REG - Billington Holdings - Issue of Equity to Employee Share Ownership Trust

Billington HoldingsAnnouncement

22/01/2025 07:00

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RNS Number : 1726U  Billington Holdings PLC  22 January 2025

22 January 2025

Billington Holdings plc

 

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

 

Issue of Equity to Employee Share Ownership Trust

 

Billington announces the issue of 400,000 ordinary shares of 10 pence each
("New Ordinary Shares") to satisfy the future vesting of existing employee
share awards, to senior management, under the Group's Long Term Incentive
Plan, and to enable future awards under the Group's Deferred Bonus Plan.

 

The New Ordinary Shares will be issued, on Admission, to Ocorian Trustees
(Jersey) Limited in its capacity as trustee of the Billington Holdings plc
Employee Share Ownership Trust ("ESOT") at a price of 10 pence each, being the
nominal value, pursuant to a subscription agreement entered into on 21 January
2025. The Group operates an ESOT to allow employees to share in the future
continued success of the Group, promote productivity and provide further
incentives to recruit and retain employees. The ESOT is a separately
administered trust and the assets of the ESOT comprise Ordinary Shares in the
Company and cash. The ESOT is included in the consolidated financial
statements of the Group as the Group exercises control over the ESOT in
accordance with the terms of a trust deed. When calculating statutory basic
earnings per share, Ordinary Shares held by the ESOT are treated as if they
were cancelled. Dividends are waived by the ESOT on Ordinary Shares whilst
they are held by the ESOT. Following the issue of the New Ordinary Shares, the
ESOT will hold in total 681,191 Ordinary Shares representing approximately 5
per cent. of the Company's enlarged issued share capital.

 

Admission and Total Voting Rights

 

Application has been made for the New Ordinary Shares to be admitted to
trading on AIM, which is expected to occur on or around 8.00 a.m. on 27
January 2025 ("Admission"). The New Ordinary Shares will rank pari passu in
all respects with the Company's existing ordinary shares of 10 pence each
("Ordinary Shares") currently admitted to trading on AIM.

 

Following Admission, the total issued share capital of the Company will be
13,334,327 (13,260,959 Ordinary Shares and 73,368 A Ordinary Shares, with both
classes of Ordinary Share ranking pari passu in all respects) and with no
Ordinary Shares held in treasury. This figure of 13,334,327 may be used by
shareholders as the denominator for the calculation 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 Disclosure Guidance and Transparency
Rules of the FCA.

For further information please contact:

 Billington Holdings plc                             Tel: 01226 340 666

 Mark Smith, Chief Executive Officer

 Trevor Taylor, Chief Financial Officer

 Cavendish Capital Markets Ltd - Nomad and Broker    Tel: 020 7220 0500

 Ed Frisby / Trisyia Jamaludin - Corporate Finance

 Andrew Burdis - ECM

 IFC Advisory Limited                                Tel: 020 3934 6630

 Tim Metcalfe                                        billington@investor-focus.co.uk

 Graham Herring

 Zach Cohen

 

About Billington Holdings plc

 

Billington Holdings plc (AIM: BILN), one of the UK's leading structural steel
and construction safety solutions specialists, is a UK based Group of
companies focused on structural steel and engineering activities throughout
the UK and European markets. Group companies pride themselves on the provision
of high technical and professional standards of service to niche markets with
emphasis on building strong, trusted and long-standing partnerships with all
of our clients. https://billington-holdings.plc.uk/
(https://billington-holdings.plc.uk/)

 

 

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