Vesting of DBP Shares and Issue of Equity
30 January 2024
Lords Group Trading plc
('Lords', the 'Company' or the 'Group')
Vesting of DBP Shares and Issue of Equity
Lords, a leading distributor of building materials in the UK, announces the issuance of 410,973 new ordinary shares of 0.5 pence each in the Company ("New Ordinary Shares") pursuant to the Group's 2021 Deferred Bonus Plan ("DBP"), which have now vested. There are no further awards capable of vesting under the DBP.
Accordingly, an application has been made for the New Ordinary Shares to be admitted to trading on the AIM Market of the London Stock Exchange ("Admission"), and it is expected that Admission will occur at 8.00 a.m. on 1 February 2024. The New Ordinary Shares will rank pari passu with the existing Ordinary Shares in issue. Following Admission of the new Ordinary Shares, the Company's issued ordinary share capital will comprise 165,943,822 Ordinary Shares, none of which are held in treasury.
Therefore, following Admission of the new Ordinary Shares, the total number of Ordinary Shares with voting rights in the Company will be 165,943,822, which may be used by Shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.
- Ends -
FOR FURTHER ENQUIRIES:
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Lords Group Trading plc |
Via Buchanan |
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Shanker Patel, Chief Executive Officer Chris Day, Chief Financial Officer and Chief Operating Officer |
Tel: +44 (0) 20 7466 5000 |
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Cavendish Capital Markets (Nominated Adviser and Joint Broker) |
Tel: +44 (0)20 7220 0500 |
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Ben Jeynes / Dan Hodkinson (Corporate Finance) |
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Julian Morse / Henry Nicol / Charlie Combe (Sales and ECM) |
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Berenberg (Joint Broker) Matthew Armitt / Richard Bootle / Detlir Elezi
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Tel: +44 (0)20 3207 7800 |
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Buchanan Communications |
Tel: +44 (0) 20 7466 5000 |
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Henry Harrison-Topham / Steph Whitmore / Abby Gilchrist
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Notes to editors:
Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public.
The Group operates through the following two divisions:
· Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 31 locations in the UK.
· Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering. The division operates over 17 locations enabling nationwide next day delivery service.
Lords was established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Group has grown to a business operating from 48 sites. Lords aims to become a £500 million turnover building materials distributor group by 2024 as it grows its national presence.
Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L. For additional information please visit www.lordsgrouptradingplc.co.uk.
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