Last checked at 17 Dec 2019 08:57
Adams plc
("Adams" or the "Company")
Disposal
The Directors announce that, on 16 December 2019, Adams sold the whole of its remaining holding of 275,643 ordinary shares of US$0.02 each in Petrofac Limited on the Main Market of the London Stock Exchange at a price of £4.01 per share for a total cash consideration of £1,104,656. Following this disposal, the Company will have cash balances of approximately £1,600,000. The Directors intend to reinvest the proceeds of the disposal in accordance with the Company's Investing Policy.
Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.
Enquiries:
Adams plc | |
Mike Bretherton | Tel: +44 1534 719 761 |
Nomad | |
Cairn Financial Advisers LLP | |
Sandy Jamieson, James Caithie | Tel: +44 207 213 0880 |
Broker | |
Peterhouse Corporate Finance Limited | |
Lucy Williams, Duncan Vasey | Tel: +44 207 469 0930 |