17 Jan 2020 12:58
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION
17 January 2020
Tricorn Group plc
("Tricorn" or the "Company")
Update re Irrevocables
and
Posting of Circular
Further to its announcement of earlier today (the "Announcement"), Tricorn (AIM: TCN.L), the AIM quoted tube manipulation specialist, is pleased to announce that it has today received an irrevocable undertaking from each of Yvonne Allsop (who holds 5,600,000 Ordinary Shares representing 16.33 per cent. of the Existing Ordinary Shares) and The Roger Allsop Discretionary Settlement (which holds 700,000 Ordinary Shares representing 2.04 per cent. of the Existing Ordinary Shares) to subscribe for their Basic Entitlements under the Open Offer in full and, save as set out in the Announcement, not to subscribe for any further Ordinary Shares prior to Admission. Yvonne Allsop and The Roger Allsop Discretionary Settlement have also undertaken not to vote on the Whitewash Resolution (Resolution 1 in the Notice of General Meeting).
Following receipt of the irrevocable undertakings from Yvonne Allsop and The Roger Allsop Discretionary Settlement, the Company has irrevocable undertakings on the terms described above from Shareholders holding in aggregate 11,770,000 Ordinary Shares representing 34.32 per cent. of the Existing Ordinary Shares:
Name | Total No. of Existing Ordinary Shares | Percentage of Existing Issued Share Capital |
Roger Allsop | 4,920,000 | 14.35% |
Yvonne Allsop | 5,600,000 | 16.33% |
The Roger Allsop Discretionary Settlement | 700,000 | 2.04% |
Andrew Moss | 450,000* | 1.31% |
Jane Moss | 100,000** | 0.29% |
Total | 11,770,000 | 34.32% |
* This includes 300,000 Ordinary Shares beneficially held by Andrew Moss in an ISA.
** These Ordinary Shares are beneficially held by Jane Moss in an ISA.
In addition, the Company announces that copies of the Circular, including the Notice of General Meeting, together with the Form of Proxy and Application Form will be posted to Shareholders later today. The Circular will be made available on the Company's website, www.tricorn.uk.com.
Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the Announcement.
For further information please contact:
For further information contact:
Tricorn Group plc | Tel +44 (0)1684 569956 |
Mike Welburn, Chief Executive | www.tricorn.uk.com |
Phil Lee, Group Finance Director | corporate@tricorn.uk.com |
Shore Capital | Tel + 44 (0)20 7408 4080 |
Tom Griffiths - Corporate Advisory David Coaten - Corporate Advisory Henry Willcocks - Corporate Broking |
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.
TCN.L (TCN)