REG - Dewhurst Group PLC - Result of Tender Offer and Total Voting Rights

DewhurstAnnouncement

29/08/2025 11:00

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RNS Number : 2438X  Dewhurst Group PLC  29 August 2025

This release contains inside information within the meaning of Article 7(1) of
the EU Market Abuse Regulation (2014/596/EU), or EU MAR, and of the UK version
of EU MAR as it forms part of UK law by virtue of the European Union
(Withdrawal) Act (as amended).

 

29 August 2025

Dewhurst Group plc

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

Result of Tender Offer and Total Voting Rights

 

Dewhurst Group plc, the global manufacturer and supplier of quality components
to the lift, transport and keypad industries, announces the results of the
Tender Offer set out in the circular published by the Company on 5 August (the
"Circular"), which closed at 1.00 p.m. on 28 August 2025. The Tender Price was
£6.65 per 'A' Share and £9.00 per Ordinary Share.

The Company offered to purchase up to a maximum of 3,739,897 Shares. As set
out in the Circular, under the Basic Entitlement, the Company offered to
repurchase 3,007,518 'A' Shares and 555,555 Ordinary Shares. In total,
1,869,456 'A' Shares and 517,802 Ordinary Shares were validly tendered under
the Tender Offer through Qualifying Shareholders' Basic Entitlements as well
as excess applications received in respect of 275,326 'A' Shares and 452,905
Ordinary Shares. All valid tenders were satisfied in full pursuant to their
Basic Entitlement (rounded down to the nearest whole number of Shares) and
excess applications were also satisfied in full, with 275,326 'A' Shares and
452,905 Ordinary Share accepted pursuant to excess tenders.

It is expected that cheques will be despatched and CREST accounts will be
credited with proceeds in respect of successfully tendered shares by 10
September 2025.

Of the 2,144,782 'A' Shares and 970,707 Ordinary Shares validly tendered under
the Tender Offer 2,144,782 'A' Shares and 920,707 Ordinary Shares will be
repurchased by the Company under the Repurchase Agreement and cancelled, with
the balance of 50,000 Ordinary Shares to be repurchased by the Company under
the Repurchase Agreement and held in treasury.

The issued share capital of the Company following the purchase will be
2,280,736 'A' Shares and 2,388,493 Ordinary Shares (with 50,000 Ordinary
Shares held in treasury). The total voting rights in the Company following the
purchase and cancellation will be 2,338,493.

The figures of 2,280,736 'A' Shares and 2,338,493 Ordinary Shares 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 Company under the FCA's Disclosure Guidance and
Transparency Rules.

The Company reminds Shareholders of the expected timetable of principal events
as follows:

 CREST accounts settled in respect of unsold tendered Shares held in             2 September
 uncertificated form
 Payments through CREST made in respect of Shares held in uncertificated form    by 10 September
 successfully tendered
 Cheques despatched in respect of Shares held in certificated form successfully  by 10 September
 tendered
 Balancing certificates despatched in respect of unsold tendered                 by 10 September
 Last day of dealings in the Ordinary Shares and 'A' Shares on AIM               10 September
 Cancellation of admission of the Ordinary Shares and 'A' Shares to trading on    11 September
 AIM
 Re-registration as a private company                                            Expected by 26 September

 

Unless otherwise defined, capitalised terms in this announcement shall have
the meaning set out in the Circular.

 

Contacts for further enquiries:

 Dewhurst Group Plc                                          Tel: +44 (0)208 744 8200
 Richard Dewhurst, Chairman                                  www.dewhurst-group.com
 Jeremy Dewhurst, Chief Financial Officer

 Cavendish Capital Markets Limited (Financial Adviser)       Tel: +44 (0)207 220 0500
 Adrian Hadden
 Henrik Persson
 Hamish Waller
 Trisyia Jamaludin

 Singer Capital Markets (Nominated Adviser and Sole Broker)  Tel: +44 (0)207 496 3000
 Rick Thompson
 Alex Bond

 

 

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