REG - Stelrad Group PLC - Retrospective Confirmation of Reduction of Capital

StelradAnnouncement

12/07/2024 17:00

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RNS Number : 2945W  Stelrad Group PLC  12 July 2024

12 July 2024

 

Stelrad Group plc

 

("Stelrad" or "the Group")

 

Retrospective Confirmation of Reduction of Capital

 

 

As contemplated by Stelrad Group plc ("Stelrad" or "the Group", LSE: SRAD) in
its prospectus of 5 November 2021 and confirmed in its filing with the
Registrar of Companies on 27 January 2022 and in the Group's published Annual
Report for 2021, a capital reduction application was approved by the courts on
25 January 2022 reducing the nominal value of each ordinary share in issue
from £1 to £0.001 (the "Reduction of Capital"). Following the Reduction of
Capital, the number of issued ordinary shares and the rights attaching to
those shares remained unchanged.

 

The total number of issued ordinary shares of £0.001 each is unchanged at
127,352,555.  The Reduction of Capital did not involve any distribution or
repayment of share premium by the Group and had no effect on the net asset
position of the Company.

 

- ENDS -

 

Media enquiries

 

 Stelrad Group plc                               +44 (0)191 261 3301

 Trevor Harvey, Chief Executive Officer

 Leigh Wilcox, Interim Chief Financial Officer

 Davy (Joint Corporate Broker)                   + (mailto:stelrad@powerscourt-group.com) 44

                                               (mailto:stelrad@powerscourt-group.com) (0) 20 7448 8871
 Graham Hertrich / Will Smith / Sara Hale

 Investec (Joint Corporate Broker)               +44 (0) 207 597 4000

 Ben Griffiths / Tom Brookhouse / Marc Potel

 Powerscourt                                     stelrad@powerscourt-group.com (mailto:stelrad@powerscourt-group.com)

 James White / Pete Lambie                       +44 (0)7855 432 699

 

Notes to Editors

 

Stelrad Group plc is Europe's leading specialist radiator manufacturer,
selling an extensive range of hydronic, hybrid, dual fuel and electrical heat
emitters to more than 500 customers in over 40 countries. These include
standard, premium and low surface temperature (LST) steel panel radiators,
towel warmers, decorative steel tubular, steel multicolumn and aluminium
radiators.

 

The Group has five core brands: Stelrad, Henrad, Termo Teknik, DL Radiators
and Hudevad.  In the data reported by BRG Building Solutions for 2022,
Stelrad moved into a market leadership position, with 18.8% share by volume of
the combined UK, European and Turkish steel panel radiator market.  The Group
is now market leader in seven countries - the UK, Ireland, France, the
Netherlands, Belgium, Denmark and Greece, with a top 3 position in a further
nine territories.

 

Stelrad is headquartered in Newcastle upon Tyne in the UK and in 2023 employed
1,400+ people, with manufacturing and distribution facilities in Çorlu
(Turkey), Mexborough (UK), Moimacco (Italy) and Nuth (Netherlands), with
further commercial and distribution operations in Kolding (Denmark) and Krakow
(Poland).

 

The Group's origins date back to the 1930s and Stelrad enjoys long established
commercial relationships with many of its customers, having served each of its
top five current customers for over twenty years.

 

Further information can be found at: https://stelradplc.com/
(https://stelradplc.com/) .

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