Norcros PLC Completion of Acquisition and Admission (3321X)
23 November 2017 - 7:43PM
UK Regulatory
TIDMNXR
RNS Number : 3321X
Norcros PLC
23 November 2017
23 November 2017
Norcros plc ("Norcros")
Completion of Acquisition and Admission of New Ordinary
Shares
Further 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
GBP31.4 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.
The 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.
All 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.
Commenting on the acquisition, Nick Kelsall, Group Chief
Executive, said:
"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."
For further information, please contact:
Norcros plc Tel: 01625 547 700
Nick Kelsall, Group
Chief Executive
Shaun Smith, Group
Finance Director
Numis Tel: 0207 260 1000
Christopher Wilkinson
Richard Thomas
Andrew Hackney
Tom Ballard
Hudson Sandler Tel: 0207 796 4133
Nick Lyon
Fern Duncan
For further information, please visit Norcros' website:
www.norcros.com
This information is provided by RNS
The company news service from the London Stock Exchange
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