Completion of the Disposal of Billi

Summary by AI ^BETAClose X

Strix Group Plc has completed the sale of its Billi business for approximately £105 million in net proceeds, resulting in net cash of around £35 million. The company plans to use these proceeds to repay existing debt and initiate a £10 million share buyback program, with further capital return strategies under review. Despite challenging market conditions, the Controls division has shown early signs of improvement following tariff adjustments, with the final quarter proving to be a critical trading period.

Disclaimer*

Strix Group PLC

30 January 2026

Strix Group Plc

("Strix", the "Group" or the "Company")

Completion of the Disposal of Billi

Further to its announcement on 19 December 2025, Strix Group Plc (AIM:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration, announces that, following satisfaction of the condition to completion under the terms of the sale and purchase agreement entered into on 19 December 2025, Strix UK Limited has today completed the sale of the Billi business (comprising Strix Australia Pty Ltd and each regional subsidiary) to Birmingham Bidco Pty Ltd (the "Disposal").

The net proceeds of the Disposal, which have been received by the Company are approximately £105 million after estimated closing adjustments, leaving net cash on completion of c.£35 million.

As announced on 19 December 2025, the Company intends to utilise the net proceeds to repay its existing debt facilities and to launch a £10 million share buyback programme. A further announcement in respect of the share buyback programme will be made next week.

The Board continues to review ways of efficiently returning additional capital to shareholders and will provide a further update in due course.

Whilst market conditions remain challenging, the early indications of post-tariff improvement in the Controls division experienced in Q4 have continued to build. As a result of the recent trading volatility however, the final quarter has become a more important trading period than has historically been the case. The Board will provide a further trading update in due course.

For further enquiries, please contact:

Strix Group Plc	+44 (0) 1624 829829
Gary Lamb, Chairman Mark Bartlett, CEO Clare Foster, CFO
Zeus (Nominated Advisor, Joint Financial Adviser and Joint Broker)	+44 (0) 20 3829 5000
Jordan Warburton / Louisa Waddell (Investment Banking) Dominic King (Corporate Broking)
Stifel Nicolaus Europe Limited (Joint Financial Adviser and Joint Broker)	+44 (0) 20 7710 7600
Matthew Blawat / Phillip McCreanor
Gracechurch Group (Financial PR and IR)	+44 (0) 204 582 3500
Heather Armstrong / Claire Norbury

Information on Strix

Founded in 1982, Isle of Man based Strix is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

Strix has built up market leading capability and know-how, expanding into complementary products and technologies. The Group's brands include Aqua Optima and LAICA providing our customers with market leading water solutions on a global basis.

Strix is quoted on the AIM Market of the London Stock Exchange (AIM: KETL).

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