Inspecs Group Regulatory News (SPEC)

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OR BREACH OF ANY APPLICABLE LAW.

27 February 2020

Inspecs Group plc

(the "Company" or "Inspecs")

ADMISSION TO TRADING ON AIM

AND

FIRST DAY OF DEALINGS

Inspecs (AIM: SPEC), a designer, manufacturer and distributor of eyewear frames to global retail chains, is pleased to announce the admission of its entire issued and to be issued ordinary share capital to trading on the AIM Market of the London Stock Exchange ("AIM"). Admission will occur at 8.00 a.m. today, under the ticker "SPEC" and the ISIN: GB00BK6JPP03.

The Company has successfully raised £23.5 million (before expenses) by way of a placing of 12,051,282 new Ordinary Shares with institutional and other investors at a price of 195 pence per Ordinary Share (the "Placing Price"). In addition, 36,171,506 existing Ordinary Shares have been placed on behalf of Selling Shareholders at the Placing Price, raising gross proceeds of £70.5 million. The Company's market capitalisation on Admission is £138.0 million. Peel Hunt is acting as Sole Bookrunner, Broker and Nominated Adviser.

The Company's AIM admission document is available to view on the Company's website: www.inspecs.com/investors. Terms capitalised in this announcement but not defined herein shall have the meaning given to them in the admission document.

Robin Totterman, CEO of Inspecs said:

"Our admission to AIM represents a landmark moment for Inspecs. It will enable the business to grow and develop, both organically and through accretive acquisitions, as we build our market share in the globally expanding eyewear market.

"I would like to thank all of our people, who have been instrumental in building such a successful business and welcome our new shareholders to the register."

- Ends -

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About Inspecs Group plc

Inspecs is a designer, manufacturer and distributor of eyewear frames. The Group produces a broad range of frames, covering optical, sunglasses and safety, which are either "Branded" (either under licence or under the Group's own proprietary brands), or "OEM" (including private label on behalf of retail customers and un-branded). As one of only a few companies that can offer this one-stop-shop solution to global retail chains, the Directors believe Inspecs is well positioned to continue to take market share in the globally expanding eyewear market.

Inspecs customers include global optical and non-optical retailers, global distributors and independent opticians, with its distribution network covering over 80 countries and reaching approximately 30,000 points of sale. In FY18, the Group generated 22.8 per cent. of its revenue in the UK and 77.2 per cent. internationally.

Today Inspecs has operations across the globe: with offices in the UK, Portugal, Scandinavia, the US and China (Hong Kong, Macau and Shenzhen), and manufacturing facilities in Vietnam, China, London and more recently, Italy.

The Group's growth strategy going forward is to: (i) continue to grow organically; (ii) undertake further acquisitions (and drive value through leveraging the Group's internal capabilities); and (iii) extend the Group's manufacturing capacity.

Important information:

Neither this announcement nor any copy of it may be (i) taken, transmitted or distributed, directly or indirectly, in or into the United States, or its territories (except under the limited circumstances described below), (ii) taken or transmitted into or distributed in Canada, Australia, or the Republic of South Africa or to any resident thereof, except in compliance with applicable securities laws, or (iii) taken or transmitted into or distributed in Japan or to any resident thereof for the purpose of solicitation or subscription or offer for sale of any securities or in the context where the distribution thereof may be construed as such solicitation or offer. Any failure to comply with these restrictions may constitute a violation of the securities laws or the laws of any such jurisdiction. The distribution of this announcement in other jurisdictions may be restricted by law and the persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.

This announcement does not constitute an offer to sell or an invitation to subscribe for, or solicitation of an offer to subscribe for or buy, shares to any person in any jurisdiction to whom it is unlawful to make such offer, invitation or solicitation.

THE ORDINARY SHARES HAVE NOT BEEN APPROVED OR DISAPPROVED BY THE US SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION IN THE UNITED STATES OR ANY OTHER US REGULATORY AUTHORITY, NOR HAVE ANY OF THE FOREGOING AUTHORITIES PASSED UPON OR ENDORSED THE MERITS OF ANY PROPOSED OFFERING OF THE ORDINARY SHARES OR CONFIRMED THE ACCURACY OR THE ADEQUACY OF THIS ANNOUNCEMENT. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENCE IN THE UNITED STATES.

The Ordinary Shares have not been and will not be registered under the United States Securities Act of 1933 (the "Securities Act") or with any securities regulatory authority of any state or other jurisdiction of the United States, and may not be offered, sold, pledged or otherwise transferred directly or indirectly in or into the United States, except that the Ordinary Shares may be offered and sold: (a) in the United States solely to a limited number of "qualified institutional buyers" as defined in, and in reliance on, Rule 144A under the Securities Act; and (b) outside the United States in "offshore transactions" as defined in, and in reliance on, Regulation S under the Securities Act.

Peel Hunt which is authorised and regulated in the United Kingdom by the FCA, is acting as nominated adviser, broker and sole bookrunner to the Company in connection with the Placing and Admission and will not be acting for any other person (including a recipient of this announcement) or otherwise be responsible to any person for providing the protections afforded to clients of Peel Hunt or for advising any other person in respect of the Placing and Admission or any transaction, matter or arrangement referred to in this announcement. Peel Hunt's responsibilities as the Company's nominated adviser under the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or to any Director or to any other person in respect of his decision to acquire shares in the Company in reliance on any part of this announcement or the Admission Document. Apart from the responsibilities and liabilities, if any, which may be imposed on Peel Hunt by the FSMA or the regulatory regime established thereunder, Peel Hunt does not accept any responsibility whatsoever for the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by it, or on its behalf, in connection with the Company, the Ordinary Shares or the Placing and Admission. Peel Hunt accordingly disclaims all and any liability whether arising in tort, contract or otherwise (save as referred to above) in respect of this announcement or any such statement.