Accrol Gp Regulatory News (ACRL)

23 November 2020

Accrol Group Holdings plc

("Accrol", the "Group" or the "Company")

AIM: ACRL

Admission of Shares,Placing, Open Offer, Option Exercise andTotal Voting Rights

Following the announcement made by the Company dated 3 November 2020 and titled "Confirmation of Successful Placing", Accrol Group Holdings plc, a leading independent tissue converter in the UK, today announces that 116,108,096 new ordinary shares of £0.001 each in the Company ("New Shares") have been admitted to trading on AIM ("Admission").

The New Shares comprise new ordinary shares issued and allotted by the Company in connection with:

· A primary placing of 87,500,000 New Shares to raise £38.5 million (before expenses) ("Primary Placing");

· An open offer of 9,297,454 New Shares to raise c.£4.1 million (before expenses) ("Open Offer"); and

· The exercise of share options ("Option Exercise") by certain members of the Accrol management team ("Optionholders") in respect of 19,310,642 New Shares pursuant to the Accrol Group Management Incentive Plan ("Option Shares"), with 6,454,668 of such shares being sold to placees pursuant to a secondary placing ("Secondary Placing")

Further details of the Primary Placing, the Open Offer, the Option Exercise and the Secondary Placing are contained in the Circular published by the Company on 4 November 2020 ("Circular"). As the result of Admission, the Primary Placing, the Open Offer, the Option Exercise and the Secondary Placing have now completed.

Acquisition of Leicester Tissue Company Limited

As announced by the Company on 2 November 2020, the Company has conditionally agreed to acquire the entire issued share capital of the Leicester Tissue Company Limited (and its group companies) (together the "LTC Group") (the "Acquisition"). Further details of the Acquisition are detailed in that announcement and in the Circular.

Accrol can confirm that all pre-completion conditions have been met in connection with the Acquisition, with the exception of the satisfaction of the Initial Consideration (as defined in the Circular), which is to be satisfied by the Company on completion of the Acquisition (the "Final Condition"). It is expected that the Final Condition will be satisfied by the Company on or around 25 November 2020 and accordingly, that the Acquisition is expected to complete on 25 November 2020.

Total Voting Rights

Following Admission, the Company will have 311,354,632 ordinary shares of £0.001 each ("Ordinary Shares") in issue. The Company does not currently hold any shares in treasury. Therefore, the total number of voting rights in the Company following Admission will be 311,354,632. Shareholders may use this figure 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 issued share capital of the Company, under the FCA's Disclosure Guidance and Transparency Rules.

Notes to Editors

Accrol Group Holdings plc, based in Lancashire, is a leading tissue converter and supplier of toilet tissues, kitchen rolls and facial tissues, as well as other tissue products, to major discounters and grocery retailers throughout the UK. The business operates from four sites in Lancashire:

For more information, please visit www.accrol.com.