Marlowe PLC Further re Acquisition of William Martin (3955Y)
09 September 2020 - 4:00PM
UK Regulatory
TIDMMRL
RNS Number : 3955Y
Marlowe PLC
09 September 2020
9 September 2020
Marlowe plc
Further re Acquisition of William Martin
Total Voting Rights
Marlowe plc (" Marlowe " or the " Group "), the specialist
services group focused on developing companies which assure safety
and regulatory compliance, announces that, further to the Group's
announcement dated 21 December 2018 and pursuant to the put and
call mechanism described therein, Marlowe has settled the deferred
consideration for William Martin Compliance Limited (" William
Martin ").
The total deferred consideration of approximately GBP3.35
million comprises a cash payment of GBP1.5 million and the issue of
365,613 new ordinary shares of GBP0.50 each in the capital of
Marlowe (" Consideration Shares "). The Consideration Shares are
subject to a lock-in, pursuant to which they may not be sold,
transferred or otherwise disposed of at any time prior to 1 May
2021. Save for in certain circumstances, 50% of the Consideration
Shares may not be sold, transferred or otherwise disposed of at any
time prior to 1 May 2022.
Total Voting Rights
Application has been made for the Consideration Shares to be
admitted to trading on AIM, and it is expected that admission will
occur at 8.00 a.m. on or around 14 September 2020. Following
admission of the Consideration Shares, the Company's issued
ordinary share capital will comprise 54,825,420 ordinary shares,
each with voting rights.
Therefore, the figure of 54,825,420 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 Company under the FCA's Disclosure
Guidance and Transparency Rules.
For further information:
Marlowe plc www.marloweplc.com
Alex Dacre, Chief Executive Tel: +44 (0) 203 841
6194
Mark Adams, Group Finance Director IR@marloweplc.com
Cenkos Securities plc - Nominated Adviser & Joint Broker
Nicholas Wells Tel: +44 (0)20 7397
8900
Ben Jeynes
Harry Hargreaves
Joh. Berenberg, Gossler & Co. KG, London Branch - Joint Broker
Mark Whitmore Tel: +44 (0)20 3207
Ben Wright 7800
Yudith Karunaratna
FTI Consulting
Nick Hasell Tel: +44 (0)20 3727
1340
Alex Le May
About Marlowe plc
Marlowe is a UK leader in specialist services which assure
safety and regulatory compliance, whilst managing risk for
businesses across the country. The company was formed to create
sustainable shareholder value through the acquisition and
development of businesses that provide regulated inspection,
testing and compliance services. It is focused on health &
safety, compliance software, employment law & HR compliance,
fire safety, security, water treatment & hygiene, air quality
and occupational health services - all of which are vital to the
wellbeing of its customers operations and are invariably governed
by regulation. Marlowe currently provides services to over 15% of
Britain's commercial premises and is increasingly attractive to
customers who require a single outsourced, nationwide, provider of
a comprehensive range of regulated compliance and safety services.
Our customers can be found in most office complexes, high streets
& leisure facilities, manufacturing plants and industrial
estates, and include SMEs, local authorities, facilities management
providers, multi-site NHS trusts and FTSE 100 companies.
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END
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