Business
Issue of Equity and Total Voting Rights (TVR)
Issue of Equity and Total Voting Rights (TVR).
About this update from Flowtech Fluidpower Plc
[{"type":"text","content":"\n \nRNS Number : 1132H Flowtech Fluidpower PLC 30 July 2019 \n\n\n\n\n \n \nNEWS RELEASE\nIssued on behalf of Flowtech Fluidpower plc\nTuesday, 30 July 2019 \n \n\n\n\n\n \n \nFLOWTECH FLUIDPOWER PLC\n(\"Flowtech Fluidpower\" the \"Group\" or \"Company\")\n \nIssue of Equity \nand \nTotal Voting Rights \n\n\n\n\n \n \nFlowtech Fluidpower plc (Symbol: AIM: FLO) announces that on 29 July 2019 it issued 28,760 ordinary shares of 50 pence each in the Company (\"Consideration Shares\") in part settlement of the initial consideration for the minority shareholding in Derek Lane & Co. Limited.\n \nThe Company has entered agreement to purchase the minority shareholding of Derek Lane & Co. Limited for a total maximum consideration of £300,000, including initial consideration of £38,250 in Consideration Shares and £38,250 in cash. The remaining consideration is deferred and is subject to performance criteria (\"Deferred Consideration\"). The Deferred Consideration will become payable in 2020. \n \nThe 28,760 new ordinary shares issued will rank pari passu with the Company's existing ordinary shares and admission to trading on AIM is expected to take place on or around 2 August 2019 (\"Admission\").\n \nTotal Voting Rights (TVR)\nThe total enlarged issued share capital of the Company following Admission will be 61,157,127 ordinary shares. The Company does not hold any ordinary shares in treasury. Therefore, the total number of ordinary shares in the Company with voting rights will be 61,157,127. This figure 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 share capital of the Company under the Disclosure and Transparency Rules of the UK Financial Conduct Authority.\n \n\n\n\n \n \n\n\n\nEnquiries to:\n \nFlowtech Fluidpower plc\nBryce Brooks, Chief Executive Officer\nRussell Cash, Chief Financial Officer\nTel: +44 (0) 1695 52796\nEmail [email protected]\n \nLSE: AIM symbol FLO\n \nZeus Capital Limited (Nominated Adviser and Broker)\nAndrew Jones, Alistair Donnelly (corporate finance)\nDominic King, John Goold (sales & broking)\nTel: +44 (0) 161 831 1512\...