REG - Lords Group Trading - Issue of Equity

Lords TradingAnnouncement

05/03/2025 07:00

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RNS Number : 3319Z  Lords Group Trading PLC  05 March 2025

5 March 2025

 

Lords Group Trading plc

('Lords', the 'Group' or the 'Company')

Issue of Equity

Further to the Company's announcement of 23 May 2024, Lords, a leading
distributor of building materials in the UK, announces that it has today made
application for 255,319 new ordinary shares in the Company in respect of the
February 2025 deferred consideration due to the Managing Director of A.W. Lumb
(the 'Vendor').

Deferred Consideration share issuances to the Vendor, each of 255,319 new
ordinary shares in the Company, will occur in February 2026 and February 2027.
Remaining Acquisition deferred consideration payable to other Acquisition
vendors of an aggregate of £480,000 will remain payable in equal cash annual
amounts through to February 2027.

Accordingly, an application has been made for the New Ordinary Shares to be
admitted to trading on the AIM Market of the London Stock Exchange
('Admission'), and it is expected that Admission will occur at 8.00 a.m. on 7
March 2025. The New Ordinary Shares will rank pari passu with the existing
ordinary shares in issue. Following Admission of the New Ordinary Shares, the
Company's issued ordinary share capital will comprise 166,180,692 ordinary
shares, none of which are held in treasury.

Therefore, following Admission of the New Ordinary Shares, the total number of
ordinary shares with voting rights in the Company will be 166,180,692, which
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 Financial Conduct
Authority's Disclosure Guidance and Transparency Rules.

 

FOR FURTHER ENQUIRIES:

 Lords Group Trading plc                                  Via Burson Buchanan
 Shanker Patel, Chief Executive Officer                   Tel: +44 (0) 20 7466 5000
 Stuart Kilpatrick, Chief Financial Officer
  Cavendish Capital Markets Limited

 (Nominated Adviser and Joint Broker)                     Tel: +44 (0)20 7220 0500
 Ben Jeynes / Dan Hodkinson (Corporate Finance)
 Julian Morse / Henry Nicol / Charlie Combe (Sales/ECM)

  Berenberg (Joint Broker)

 Matthew Armitt / Harry Nicholas / Detlir Elezi                                         Tel: +44 (0)20 3207 7800
 Burson Buchanan                                                                         Tel: +44 (0) 20 7466 5000
 Henry Harrison-Topham / Steph Whitmore / Abby Gilchrist                                LGT@buchanan.uk.com (mailto:LGT@buchanan.uk.com)

 

Notes to Editors:

Lords is a specialist distributor of building, plumbing, heating and DIY
goods.  The Group principally sells to local tradesmen, small to medium sized
plumbing and heating merchants, construction companies and retails directly to
the general public.

The Group operates through the following two divisions:

Merchanting: supplies building materials and DIY goods through its network of
merchant businesses and online platform capabilities.  It operates both in
the 'light side' (building materials and timber) and 'heavy side' (civils and
landscaping), through 32 locations in the UK.

Plumbing and Heating: a specialist distributor in the UK of plumbing and
heating products to a UK network of independent merchants, installers and the
general public.  The division offers its customers an attractive proposition
through a multi-channel offering.  The division operates over 16 locations
enabling nationwide next day delivery service.

For additional information please visit www.lordsgrouptradingplc.co.uk
(http://www.lordsgrouptradingplc.co.uk/)

 

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