REG - Flowtech Fluidpower - Issue of Equity and Total Voting Rights (TVR)

Flowtech FluidpowerAnnouncement

30/07/2019 07:05

RNS Number : 1132H
Flowtech Fluidpower PLC
30 July 2019
 





 
 
NEWS RELEASE
Issued on behalf of Flowtech Fluidpower plc
Tuesday, 30 July 2019
 




 
 
FLOWTECH FLUIDPOWER PLC
("Flowtech Fluidpower" the "Group" or "Company")
 
Issue of Equity
and
Total Voting Rights




 
 
Flowtech Fluidpower plc (Symbol: AIM: FLO) announces that on 29 July 2019 it issued 28,760 ordinary shares of 50 pence each in the Company ("Consideration Shares") in part settlement of the initial consideration for the minority shareholding in Derek Lane & Co. Limited.
 
The Company has entered agreement to purchase the minority shareholding of Derek Lane & Co. Limited for a total maximum consideration of £300,000, including initial consideration of £38,250 in Consideration Shares and £38,250 in cash. The remaining consideration is deferred and is subject to performance criteria ("Deferred Consideration"). The Deferred Consideration will become payable in 2020.     
 
The 28,760 new ordinary shares issued will rank pari passu with the Company's existing ordinary shares and admission to trading on AIM is expected to take place on or around 2 August 2019 ("Admission").
 
Total Voting Rights (TVR)
The total enlarged issued share capital of the Company following Admission will be 61,157,127 ordinary shares.  The Company does not hold any ordinary shares in treasury.  Therefore, the total number of ordinary shares in the Company with voting rights will be 61,157,127.  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 interest in, or a change to their interest in, the share capital of the Company under the Disclosure and Transparency Rules of the UK Financial Conduct Authority.
 



 
 



Enquiries to:
 
Flowtech Fluidpower plc
Bryce Brooks, Chief Executive Officer
Russell Cash, Chief Financial Officer
Tel: +44 (0) 1695 52796
Email info@flowtechfluidpower.com
 
LSE: AIM symbol FLO
 
Zeus Capital Limited (Nominated Adviser and Broker)
Andrew Jones, Alistair Donnelly (corporate finance)
Dominic King, John Goold (sales & broking)
Tel: +44 (0) 161 831 1512
 
finnCap Limited (Joint Broker)
Ed Frisby, Kate Bannatyne (Corporate Finance)
Rhys Williams, Andrew Burdis (Sales & Broking)
Tel: + 44 (0) 20 7220 0500
 
TooleyStreet Communications (IR and media relations)
Fiona Tooley
Tel: +44 (0) 7785 703523 or email: fiona@tooleystreet.com



 




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