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Zotefoams PLC (ZTF)

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Thursday 14 May, 2020

Zotefoams PLC

Issue of Equity

RNS Number : 9666M
Zotefoams PLC
14 May 2020
 

Zotefoams plc

('Zotefoams', the 'Company')

 

Issue of Equity

 

Zotefoams plc (LSE: ZTF) announces that it has allotted and issued 320,000 new ordinary shares of five pence each in the capital of the Company ("Ordinary Shares"), (the "New Shares").

 

The New Shares, which will rank pari passu with the existing Ordinary Shares in issue, have been allotted and issued to the Zotefoams plc 2007 Employee Benefit Trust (the "EBT") at the par value of five pence each in order to satisfy future exercises of awards under the Group's share incentive schemes.

 

The EBT will now hold a total of 470,135 Ordinary Shares, representing approximately one percent of the enlarged issued share capital of the Company.

 

Applications have been made to the Financial Conduct Authority (the "FCA") for the admission of the New Shares to the premium listing segment of the Official List of the FCA and to London Stock Exchange plc for admission to trading of the New Shares on its main market for listed securities (together, "Admission"). Admission is expected to become effective at 8.00 a.m. on 19 May 2020.

 

Following Admission, the Company will have 48,621,234 Ordinary Shares in issue. There are no shares held in treasury. Therefore, following Admission the total number of voting rights in the Company will be 48,621,234 and 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 voting rights interest, or a change to that interest, in the Company under the FCA's Disclosure Guidance and Transparency Rules.

 

 

Enquiries:

 

Zotefoams plc


+44 (0) 208 664 1600

David Stirling, Group CEO



Gary McGrath, Group CFO






IFC Advisory (Financial PR & IR)


+44 (0) 203 934 6630

Graham Herring

Zach Cohen

 



14 May 2020

 

About Zotefoams plc: 

 

About Zotefoams plc

Zotefoams plc (LSE - ZTF) is a world leader in cellular materials technology.  Utilising a variety of unique manufacturing processes, including environmentally friendly nitrogen expansion for lightweight AZOTE® polyolefin and ZOTEK® high-performance foams, Zotefoams sells to diverse markets worldwide. Zotefoams uses its own cellular materials to manufacture T-FIT® advanced insulation for demanding industrial markets.  In addition, Zotefoams owns and licenses patented microcellular foam technology, developed specifically for extrusion applications, from a base in Massachusetts, USA to customers worldwide.

Zotefoams is headquartered in Croydon, UK, with additional manufacturing sites in Kentucky and Oklahoma, USA (foam products manufacture and conversion), Massachusetts, USA (MuCell Extrusion) and Jiangsu Province, China (T-FIT®). A third foam-manufacturing site, in Poland, is planned to begin operations in 2020.

 

AZOTE®, ZOTEK® and T-FIT® are registered trademarks of Zotefoams plc

www.zotefoams.com


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