Walker Crips Group plc Issue of Equity and Total Voting Rights (9079E)
May 12 2017 - 2:00AM
UK Regulatory
TIDMWCW
RNS Number : 9079E
Walker Crips Group plc
12 May 2017
12 May 2017
Walker Crips Group plc
Issue of Equity and Total Voting Rights
Further to its announcement of 9 March 2015 regarding the
acquisition of Barker Poland Asset Management LLP ("BPAM"), Walker
Crips Group plc ("Walker Crips" or the "Company"), the financial
services group with activities including stockbroking, investment
and wealth management, announces that an aggregate of 173,161 new
ordinary shares in the capital of Company (the "BPAM Shares") have
been issued and allotted to the Sellers of BPAM in order to satisfy
the Company's obligations in connection with the payment of the
year two BPAM deferred consideration. The BPAM business has met the
targets required to trigger a payment by the Company of the full
amount of the 2(nd) of 3 potential payments of deferred
consideration.
Under the terms of the agreement for the acquisition of BPAM,
deferred consideration may become due in each of the first three
years following completion, dependent on the results achieved by
the legacy BPAM Business. All deferred consideration due under the
agreement is payable 90% in cash and 10% in new ordinary shares in
the Company. The cash element of the year two deferred
consideration has been satisfied from the Company's existing cash
resources.
In addition, a further 178,574 new ordinary shares (the
"Additional Shares" and, together with the BPAM Shares, the
"Shares") have been issued and allotted to personnel associated
with the Company in order to meet contractual commitments made by
the Company as part of the ongoing recruitment of investment
advisers and expansion of its client base. It has been agreed that
the onward sale of these Additional Shares will be restricted for
the period until 21 March 2021 at the earliest.
Application is being made to the UK Listing Authority for the
Shares (which, in aggregate, amount to 351,735 Shares) to be
admitted to the Official List, and application is being made to the
London Stock Exchange for the Shares to be admitted to trading on
its main market for listed securities. It is expected that such
admission will become effective at 8.00 am on 16 May 2017
("Admission").
In accordance with the Financial Conduct Authority's Disclosure
and Transparency Rules, the Company notifies the market that
following Admission, the Company's issued share capital will
consist of 42,738,158 ordinary shares with a nominal value of 6 2/3
pence each ("Ordinary Shares") with each Ordinary Share carrying
the right to one vote. The Company holds 750,000 Ordinary Shares in
Treasury. Therefore, following Admission, the Company will have
41,988,158 Ordinary Shares in issue (excluding treasury shares)
and, accordingly, the total number of voting rights in the Company
will be 41,988,158.
The above figure 41,988,158 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, Walker Crips Group plc under the Financial Conduct
Authority's Disclosure and Transparency Rules.
For further information contact:
Walker Crips Group plc +44 (0) 20 3100 8000
Rodney FitzGerald, Chief Executive
Cantor Fitzgerald Europe +44 (0) 20 7894 7667
Rishi Zaveri
Forward-Looking Statements
This Announcement contains (or may contain) certain
forward-looking statements with respect to certain of the Company's
current expectations and projections about future events. These
statements, which sometimes use words such has "aim, "anticipate",
"believe", "intend", "plan", "estimate", "expect" and words of a
similar meaning, reflect the directors' beliefs and expectations
and involve a number of risks, uncertainties and assumptions that
could cause actual results and performance to differ materially
from any expected future results or performance expressed or
implied by the forward-looking statement. By their nature,
forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances. Statements
contained in this Announcement regarding past trends or activities
should not be taken as a representation that such trends or
activities will continue in the future. The information contained
in this Announcement is subject to change without notice and,
except as required by applicable law, neither the Company, nor any
member of its group, its Directors or its Financial Adviser assumes
any responsibility or obligation to update publicly or review any
of the forward-looking statements contained therein. Investors
should not place undue reliance on forward-looking statements,
which speak only as of the date of this Announcement. No statement
in this Announcement is or is intended to be a profit forecast or
to imply that the earnings of the Company for the current or future
financial years will necessarily match or exceed the historical or
published earnings of the Company.
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCZMGMKFMGGNZM
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May 12, 2017 02:00 ET (06:00 GMT)
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