FLOW Flowgroup

TIDMFLOW

RNS Number : 0084A

Flowgroup plc

21 March 2017

Flowgroup plc

("Flow" or the "Company" or the "Group")

Update re sale of Flow Energy Limited

On 8 February, the Company announced that it was actively pursuing the sale of Flow Energy Limited and can now report that, following that announcement, it received a number of indicative offers for that part of the Group. The Company announces that it has selected a preferred bidder and has entered into an exclusivity agreement with this party. Whilst there can be no guarantee that the sale of Flow Energy Limited will complete with this party, or that the sale of Flow Energy Limited will complete at all, the Company expects to make a further announcement in the coming weeks. Any disposal would be conditional on shareholder approval.

The Directors continue to consider alternative funding options for the Group should the disposal of Flow Energy Limited not conclude for any reason.

 
 Flowgroup plc                                                               www.flowgroup.uk.com 
 Tony Stiff, Group Chief Executive                                       Tel: +44 (0)20 3137 4525 
  Officer 
 Nigel Canham, Chief Financial Officer 
 
 Cenkos Securities plc (NOMAD and                                        Tel: +44 (0)20 7397 8900 
  Broker) 
 Stephen Keys/Callum Davidson (Corporate 
  Finance) 
 Julian Morse (Sales) 
 
 Walbrook PR Ltd (Media Relations)           Tel: +44 (0)20 7933 8780 or flowgroup@walbrookpr.com 
 Paul McManus                                                            Mob: +44 (0)7980 541 893 
 Nick Rome                                                               Mob: +44 (0)7748 325 236 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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March 21, 2017 03:00 ET (07:00 GMT)

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