REG - Lords Group Trading - Vesting of DBP Shares and Issue of Equity

Lords TradingAnnouncement

30/01/2024 07:00

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RNS Number : 2658B  Lords Group Trading PLC  30 January 2024

30 January 2024

 

 

 

Lords Group Trading plc

 

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

 

Vesting of DBP Shares and Issue of Equity

 

 

Lords, a leading distributor of building materials in the UK, announces the
issuance of 410,973 new ordinary shares of 0.5 pence each in the Company ("New
Ordinary Shares") pursuant to the Group's 2021 Deferred Bonus Plan ("DBP"),
which have now vested. There are no further awards capable of vesting under
the DBP.

 

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 1
February 2024. 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 165,943,822 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 165,943,822, 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.

 

- Ends -

 

FOR FURTHER ENQUIRIES:

 

 Lords Group Trading plc                                          Via Buchanan
 Shanker Patel, Chief Executive Officer                           Tel: +44 (0) 20 7466 5000

 Chris Day, Chief Financial Officer and Chief Operating Officer

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

 

 Berenberg (Joint Broker)                                 Tel: +44 (0)20 3207 7800

 Matthew Armitt / Richard Bootle / Detlir Elezi

 Buchanan Communications                                  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 31 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 17 locations enabling nationwide next day delivery service.

 

Lords was established over 35 years ago as a family business with its first
retail unit in Gerrards Cross, Buckinghamshire.  Since then, the Group has
grown to a business operating from 48 sites.  Lords aims to become a £500
million turnover building materials distributor group by 2024 as it grows its
national presence.

 

Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L.
For additional information please visit www.lordsgrouptradingplc.co.uk
(http://www.lordsgrouptradingplc.co.uk/) .

 

 

 

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