Bilby PLC Spokemead Maintenance Limited Consideration (0037S)
28 September 2017 - 12:29AM
UK Regulatory
TIDMBILB
RNS Number : 0037S
Bilby PLC
27 September 2017
27 September 2017
Bilby Plc
("Bilby" or the "Company")
Spokemead Maintenance Limited Consideration
Bilby Plc (AIM: BILB.L), the holding company for P&R
Installation Company Limited, Purdy Contracts Limited, Spokemead
Maintenance Limited (Spokemead), and DCB (Kent) Limited, a leading
gas heating and building services provider, confirms pursuant to
the 'earn out' terms of the acquisition of Spokemead, as announced
on 24 March 2016, Spokemead has satisfied the performance criteria
in respect of the year ending 30 June 2017and accordingly the
Company will settle deferred consideration of GBP497,115 .
The Company will pay Spokemead GBP250,000 from its cash
reserves, with the balance of GBP247,115 being settled via the
issue of the Company's ordinary shares of 10p ("Ordinary Shares").
Bilby will therefore issue 393,183 Ordinary Shares to the vendors
of Spokemead at an issue price of 62.85p per Ordinary Share (the
"Spokemead Consideration Shares").
Application has been made for the Spokemead Consideration
Shares, which will rank pari passu with the existing Ordinary
Shares, to be admitted to trading on AIM and it is expected that
this will take place on or around 28 September 2017
("Admission").
Following the Admission of the Spokemead Consideration Shares,
Bilby will have 40,290,027 Ordinary Shares in issue which will also
represent the total number of voting rights in the Company. The
above figure should 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
Company under the FCA's Disclosure and Transparency Rules.
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) 596/2014.
Enquiries
Bilby Plc 020 8269 3777
Phil Copolo, Deputy Executive Chairman
Sangita Shah, Non-Executive Chairman
David Ellingham, Finance Director
Northland Capital Partners 020 3861 6625
(Nominated Adviser and Broker)
Corporate Finance:
David Hignell
Matthew Johnson
Patrick Claridge
Sales and Broking:
Bob Pountney
John Howes
Hudson Sandler 020 7796 4133
(Financial PR)
Charlie Jack
Emily Dillon
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 27, 2017 10:29 ET (14:29 GMT)
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