Information  X 
Enter a valid email address

Accrol Group Hldgs (ACRL)

  Print   

Friday 20 November, 2020

Accrol Group Hldgs

Result of Open Offer

RNS Number : 9449F
Accrol Group Holdings PLC
20 November 2020
 

20 November 2020

 

The information contained within this announcement is deemed by the Company to constitute inside information stipulated under the Market Abuse Regulation (EU) No. 596/2014.  Upon the publication of this announcement via the Regulatory Information Service, this inside information is now considered to be in the public domain.

 

Accrol Group Holdings plc

("Accrol"or the "Company")

AIM: ACRL

 

Result of Open Offer

 

Accrol Group Holdings plc, a leading independent tissue converter in the UK, announces that the open offer to raise up to c.£4.1 million (before expenses) described in the circular published by the Company dated 4 November 2020 ("Circular") closed for acceptances at 11.00 a.m. on 19 November 2020 in accordance with its terms and was oversubscribed. The Company reports that it has received valid applications in respect of a total of 16,775,752 new ordinary shares of £0.001 in the Company ("New Ordinary Shares"), representing a percentage take up of 180.4 per cent. of the New Ordinary Shares available under the Open Offer.

 

9,297,454 New Ordinary Shares were available under the Open Offer. Conditional on the Resolutions being duly passed at the Company's General Meeting which is scheduled for 10:00 a.m. today, all Qualifying Shareholders who applied for some or all of their Basic Entitlement to New Ordinary Shares under the Open Offer will have those applications satisfied in full and Qualifying shareholders who, in addition to applying in full for their Basic Entitlement to New Ordinary Shares under the Open Offer, applied for New Ordinary Shares under the Excess Application Facility will have their applications under that facility satisfied on a pro rata basis.

 

The aggregate amount to be raised pursuant to the Open Offer is approximately £4.1 million (before expenses) and application has been made for 9,297,454 New Ordinary Shares ("Open Offer Shares") to be issued and allotted by the Company pursuant to the Open Offer to be admitted to trading on AIM ("Admission"), conditional on the Resolutions being duly passed, It is expected that Admission and dealings in the Open Offer Shares will commence at 8.00 a.m. on 23 November 2020.

 

The capitalised terms used in this announcement have the same meanings as in the Circular, unless otherwise stated.

 

For further information, please contact:




Accrol Group Holdings plc


Dan Wright, Executive Chairman

Via Belvedere Communications

Gareth Jenkins, Chief Executive Officer




Zeus Capital Limited (Nominated Adviser & Broker) 


Dan Bate / Jordan Warburton

Tel: +44 (0) 161 831 1512

Dominic King / John Goold

Tel: +44 (0) 203 829 5000



Liberum Capital Limited (Joint Broker)

Tel: +44 (0) 20 3100 2222

Clayton Bush / Edward Thomas




Belvedere Communications Limited


Cat Valentine

Tel: +44 (0) 7715 769 078

Keeley Clarke

Tel: +44 (0) 7967 816 525

Llew Angus

Tel:  +44 (0) 7407 023 147


[email protected]

 

Notes to Editors

 

Accrol Group Holdings plc, based in Lancashire, is a leading tissue converter and supplier of toilet tissues, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK. The business operates from four sites in Lancashire:

 

·

A manufacturing, storage, and distribution facility in Blackburn;

·

A storage and administrative centre in Blackburn;

·

A facial tissue plant, also in Blackburn; and

·

A manufacturing, storage, and distribution facility in Leyland.

 

For more information, please visit www.accrol.com .

 

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 [email protected] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
END
 
 
ROIGPGRCGUPUGBB

a d v e r t i s e m e n t