REG - TP ICAP PLC - Allotment of consideration shares

TP IcapAnnouncement

26/03/2018 13:30

RNS Number : 9465I
TP ICAP PLC
26 March 2018
 

 
26 March 2016
TP ICAP PLC
("TP ICAP" or "the Company")
 
Payment of deferred consideration pursuant to the acquisition of PVM Oil Associates Limited
 
Pursuant to the TP ICAP announcement dated 26 November 2014 in respect of the acquisition of PVM Oil Associates Limited and its subsidiaries ("PVM"), the Company today announces the payment of the applicable deferred consideration payable in accordance with the Sale and Purchase Agreement dated 9 May 2014 entered into between the Company and the sellers of PVM
Accordingly, pursuant to the acquisition terms, the Company will pay final deferred consideration of approximately £43.9m to the Sellers of PVM by means of the allotment and issue of a total of 9,203,709 new ordinary shares in the Company ("Shares").
The Financial Conduct Authority (the "FCA") has approved the admission of the Shares to the Official List and the London Stock Exchange has granted permission for the Shares to be admitted to trading ("Admission"). It is expected that Admission will become effective on 27 March 2018.
Upon their issue the Shares will represent approximately 1.6 per cent. of the enlarged issued share capital of the Company and, as a result, the Company's capital will thereafter consist of 563,336,380 shares of 25 pence each with voting rights. The Company does not hold any shares in Treasury at the date of this announcement and, therefore, the total number of voting rights in the Company will now be 563,336,380.
The above figure can be used by the Company's shareholders as the denominator for calculations by which to determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure and Transparency Rules.
 
Richard Cordeschi, Group Company Secretary
Direct: +44 (0)20 7200 7331
email: richard.cordeschi@tpicap.com
 
 
Jamie Dunkley, Group Media Relations Director
Direct: +44 ﴾0﴿20 7200 7524
email: jamie.dunkley@tpicap.com 
 



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