5 May 2016 13:00
5 May 2016
Northbridge Industrial Services Plc
("Northbridge" or the "Group")
Results of General Meeting and of Open Offer and Admission to AIM
Northbridge Industrial Services Plc, the industrial services and rental company, is pleased to announce that at the General Meeting of Shareholders held earlier today, all resolutions, including those required to implement the Placing and Open Offer, were duly passed.
The underwritten Open Offer closed for acceptances at 11.00 a.m. on 4 May 2016, and the Company is delighted to confirm that it has received valid acceptances (including Excess Applications) in respect of approximately 3.2 million Ordinary Shares from Qualifying Shareholders for a total number of 1,474,044 Ordinary Shares available under the Open Offer. Accordingly, applications up to the level of the Basic Entitlements will be satisfied in full, and Excess Applications will be scaled back pro rata.
Second Admission to trading on AIM of the 1,474,044 Open Offer Shares and of the 4,200,000 Second Placing Shares is expected to take place tomorrow.
Total Voting Rights
After Second Admission, the Company's issued share capital will comprise 26,114,752 Ordinary Shares, including 215,150 Ordinary Shares held in treasury.
Therefore the figure of 25,899,602 Ordinary Shares should 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 in their interest in, the share capital of the Company under the FCA's Disclosure and Transparency Rules.
Capitalised terms used in this announcement will, unless otherwise stated, have the same meaning given to them in the circular posted to Shareholders on 19 April 2016.
-Ends-
For further information
Northbridge Industrial Services Plc 01283 531645
Eric Hook, Chief Executive Officer
Stockdale Securities Limited (Bookrunner, Nominated Adviser and Broker) 020 7601 6100
Robert Finlay / Antonio Bossi / Henry Willcocks
Buchanan 020 7466 5000
Charles Ryland / Stephanie Watson
About Northbridge:
Northbridge Industrial Services plc hires and sells specialist industrial equipment. With offices or agents in the UK, USA, Dubai, Belgium, Germany, France, Australia, New Zealand, Singapore, China, Brazil and South Korea, Northbridge has a global customer base. This includes utility companies, the oil and gas sector, shipping, banking, mining, construction and the public sector. The product range includes loadbanks, transformers and oil tools. Northbridge was admitted to AIM in 2006 since when it has grown by providing a high level of service, responsiveness and flexibility to customers and through the acquisition of companies in the UK, Dubai, Australia, Belgium, New Zealand and Singapore and through investing further in those acquired companies to make them more successful. Northbridge continues to seek suitable businesses for acquisition across the world.