4 Feb 2020 07:00
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
4 February 2020
Tricorn Group plc
("Tricorn" or the "Company")
Result of Open Offer
Further to its announcement on 17 January 2020, Tricorn, the AIM quoted tube manipulation specialist, confirms that the Open Offer closed for acceptances at 11.00 a.m. on 3 February 2020 with valid applications received from Qualifying Shareholders in respect of 6,406,638 Open Offer Shares including applications under the Excess Application Facility. The Open Offer was to raise £0.49 million and was heavily oversubscribed.
Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement. Applications for new Ordinary Shares under the Excess Application Facility will be scaled back pro rata to the number of Excess Shares applied for by Qualifying Shareholders under the Excess Application Facility.
Accordingly, including the additional funds raised though the Open Offer, the Company will have raised a total of approximately £1.49 million (before expenses) via the Placing, Subscription and the Open Offer, following the issue and allotment of 4,899,285 Open Offer Shares. An application has been made for, in aggregate, 14,924,285 new Ordinary Shares (including the Broker Shares) to be admitted to trading on AIM ("Admission"), which is expected to take place at 8.00 a.m. on 5 February 2020.
The Open Offer remains conditional upon, inter alia, the approval of Shareholders at the General Meeting to be held at 11.00 a.m. today and Admission.
This announcement should be read in conjunction with the full text of the Circular, which was posted to Shareholders on 17 January 2020, copies of which are available on the Company's website at www.tricorn.uk.com. Capitalised terms in this announcement have the same meaning as given in the Circular.
This announcement includes inside information as defined in Article 7 of the Market Abuse Regulation No. 596/2014 and is disclosed in accordance with the Company's obligations under Article 17 of those Regulations.
For further information please contact:
Tricorn Group plc | |
Mike Welburn, Chief Executive | Tel +44 (0)1684 569956 |
Phil Lee, Group Finance Director | www.Tricorn.uk.com corporate@tricorn.uk.com |
Shore Capital | |
Tom Griffiths - Corporate Advisory David Coaten - Corporate Advisory Henry Willcocks - Corporate Broking | Tel + 44 (0)20 7408 4080 |
The person responsible for arranging the release of this announcement on behalf of the Company is Mike Welburn, Chief Executive Officer of the Company.
Notes to Editors:
Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide.
For further information, please visit: www.tricorn.uk.com.