Tanfield Group PLC Issue of shares (7528A)

TIDMTAN

RNS Number : 7528A

Tanfield Group PLC

31 May 2019

Tanfield Group PLC

("Tanfield" or the "Company")

Issue of shares

Tanfield announces that it has raised a total of GBP225,000 through the placing of 4,500,000 ordinary shares of 5p each (the "Placing Shares") at a price of 5p per share (the "Placing") from existing investors. The placing price represents a discount of approximately 4% on the closing market share price of 5.22p on 28 May 2019. The funds will be used to meet the ongoing running costs of the Company.

The Placing Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 5p each ("Ordinary shares") in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid in respect of such shares after the date of issue of the Placing Shares.

It is expected that the Company will apply for admission of the Placing Shares to trading on AIM, a market operated by the London Stock Exchange plc (the "Admission") and that Admission will take place and that trading in the Placing Shares will commence on or around 6 June 2019. The Placing is conditional upon Admission becoming effective.

Following Admission, the Company's enlarged issued share capital will comprise 162,906,850 Ordinary Shares. The Company holds no shares in treasury. Therefore the total number of Ordinary Shares with voting rights is 162,906,850, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.

For further information:

Tanfield Group Plc 020 7220 1666

Daryn Robinson

WH Ireland Limited - Nominated Advisor / Broker

   James Joyce / Lydia Zychowska                                                   020 7220 1666 

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May 31, 2019 05:08 ET (09:08 GMT)