,604,194.56 payable in cash and GBP534,731.52 in shares. As a result, the Company will issue 460,019 ordinary shares of 0.05p each at a price of 116.24 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 for a period of six months from date of issue.

Application will be made for the newly issued shares to be admitted to trading on AIM, and admission is expected to take place on 28 June 2017. Following admission, the Company's issued share capital will consist of 142,918,762 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 142,918,762.

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 
                                  0207 886 2500 
  MHP Communications 
  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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June 22, 2017 05:00 ET (09:00 GMT)