REG - Croma Sec. Sol. Grp - Completion of the Disposal & Total Voting Rights

Croma Security SolutionsAnnouncement

03/07/2023 07:00

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RNS Number : 6491E  Croma Security Solutions Group PLC  03 July 2023

Croma Security Solutions Group Plc

("CSSG", "Croma", "the "Company" or the "Group")

Completion of the Disposal of Vigilant Security (Scotland) Limited

Transaction in own shares

and total voting rights

 

Croma Security Solutions Group plc (AIM:CSSG) is pleased to announce  that it
has completed the Disposal of  Vigilant Security (Scotland) Limited
("Vigilant") and the Buy-Back which were approved at the General Meeting on 30
June 2023 details of which were announced on 6 June 2023 and set out in the
Circular dated 6 June 2023 both of which are available on the Company's
website.

On 30 June 2023, the Company purchased 798,422 Ordinary Shares held by
Sebastian Morley and Paul Williamson at a price of 47.5 pence per Buy-Back
Share being the five day average mid-market price, to 2 June 2023, being the
latest practical date prior to the announcement. The Company will hold these
Buy Back Shares in treasury.

In accordance with the Disclosure and Transparency Rules (DTR 5.6.1R) the
Company hereby notifies the market that immediately following this purchase
for treasury its issued share capital will remain the same and consist of
15,898,656 Ordinary Shares of which 1,794,936  are held in Treasury.
Therefore, the total number of voting rights in the Company is 14,103,720.
Shareholders may use this figure 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 Company under the FCA's Disclosure and
Transparency Rules.

Roberto Fiorentino, Chief Executive Officer, commented: "We are very pleased
that our shareholders have supported our proposals to dispose of Vigilant and
focus on Croma Locks and Croma Systems where margins are high (relative to
Vigilant) and cash generation remains strong and where we believe there are
good opportunities for profitable growth. We remain focused on creating a
national chain of modern security centres and believe there are opportunities
to expand further."

This announcement should be read in conjunction with the full text of the
Circular posted to Shareholders on 6 June 2023 copies of which are available
on the Company's website at www.cssgroupplc.com. Capitalised terms in this
announcement have the same meaning as given in the Circular.

 

 

For further information visit www.cssgroupplc.com or contact:

 

Croma Security Solutions Group Plc
                  Tel: +44 (0)1489 566 166

Roberto Fiorentino, CEO

Teo Andreeva, CFO

 

WH Ireland
Limited
Tel: +44 (0)207 220 1666

(Nominated Adviser and Broker)

Mike Coe

Sarah Mather

 

Novella
 
Tel: +44 (0)203 151 7008

Tim Robertson

Claire de Groot

Safia Colebrook

 

 

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