Business
Completion of Acquisition and Admission
Completion of Acquisition and Admission.
About this update from Norcros Plc
[{"type":"text","content":"\n \nRNS Number : 3321X Norcros PLC 23 November 2017 \n\n23 November 2017\nNorcros plc (\"Norcros\")\nCompletion of Acquisition and Admission of New Ordinary Shares\nFurther 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.\nThe 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. \nAll 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.\nCommenting on the acquisition, Nick Kelsall, Group Chief Executive, said:\n\"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.\"\nFor further information, please contact:\n\n\n\n\nNorcros plc\n\n\nTel: 01625 547 700\n\n\n\n\nNick Kelsall, Group Chief Executive \n\n\n\n\n\n\n\nShaun Smith, Group Finance Director\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nNumis\n\n\nTel: 0207 260 1000\n\n\n\n\nChristopher Wilkinson\n\n\n\n\n\n\n\nRichard Thomas\nAndrew Hackney\nTom Ballard\n \n\n\n\n\n\n\n\nHudson Sandler\n\n\nTel: 0207 796 4133\n\n\n\n\nNick Lyon\n\n\n\n\n\n\n\nFern Duncan\n\n\n\n\n\n\n\n \nFor further information, please visit Norcros' website:\nwww.norcros.com\n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END  ...