REG - Flowtech Fluidpower - Exercise of Warrant, Issue of new shares & TVR

Flowtech FluidpowerAnnouncement

22/05/2024 07:00

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RNS Number : 3717P  Flowtech Fluidpower PLC  22 May 2024

 

 

Wednesday, 22 May 2024

 

 

 

 

Flowtech Fluidpower plc

("the Company")

 

Exercise of Warrant, Issue of New ordinary shares

and

Total Voting Rights

 

 

Flowtech Fluidpower plc (AIM: FLO), the specialist full-service supplier of
technical fluid power products and services, announces that it has received
notice from Zeus Capital Limited ("Zeus") to exercise its right to subscribe
for 1.2 million new ordinary shares of 50 pence each in the Company ("Ordinary
Shares") at 100 pence per Ordinary Share, pursuant to the warrant agreement
dated 8 May 2014 between the Company and Zeus, the Company's Nominated Adviser
and broker at the time of its admission to AIM. The warrant exercise has
generated cash proceeds of £1.2m for the Company which will be used to reduce
net debt.

 

Application will be made to the London Stock Exchange plc for the 1.2m new
Ordinary Shares to be admitted to trading on AIM ("Admission"). It is expected
that Admission will become effective, and that dealings in the New Ordinary
Shares will commence on AIM at 8.00 a.m. on or around 28 May 2024.

 

Total Voting Rights

Following Admission, the total number of voting rights in the Company will be
62,875,173. The Company holds no shares in treasury. 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 Guidance and Transparency Rules.

 

 

 

 

 

 Enquiries

 Flowtech Fluidpower plc

 Roger McDowell, Non-Executive Chair

 Mike England, Chief Executive Officer

 Russell Cash, Chief Financial Officer

 Tel: +44 (0) 1695 52759

 Email: info@flowtechfluidpower.com (mailto:info@flowtechfluidpower.com)

 To read more about the Group please visit: www.flowtechfluidpower.com
 (http://www.flowtechfluidpower.com) .

 Liberum (Nominated adviser and Sole Broker)

 Richard Lindley / Will King

 Tel: +44 (0) 20 3100 2000

 TooleyStreet Communications (IR and media relations)

 Fiona Tooley

 Tel: +44 (0) 7785 703523

 or email: fiona@tooleystreet.com (mailto:fiona@tooleystreet.com)

 

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