Completion of Acquisition of MC Electronics LLC

RNS Number : 4291M

Volex PLC

27 April 2018

 

Completion of Acquisition of MC Electronics LLC

27 April 2018

Further to the announcement on 26 April 2018 of the proposed acquisition of MC Electronics LLC by Volex plc (the "Acquisition"), Volex announces that 2,999,999 ordinary shares in the Company have been issued and allotted to Nova Shell LP and 1 ordinary share has been issued and allotted to Shell Topco LP, both being funds advised by Nova Capital Management Ltd, to satisfy the initial consideration of the transaction.

Application has been made to the London Stock Exchange for the admission of 3,000,000 new ordinary shares to trading on AIM ("Admission"). Admission of the new shares, being the only outstanding condition to completion of the Acquisition, is expected to take place at 8.00am on 30 April 2018. Completion of the Acquisition shall take place automatically immediately following Admission.  

The company's total issued share capital following Admission will consist of 93,251,892 ordinary shares of 25 pence each with one voting right per share.  The Company holds 1,295,360 ordinary shares in treasury therefore the number of ordinary shares in issue less the total number of treasury shares following admission will be 91,956,532.

Enquiries

For further information please contact: 

Volex plc	Tel: [phone]
Nat Rothschild, Executive Chairman
Daren Morris, CFO

Liberum

(Nominated Adviser & Broker)             Tel: [phone]

Steve Pearce

Euan Brown

 

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