REG - Inspecs Group PLC - Allotment of shares

InspecsAnnouncement

06/01/2022 07:00

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RNS Number : 5665X  Inspecs Group PLC  06 January 2022

06 January 2022

 

Inspecs Group plc

 

(the "Company")

 

Allotment of shares

 

The Company announces that it has issued 380,627 new ordinary shares of 1
pence each in the Company ("Ordinary Shares"), pursuant to an exercise of
share options granted to certain employees on 10 December 2019 at an exercise
price of $1.2739 USD per share. Application has been made to the London Stock
Exchange for the 380,627 new Ordinary Shares to be admitted to trading on
AIM.

 

It is expected that admission will become effective and dealings in the new
Ordinary Shares will commence on 7 January 2022. The new Ordinary Shares will
rank pari passu with the existing Ordinary Shares in the Company.

 

Following admission of the 380,627 new Ordinary Shares, the Company's issued
share capital will consist of 101,671,525 Ordinary Shares with voting rights
and that figure may be used by shareholders in the Company as the denominator
for the calculations by which they will determine if they are required to
notify their interest in, or a change to the interest in, the share capital of
the Company under the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.

 

For further information please contact:

 

 Inspecs Group plc                         via FTI Consulting
 Robin Totterman (CEO)                     Tel: +44 (0) 20 3727 1000
 Chris Kay (CFO)

 Peel Hunt (Nominated Adviser and Broker)  Tel: +44 (0) 20 7418 8900
 Adrian Trimmings
 Andrew Clark
 Lalit Bose

 FTI Consulting (Financial PR)             Tel: +44 (0) 20 3727 1000
 Alex Beagley
 Alice Newlyn

About Inspecs Group plc

 

INSPECS is a Bath-based designer, manufacturer and distributor of eyewear
frames and optically advanced spectacle lenses. The Group produces a broad
range of frames and lenses, covering optical, sunglasses and safety, which are
either "Branded" (either under licence or under the Group's own proprietary
brands), or "OEM" (including private label on behalf of retail customers and
un-branded).

 

In December 2020, INSPECS acquired Eschenbach, a leading, global, eyewear
supplier headquartered in Nuremberg, Germany, which includes the American
company Tura. The acquisition extended the Group's presence internationally in
key global markets. This followed the acquisition of lens maker Norville in
July 2020, whereby INSPECS combined two heritage brands in British optical,
Savile Row frame maker, and Norville lens maker, further enhancing its
vertically integrated business model. As one of only a few companies that can
offer this one-stop-shop solution to global retail chains, INSPECS is well
positioned to continue to take market share in the globally expanding eyewear
market.

 

INSPECS customers include global optical and non-optical retailers, global
distributors and independent opticians, with its distribution network covering
over 80 countries and reaching approximately 70,000 points of sale.

 

INSPECS has operations across the globe: with offices in the UK, Portugal,
Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and
manufacturing facilities in Vietnam, China, the UK and Italy. With the
acquisition of Eschenbach, the Group's international reach further extends
across Europe and the American markets.

 

The Group's growth strategy going forward is to: (i) continue to grow
organically; (ii) undertake further acquisitions (and drive value through
leveraging the Group's internal capabilities); and (iii) extend the Group's
manufacturing capacity.

 

More information is available at www.INSPECS.com (http://www.INSPECS.com)

 

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