REG - Norcros PLC - Completion of Acquisition and Admission <Origin Href="QuoteRef">NXR.L</Origin>

NorcrosAnnouncement

23/11/2017 08:46

RNS Number : 3321X
Norcros PLC
23 November 2017
23 November 2017
Norcros plc ("Norcros")
Completion of Acquisition and Admission of New Ordinary Shares
Further to the announcement on 2 November 2017 of the proposed acquisition of Merlyn Industries Limited ("Merlyn") and a Firm Placing and Placing and Open Offer to raise gross proceeds of 31.4 million and the announcement yesterday of the result of the General Meeting and shareholder approval for the Acquisition and the associated Capital Raising, Norcros announces Completion of the Acquisition and Admission.
The Admission of the New Ordinary Shares pursuant to the Firm Placing and Placing and Open Offer both occurred at 8.00 a.m. today. 18,254,161 New Ordinary Shares were admitted to listing on the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities. 
All words and expressions which are detailed in the Prospectus issued to Norcros shareholders on 2 November 2017 shall, when used in this announcement, bear the meanings respectively ascribed to them in the prospectus.
Commenting on the acquisition, Nick Kelsall, Group Chief Executive, said:
"The acquisition of Merlyn is both an important strategic and financial step for the Group. Its premium brands will substantially broaden the Group's bathroom product offer as well as providing a number of opportunities to drive meaningful revenue synergies. I look forward to working with Charlie Soden and his team as we look to grow and develop the Merlyn business further, both in the UK and internationally."
For further information, please contact:
Norcros plc
Tel: 01625 547 700
Nick Kelsall, Group Chief Executive

Shaun Smith, Group Finance Director



Numis
Tel: 0207 260 1000
Christopher Wilkinson

Richard Thomas
Andrew Hackney
Tom Ballard

Hudson Sandler
Tel: 0207 796 4133
Nick Lyon

Fern Duncan

For further information, please visit Norcros' website:
www.norcros.com

This information is provided by RNS
The company news service from the London Stock Exchange
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