ACCROL GROUP HOLDINGS PLC
(AIM: ACRL)
Open Offer Closed, Admission of Open Offer Shares and Total Voting Rights
Accrol Group Holdings plc (the “Company” or “Accrol”), the AIM-listed leading independent tissue converter, notes that the open offer to raise up to £1.935 million described in the announcement dated 22 May 2018 titled “Open Offer” (the “Open Offer”) closed for acceptances at 11.00 a.m. on 6 June 2018 in accordance with its terms. The Company reports that it has received valid applications in respect of a total of 37,108,972 new ordinary shares of £0.001 in the Company (“New Ordinary Shares”), representing a percentage take up of 287.64 per cent. of the New Ordinary Shares available under the Open Offer.
12,901,200 New Ordinary Shares are available under the Open Offer. All qualifying shareholders who applied for some or all of their basic entitlement to New Ordinary Shares under the Open Offer will have those applications satisfied in full. Qualifying shareholders who, in addition to applying in full for their basic entitlement to New Ordinary Shares under the Open Offer, applied for New Ordinary Shares under the excess application facility will have their applications under that facility satisfied on a basis that takes account of their respective holdings of shares in the Company as at 5.00 p.m. on 18 May 2018.
The aggregate amount raised pursuant to the Open Offer is approximately £1.935 million.
Application has been made for the 12,901,200 New Ordinary Shares to be issued pursuant to the Open Offer to be admitted to trading on AIM (“Admission”). It is expected that Admission and dealings in those shares will commence at 8.00 a.m. on 8 June 2018.
Immediately following Admission, there will be 195,246,536 ordinary shares of £0.001 in the capital of Accrol in issue, with one voting right each. The Company does not hold any shares in treasury. The number of ordinary shares with voting rights will therefore be 195,246,536. Accordingly, this number should be used by shareholders 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 Company under the FCA's Disclosure Guidance and Transparency Rules.