REG - Accrol Group Hldgs - Update on LTC Share Purchase Agreement

Accrol groupAnnouncement

14/03/2022 07:00

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RNS Number : 5867E  Accrol Group Holdings PLC  14 March 2022

14 March 2022

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and is
disclosed in accordance with the Company's obligations under Article 17 of
MAR.

 

Accrol Group Holdings plc

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

 

Update on Leicester Tissue Company Share Purchase Agreement

 

Accrol (AIM:ACRL), the UK's leading independent tissue convertor, is pleased
to announce that, following final settlement with the vendor of Leicester
Tissue Company ("LTC"), no sums are due to be paid nor equity issued under the
deferred consideration arrangements relating to the acquisition of LTC.

 

Further details of the acquisition of LTC are contained in the announcement
issued by the Company on 2 November 2020 titled "Acquisition and Launch of
ABB".

Dan Wright, Chairman of Accrol, said: "LTC has proven an extremely valuable
addition to the Accrol manufacturing footprint. Its operations are now fully
integrated within the wider Accrol business, allowing us to accommodate
considerable growth and realise significant efficiencies and synergies across
the Group."

 

 For further information, please contact:

 Accrol Group Holdings plc
 Dan Wright, Executive Chairman                           Via Belvedere Communications
 Gareth Jenkins, Chief Executive Officer

 Richard Newman, Chief Financial Officer

 Zeus Capital Limited (Nominated Adviser & Broker)
 Dan Bate / Jordan Warburton                              Tel: +44 (0) 161 831 1512
 Dominic King                                             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
                                                          accrolpr@belvederepr.com

 

Overview of Accrol

 

Accrol Group Holdings plc is a leading tissue converter and supplier of toilet
tissues, kitchen rolls, facial tissues, and wet wipes to many of the UK's
leading discounters and grocery retailers across the UK. Following the
acquisitions of LTC in Leicester and JD in Flint, North Wales, the Group now
operates from six manufacturing sites, including four in Lancashire, which
generate revenues totalling c.16% of the £2.1bn UK retail tissue market.

 

For more information, please visit www.accrol.co.uk (http://www.accrol.co.uk)
.

 

 

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