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21 Mar 2019 08:30
21 March 2019
Filta Group Holdings plc("Filta" or the "Company" or the "Group")
Completion of acquisition of Watbio Holdings Limited
Total Voting Rights
Filta Group Holdings plc (AIM: FLTA), a leading provider of fryer management, grease management solutions and other services to commercial kitchens, is pleased to announce that, further to the announcement dated 19 December 2018, the second and final tranche of consideration in relation to the acquisition of Watbio Holdings Limited ("Watbio") has been finalized. Final consideration comprises a cash payment , inclusive of the working capital adjustment, of £1.44 million and the issue of 125,000 new ordinary shares of 10 pence each in the capital of the Company ("Second Tranche Consideration Shares"). Payment is expected to take place on 22 March 2019. This final payment brings the total consideration paid on the transaction to £6.09 million.
Accordingly, application has been made for the Second Tranche Consideration Shares to be admitted to trading on AIM, and it is expected that admission will occur at 8.00 a.m. on or around 22 March 2019. Following admission of the Second Tranche Consideration Shares, the Company's issued ordinary share capital will comprise 29,052,855 ordinary shares, none of which are held in treasury. Therefore, the total number of ordinary shares with voting rights in the Company will be 29,052,855, which 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, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Jason Sayers, Chief Executive Officer of Filta, commented:
"We have been delighted with the acquisition of Watbio, and its integration into our existing business is well underway. We continue to identify further potential synergies between the two businesses, and believe there are significant opportunities to realise additional value for shareholders."
For further information please contact:
Filta Group Holdings plc Tel: +1 407 996 5550
Jason Sayers, Chief Executive Officer
Brian Hogan, Finance Director
Cenkos Securities (Nomad and Broker) Tel: +44 (0)20 7397 8900
Stephen Keys
Harry Hargreaves
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