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Flowtech Fluidpower (FLO)

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Tuesday 30 July, 2019

Flowtech Fluidpower

Issue of Equity and Total Voting Rights (TVR)

RNS Number : 1132H
Flowtech Fluidpower PLC
30 July 2019
 

 

 

NEWS RELEASE

Issued on behalf of Flowtech Fluidpower plc

Tuesday, 30 July 2019

 

 

 

FLOWTECH FLUIDPOWER PLC

("Flowtech Fluidpower" the "Group" or "Company")

 

Issue of Equity

and

Total Voting Rights

 

 

Flowtech Fluidpower plc (Symbol: AIM: FLO) announces that on 29 July 2019 it issued 28,760 ordinary shares of 50 pence each in the Company ("Consideration Shares") in part settlement of the initial consideration for the minority shareholding in Derek Lane & Co. Limited.

 

The Company has entered agreement to purchase the minority shareholding of Derek Lane & Co. Limited for a total maximum consideration of £300,000, including initial consideration of £38,250 in Consideration Shares and £38,250 in cash. The remaining consideration is deferred and is subject to performance criteria ("Deferred Consideration"). The Deferred Consideration will become payable in 2020.     

 

The 28,760 new ordinary shares issued will rank pari passu with the Company's existing ordinary shares and admission to trading on AIM is expected to take place on or around 2 August 2019 ("Admission").

 

Total Voting Rights (TVR)

The total enlarged issued share capital of the Company following Admission will be 61,157,127 ordinary shares.  The Company does not hold any ordinary shares in treasury.  Therefore, the total number of ordinary shares in the Company with voting rights will be 61,157,127.  This figure 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 share capital of the Company under the Disclosure and Transparency Rules of the UK Financial Conduct Authority.

 

 

 

Enquiries to:

 

Flowtech Fluidpower plc

Bryce Brooks, Chief Executive Officer

Russell Cash, Chief Financial Officer

Tel: +44 (0) 1695 52796

Email [email protected]

 

LSE: AIM symbol FLO

 

Zeus Capital Limited (Nominated Adviser and Broker)

Andrew Jones, Alistair Donnelly (corporate finance)

Dominic King, John Goold (sales & broking)

Tel: +44 (0) 161 831 1512

 

finnCap Limited (Joint Broker)

Ed Frisby, Kate Bannatyne (Corporate Finance)

Rhys Williams, Andrew Burdis (Sales & Broking)

Tel: + 44 (0) 20 7220 0500

 

TooleyStreet Communications (IR and media relations)

Fiona Tooley

Tel: +44 (0) 7785 703523 or email: [email protected]

 


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.
 
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