ScS Group PLC Purchase of Own Shares (3915S)
06 Novembre 2019 - 8:15AM
UK Regulatory
TIDMSCS
RNS Number : 3915S
ScS Group PLC
06 November 2019
6 November 2019
ScS Group plc
("ScS", or the "Company")
Purchase of Own Shares
ScS, one of the UK's largest retailers of upholstered furniture
and floorings, announces that further to its announcement on 5
November 2019, it confirms that it has agreed to participate in the
l sell-down of existing ordinary shares of 0.1 pence each in the
Company ("Ordinary Shares") (the "Placing") by Parlour Product
Holdings (LUX) S.A.R.L (the "Seller"). The Seller is a related
party of the Company under Chapter 11 of the Listing Rules.
ScS has (via Shore Capital Stockbrokers Limited) agreed to
acquire 1,996,454 Ordinary Shares in the Placing at a price of 220
pence per shares resulting in total consideration by the Company of
GBP4,392,198.80 (the "Transaction"). It is anticipated that the
Transaction will complete on 8 November 2019. The Transaction was
carried out within the parameters of the Company's buyback
authority approved at the Company's Annual General Meeting on 21
November 2018.
The Ordinary Shares purchased by the Company will be cancelled.
Following the cancellation, the Company's issued share capital will
consist of 38,012,655 Ordinary Shares, each with one voting right.
The total number of voting rights will therefore be 38,012,655.
The Transaction falls within Listing Rule 11.1.10R (smaller
related party transactions) and this announcement is made in
accordance with Listing Rule 11.1.10R(c).
Enquiries:
ScS Group PLC c/o Buchanan +44 (0)20 7466
David Knight, Chief Executive Officer 5000
Chris Muir, Chief Financial Officer
Buchanan Tel: +44 (0)20 7466 5000
Richard Oldworth scs@buchanan.uk.com
Tilly Abraham
Shore Capital Tel: +44 (0)207 408 4050
Patrick Castle
James Thomas
Sarah Mather
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END
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