30 January 2024
Lords Group Trading
plc
('Lords',
the 'Company' or the 'Group')
Vesting of DBP Shares and
Issue of Equity
Lords, a leading distributor of
building materials in the UK, announces the issuance of 410,973 new
ordinary shares of 0.5 pence each in the Company ("New Ordinary
Shares") pursuant to the Group's 2021 Deferred Bonus Plan ("DBP"),
which have now vested. There are no further awards capable of
vesting under the DBP.
Accordingly, an application has been
made for the New Ordinary Shares to be admitted to trading on the
AIM Market of the London Stock Exchange ("Admission"), and it is
expected that Admission will occur at 8.00 a.m. on 1 February 2024.
The New Ordinary Shares will rank pari passu with the existing
Ordinary Shares in issue. Following Admission of the new Ordinary
Shares, the Company's issued ordinary share capital will
comprise 165,943,822 Ordinary Shares, none of which are held
in treasury.
Therefore, following Admission of
the new Ordinary Shares, the total number of Ordinary Shares with
voting rights in the Company will be 165,943,822, which 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 Company under
the Financial Conduct Authority's Disclosure Guidance and
Transparency Rules.
- Ends -
FOR
FURTHER ENQUIRIES:
|
Lords Group Trading plc
|
Via
Buchanan
|
|
Shanker Patel, Chief Executive
Officer
Chris Day, Chief Financial Officer
and Chief Operating Officer
|
Tel: +44
(0) 20 7466 5000
|
|
|
|
|
Cavendish Capital
Markets (Nominated
Adviser and Joint Broker)
|
Tel: +44
(0)20 7220 0500
|
|
Ben Jeynes / Dan Hodkinson (Corporate
Finance)
|
|
|
Julian Morse / Henry Nicol / Charlie Combe
(Sales and ECM)
|
|
|
Berenberg (Joint
Broker)
Matthew Armitt / Richard Bootle /
Detlir Elezi
|
Tel: +44
(0)20 3207 7800
|
|
Buchanan Communications
|
Tel: +44
(0) 20 7466 5000
|
|
Henry Harrison-Topham / Steph
Whitmore / Abby Gilchrist
|
LGT@buchanan.uk.com
|
Notes to editors:
Lords is a specialist distributor of
building, plumbing, heating and DIY goods. The Group
principally sells to local tradesmen, small to medium sized
plumbing and heating merchants, construction companies and retails
directly to the general public.
The Group operates through the
following two divisions:
· Merchanting: supplies building
materials and DIY goods through its network of merchant businesses
and online platform capabilities. It operates both in the
'light side' (building materials and timber) and 'heavy side'
(civils and landscaping), through 31 locations in the
UK.
· Plumbing
and Heating: a specialist distributor in the UK of
plumbing and heating products to a UK network of independent
merchants, installers and the general public. The division
offers its customers an attractive proposition through a
multi-channel offering. The division operates over 17
locations enabling nationwide next day delivery service.
Lords was established over 35 years
ago as a family business with its first retail unit in Gerrards
Cross, Buckinghamshire. Since then, the Group has grown to a
business operating from 48 sites. Lords aims to become a £500
million turnover building materials distributor group by 2024 as it
grows its national presence.
Lords was admitted to trading on AIM
in July 2021 with the ticker LORD.L. For additional
information please visit www.lordsgrouptradingplc.co.uk.