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21 Mar 2017 07:00
Flowgroup plc
("Flow" or the "Company" or the "Group")
Update re sale of Flow Energy Limited
On 8 February, the Company announced that it was actively pursuing the sale of Flow Energy Limited and can now report that, following that announcement, it received a number of indicative offers for that part of the Group. The Company announces that it has selected a preferred bidder and has entered into an exclusivity agreement with this party. Whilst there can be no guarantee that the sale of Flow Energy Limited will complete with this party, or that the sale of Flow Energy Limited will complete at all, the Company expects to make a further announcement in the coming weeks. Any disposal would be conditional on shareholder approval.
The Directors continue to consider alternative funding options for the Group should the disposal of Flow Energy Limited not conclude for any reason.
Flowgroup plc | www.flowgroup.uk.com | |
Tony Stiff, Group Chief Executive Officer | Tel: +44 (0)20 3137 4525 | |
Nigel Canham, Chief Financial Officer |
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Cenkos Securities plc (NOMAD and Broker) | Tel: +44 (0)20 7397 8900 | |
Stephen Keys/Callum Davidson (Corporate Finance) |
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Julian Morse (Sales) |
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Walbrook PR Ltd (Media Relations) | Tel: +44 (0)20 7933 8780 or flowgroup@walbrookpr.com | |
Paul McManus | Mob: +44 (0)7980 541 893 | |
Nick Rome | Mob: +44 (0)7748 325 236 | |
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