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9 Sep 2016 11:46
Kromek Group plc
("Kromek" or the "Company")
Block Admission
The Company announces that an application has been made to AIM for a block admission in respect of 2,510,000 ordinary shares of 1p each ("New Ordinary Shares") in the share capital of the Company (the "Block Admission"). This Block Admission will increase the number of shares under the Company's existing block admission, which is used to satisfy the issue of shares pursuant exercises of options under the Company's EMI Scheme ("EMI Scheme").
An application has been made for the New Ordinary Shares to be admitted to trading on AIM ("Admission"), which is expected to occur on 14 September 2016.
The Company currently has a balance of 490,000 shares remaining under its existing block listing, which will be increased to 3,000,000 following Admission. This figure is considered adequate for anticipated exercises of options under the EMI Scheme for the foreseeable future.
The Company's issued share capital will not change as a result of the Block Admission. The Company expects to publish its usual 6 monthly Block Listing Interim Review on or around 30 September 2016.
9 September 2016
Enquiries:
Kromek Group plc | |
Arnab Basu, CEO Derek Bulmer, CFO | +44 (0)1740 626 060 |
Cenkos Securities plc | |
Bobbie Hilliam (NOMAD) Julian Morse (Sales) | +44 (0)20 7397 8900 |
Luther Pendragon Ltd | |
Harry Chathli, Claire Norbury, Alexis Gore | +44 (0)20 7618 9100 |
About Kromek Group plc
Kromek Group plc is a UK technology company (global HQ in County Durham) and a leading developer of high performance radiation detection products based on cadmium zinc telluride ("CZT"). Using its core CZT technology, Kromek designs develops and produces x-ray and gamma ray imaging and radiation detection products for the medical, security screening and nuclear markets.
The Group's products provide high resolution information on material composition and structure and are used in multiple applications, ranging from the identification of cancerous tissues to hazardous materials, such as explosives, and the analysis of radioactive materials.
The Group's business model provides a vertically integrated technology offering to customers, from the growth of CZT crystals to finished products or detectors, including software, electronics and application specific integrated circuits ("ASICs").
The Group has operations in the UK, Germany and US (California and Pennsylvania), and is selling internationally through a combination of distributors and direct OEM sales.
Currently, the Group has over a hundred full time employees across its global operations. Further information on Kromek Group is available at www.kromek.com.
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