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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Scs Group Plc | LSE:SCS | London | Ordinary Share | GB00BRF0TJ56 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 270.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSCS
RNS Number : 3915S
ScS Group PLC
06 November 2019
6 November 2019
ScS Group plc
("ScS", or the "Company")
Purchase of Own Shares
ScS, one of the UK's largest retailers of upholstered furniture and floorings, announces that further to its announcement on 5 November 2019, it confirms that it has agreed to participate in the l sell-down of existing ordinary shares of 0.1 pence each in the Company ("Ordinary Shares") (the "Placing") by Parlour Product Holdings (LUX) S.A.R.L (the "Seller"). The Seller is a related party of the Company under Chapter 11 of the Listing Rules.
ScS has (via Shore Capital Stockbrokers Limited) agreed to acquire 1,996,454 Ordinary Shares in the Placing at a price of 220 pence per shares resulting in total consideration by the Company of GBP4,392,198.80 (the "Transaction"). It is anticipated that the Transaction will complete on 8 November 2019. The Transaction was carried out within the parameters of the Company's buyback authority approved at the Company's Annual General Meeting on 21 November 2018.
The Ordinary Shares purchased by the Company will be cancelled. Following the cancellation, the Company's issued share capital will consist of 38,012,655 Ordinary Shares, each with one voting right. The total number of voting rights will therefore be 38,012,655.
The Transaction falls within Listing Rule 11.1.10R (smaller related party transactions) and this announcement is made in accordance with Listing Rule 11.1.10R(c).
Enquiries:
ScS Group PLC c/o Buchanan +44 (0)20 7466 David Knight, Chief Executive Officer 5000 Chris Muir, Chief Financial Officer Buchanan Tel: +44 (0)20 7466 5000 Richard Oldworth scs@buchanan.uk.com Tilly Abraham Shore Capital Tel: +44 (0)207 408 4050 Patrick Castle James Thomas Sarah Mather
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.
END
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(END) Dow Jones Newswires
November 06, 2019 02:15 ET (07:15 GMT)
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