Tricorn Group PLC Result of Open Offer (8119B)
04 February 2020 - 6:00PM
UK Regulatory
TIDMTCN
RNS Number : 8119B
Tricorn Group PLC
04 February 2020
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
4 February 2020
Tricorn Group plc
("Tricorn" or the "Company")
Result of Open Offer
Further to its announcement on 17 January 2020, Tricorn, the AIM
quoted tube manipulation specialist, confirms that the Open Offer
closed for acceptances at 11.00 a.m. on 3 February 2020 with valid
applications received from Qualifying Shareholders in respect of
6,406,638 Open Offer Shares including applications under the Excess
Application Facility. The Open Offer was to raise GBP0.49 million
and was heavily oversubscribed.
Qualifying Shareholders who have validly applied for Open Offer
Shares will receive their full Basic Entitlement. Applications for
new Ordinary Shares under the Excess Application Facility will be
scaled back pro rata to the number of Excess Shares applied for by
Qualifying Shareholders under the Excess Application Facility.
Accordingly, including the additional funds raised though the
Open Offer, the Company will have raised a total of approximately
GBP1.49 million (before expenses) via the Placing, Subscription and
the Open Offer, following the issue and allotment of 4,899,285 Open
Offer Shares. An application has been made for, in aggregate,
14,924,285 new Ordinary Shares (including the Broker Shares) to be
admitted to trading on AIM ("Admission"), which is expected to take
place at 8.00 a.m. on 5 February 2020.
The Open Offer remains conditional upon, inter alia, the
approval of Shareholders at the General Meeting to be held at 11.00
a.m. today and Admission.
This announcement should be read in conjunction with the full
text of the Circular, which was posted to Shareholders on 17
January 2020, copies of which are available on the Company's
website at www.tricorn.uk.com. Capitalised terms in this
announcement have the same meaning as given in the Circular.
This announcement includes inside information as defined in
Article 7 of the Market Abuse Regulation No. 596/2014 and is
disclosed in accordance with the Company's obligations under
Article 17 of those Regulations.
For further information please contact:
Tricorn Group plc
Mike Welburn, Chief Executive Tel +44 (0)1684 569956
Phil Lee, Group Finance www.Tricorn.uk.com
Director corporate@tricorn.uk.com
Shore Capital
Tom Griffiths - Corporate Tel + 44 (0)20 7408 4080
Advisory
David Coaten - Corporate
Advisory
Henry Willcocks - Corporate
Broking
The person responsible for arranging the release of this
announcement on behalf of the Company is Mike Welburn, Chief
Executive Officer of the Company.
Notes to Editors:
Tricorn is a value added manufacturer and specialist manipulator
of pipe and tubing assemblies to niche markets worldwide.
For further information, please visit: www.tricorn.uk.com.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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