7 Sep 2012 07:00
Date: | 7 September 2012 |
On behalf of: | Advanced Power Components PLC ('APC' or 'the Company') |
Embargoed until: | 0700hrs |
Advanced Power Components Plc
("APC" or the "Company")
Increased shareholding in Minimise
Issue of Equity
Advanced Power Components (AIM: APC), the UK specialist distributor and manufacturers' representative of electronic components, is pleased to announce that the Company has reached agreement regarding the acquisition of an additional 5.4% shareholding in Minimise Limited ("Minimise"), a company engaged in the sales and marketing of the Group's imopTM and other products which enable their clients to reduce their energy consumption. This acquisition increases the Company's holding in Minimise to 41.6% further to the previous acquisition announced on 7 August 2012.
Consideration for the acquisition of the shareholding will be in the form of an issue of APC shares at 7.62p per ordinary share on 6 September 2012 and values the consideration at £32,273.
The Company continues to bein discussions with the directors andremaining shareholders of Minimise Limited regarding the potential acquisition of additional shares in Minimise. In the event that satisfactory terms are agreed, further announcements will be made in due course.
Application has been made to the London Stock Exchange for 489,272 Ordinary Shares to be admitted to AIM. Admission is expected to become effective and dealings in the Ordinary Shares are expected to commence at 8.00 a.m. on 12 September 2012. Following admission of these shares, the Company will have 30,068,987Ordinary Shares in issue. The new Ordinary Shares will rank pari passu in all respects with the existing ordinary shares.
The aforementioned figure of 30,068,987 Ordinary Shares may be used by shareholders in the Company 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, APC under the Financial Services Authority's Disclosure and Transparency Rules.
Will David, Chairman of APC, commented:
"We are pleased to announce this further acquisition of shares in Minimise Limited which follows the announcement made on 7 August 2012. It is hoped that we will be able to increase our shareholding in Minimise further as we see significant potential in the market for energy saving products marketed by this organisation."
Enquiries:
Advanced Power Components plc | 01634 290588 |
Mark Robinson, Chief Executive Officer Rob Smith, Finance Director | www.apc-plc.co.uk |
Strand Hanson Limited | 020 7409 3494 |
James Harris / Angela Hallett | |
Northland Capital Partners Limited | 020 7448 4400 |
Andy Hanson | |
Redleaf Polhill | 020 7566 6727 |
Henry Columbine / David Ison | apc@redleafpr.com |
About Advanced Power Components
APC plc is a leading specialist distributor of electronic components, comprising nine areas of activity:
§ APC Hi-Rel distributes a variety of specialist electronic components into applications where component reliability is of paramount importance. Hi-Rel's franchised product lines include power semiconductors, power supplies, memory, wound and high voltage components.
§ APC Locator is the number one solutions provider for obsolete and hard-to-find parts, with 25 years' experience in the industrial and defence/aerospace markets across Europe.
§ APC Hero has a specialist technical sales team focussing on sensors and measurement, power management, communications & connectivity and embedded computing applications.
§ APC Go! provides a kitting and materials management service to companies wanting to outsource non core activities, offering services ranging from material procurement to full production management.
§ APC Displays+ provides dedicated technical and commercial support for a wide range of displays, driver boards, ICs, single board computers and all related connectivity.
§ APC Novacom is a distributor and manufacturers' representative for RF and microwave frequency electronic components. The business is managed by a team of technical specialists with many years experience in the RF and Microwave industry.
§ APC Contech is a distributor of specialist data input devices for industrial, broadcasting and medical sectors providing technically advanced solutions for specific application areas.
§ APC imop™ is a manufacturer and distributor of power saving equipment which optimises the performance of electrical motors, leading to reduced energy consumption and cost savings.
§ QV Controls Limited is a designer, manufacturer and supplier of DALI-IP technology based lighting and energy management systems that improve energy efficiency and lighting performance within commercial, industrial and high end residential buildings.