Statement regarding potential acquisition

RNS Number : 5498P

Wilmcote Holdings PLC

11 October 2019

 

11 October 2019                    

This announcement contains inside information 

Wilmcote Holdings plc

Statement regarding potential acquisition

Wilmcote Holdings plc ('Wilmcote' or the 'Company') announces that, further to its recent statements regarding a potential acquisition of Arclin Inc. ('Arclin'), the Company and Arclin have mutually agreed to conclude negotiations and, as such, discussions have ceased.

In line with the Company's mandate to pursue acquisition opportunities, Wilmcote has incurred material third party expenses in connection with this opportunity. The Company estimates it will have approximately £0.9 million in residual cash reserves following the settlement of negotiated transaction-related expenses, including associated VAT refunds.

Wilmcote intends to hold discussions with shareholders regarding the potential further capitalisation of the Company to fund future operating expenses and due diligence to continue to pursue acquisition opportunities in the specialty chemicals sector. A further announcement will be made following the conclusion of these discussions.

Wilmcote's ordinary shares will recommence trading with immediate effect.

-ENDS-

Teneo (Financial PR)

Tel: [phone]
Charles Armitstead

Numis Securities Limited (Nominated Adviser and Broker)

Tel: [phone]

Kevin Cruickshank

Jamie Loughborough

Adrian Whitfield is Chief Executive Officer of Wilmcote Holdings plc, which has its offices at 11 Buckingham Street, London, WC2N 6DF and has the LEI number 2138004EUUU11OVHZW75.

 

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