Issued on behalf of Flowtech Fluidpower plc
FLOWTECH FLUIDPOWER PLC
("Flowtech Fluidpower" the "Group" or "Company")
Deferred Consideration paid in shares
Flowtech Fluidpower plc (Symbol: AIM: FLO) announces that, in relation to the acquisition of Hydravalve (UK) Limited ("Hydravalve") in March 2016, the Company has agreed to pay the remaining £50,000 of the deferred consideration owed to the vendors of Hydravalve in ordinary shares of 50 pence each in the Company ("Ordinary Shares"), having previously settled the majority of the deferred consideration in cash.
This remaining consideration of £50,000 owed to the vendors will be settled through the issue of 43,780 Ordinary Shares in the Company at a price of 114.21p per share.
The 43,780 new Ordinary Shares issued will rank pari passu with the Company's existing Ordinary Shares and admission to trading on AIM is expected to take place on or around 30 October 2018 ("Admission").
Total Voting Rights
The total enlarged issued share capital of the Company following Admission will be 60,920,386 Ordinary Shares. The Company does not hold any ordinary shares in treasury. Therefore, the total number of Ordinary Shares in the Company with voting rights will be 60,920,386. This figure may 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 share capital of the Company under the Disclosure and Transparency Rules of the UK Financial Conduct Authority.
Flowtech Fluidpower plc
Malcolm Diamond MBE, Chairman
Bryce Brooks, Chief Executive Officer and Chief Financial Officer
Tel: 44 (0) 1695 52796
Zeus Capital Limited (Nominated Adviser and Broker)
Andrew Jones, Alistair Donnelly (corporate finance)
Dominic King, John Goold (sales & broking)
Tel: 44 (0) 161 831 1512
finnCap Limited (Joint Broker)
Ed Frisby, Kate Bannatyne (corporate finance)
Rhys Williams, Emily Morris (sales & broking)
Tel: 44 (0) 20 7220 0500
TooleyStreet Communications (IR and media relations)
Tel: 44 (0) 7785 703523 or email: email@example.com