Accrol Group Holdings PLC Admission of Shares & Total Voting Rights (0873G)
November 23 2020 - 3:00AM
UK Regulatory
TIDMACRL
RNS Number : 0873G
Accrol Group Holdings PLC
23 November 2020
23 November 2020
Accrol Group Holdings plc
("Accrol", the "Group" or the "Company")
AIM: ACRL
Admission of Shares,
Placing, Open Offer, Option Exercise
and
Total Voting Rights
Following the announcement made by the Company dated 3 November
2020 and titled "Confirmation of Successful Placing" , Accrol Group
Holdings plc, a leading independent tissue converter in the UK,
today announces that 116,108,096 new ordinary shares of GBP0.001
each in the Company ("New Shares") have been admitted to trading on
AIM ("Admission").
The New Shares comprise new ordinary shares issued and allotted
by the Company in connection with:
-- A primary placing of 87,500,000 New Shares to raise GBP38.5
million (before expenses) ("Primary Placing");
-- An open offer of 9,297,454 New Shares to raise c.GBP4.1
million (before expenses) ("Open Offer"); and
-- The exercise of share options ("Option Exercise") by certain
members of the Accrol management team ("Optionholders") in respect
of 19,310,642 New Shares pursuant to the Accrol Group Management
Incentive Plan ("Option Shares"), with 6,454,668 of such shares
being sold to placees pursuant to a secondary placing ("Secondary
Placing")
Further details of the Primary Placing, the Open Offer, the
Option Exercise and the Secondary Placing are contained in the
Circular published by the Company on 4 November 2020 ("Circular").
As the result of Admission, the Primary Placing, the Open Offer,
the Option Exercise and the Secondary Placing have now
completed.
Acquisition of Leicester Tissue Company Limited
As announced by the Company on 2 November 2020, the Company has
conditionally agreed to acquire the entire issued share capital of
the Leicester Tissue Company Limited (and its group companies)
(together the "LTC Group") (the "Acquisition"). Further details of
the Acquisition are detailed in that announcement and in the
Circular.
Accrol can confirm that all pre-completion conditions have been
met in connection with the Acquisition, with the exception of the
satisfaction of the Initial Consideration (as defined in the
Circular), which is to be satisfied by the Company on completion of
the Acquisition (the "Final Condition"). It is expected that the
Final Condition will be satisfied by the Company on or around 25
November 2020 and accordingly, that the Acquisition is expected to
complete on 25 November 2020.
Total Voting Rights
Following Admission, the Company will have 311,354,632 ordinary
shares of GBP0.001 each ("Ordinary Shares") in issue. The Company
does not currently hold any shares in treasury. Therefore, the
total number of voting rights in the Company following Admission
will be 311,354,632. Shareholders may use this figure 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 issued share capital of the Company, under the
FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
Accrol Group Holdings plc
Dan Wright, Executive Chairman Via Belvedere Communications
Gareth Jenkins, Chief Executive Officer
Zeus Capital Limited (Nominated Adviser
& Broker)
Dan Bate / Jordan Warburton Tel: +44 (0) 161 831 1512
Dominic King / John Goold Tel: +44 (0) 203 829 5000
Liberum Capital Limited (Joint Broker) Tel: +44 (0) 20 3100 2222
Clayton Bush / Edward Thomas
Belvedere Communications Limited
Cat Valentine Tel: +44 (0) 7715 769 078
Keeley Clarke Tel: +44 (0) 7967 816 525
Llew Angus Tel: +44 (0) 7407 023 147
accrolpr@belvederepr.com
Notes to Editors
Accrol Group Holdings plc, based in Lancashire, is a leading
tissue converter and supplier of toilet tissues, kitchen rolls and
facial tissues, as well as other tissue products, to major
discounters and grocery retailers throughout the UK. The business
operates from four sites in Lancashire:
-- A manufacturing, storage, and distribution facility in Blackburn;
-- A storage and administrative centre in Blackburn;
-- A facial tissue plant, also in Blackburn; and
-- A manufacturing, storage, and distribution facility in Leyland.
For more information, please visit www.accrol.com .
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