20 Sep 2017 11:08
20 September 2017
The 600 Group Plc
("The Company")
Issue of Equity
The 600 Group PLC, the AIM listed distributor, designer and manufacturer of industrial products, is pleased to announce that it has raised £1.12m before expenses by way of a direct subscription with the Company of 8,615,384 new ordinary shares of 1p each ("Ordinary Shares") at an issue price of 13p per share (the "Subscription Shares") (the "Subscription").
It is intended that the proceeds of the Subscription will be used to reduce UK bank borrowings and provide working capital for the Company.
Completion of the Subscription is conditional on admission of the Subscription Shares to trading on AIM ("Admission"). Application will be made for the Subscription Shares to be admitted to trading on AIM and it is expected that Admission will take place on or around 28 September 2017.
Following Admission, the Company will have 112,973,341 Ordinary Shares in issue. The Company does not hold any Ordinary Shares in treasury. The total number of Ordinary Shares in the Company with voting rights will therefore be 112,973,341.
The above figure 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, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Enquiries: | |
The 600 Group PLC | Tel: 01924 415000 |
Paul Dupee, Executive Chairman | |
Neil Carrick, Finance Director | |
Spark Advisory Partners Limited (NOMAD) | Tel: 020 3368 3553 |
Matt Davis/ Miriam Greenwood | |
Cadogan PR Limited (Financial PR) | Tel: 020 7499 5002 / 07771 713608 |
Alex Walters | |
FinnCap (Broker) | Tel: 020 7600 1658 |
Tony Quirke/Mia Gardiner (Sales/Broking) |
More information on the Group can be viewed at: www.600group.com
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.