Wilmcote Holdings PLC Statement regarding potential acquisition (5498P)
11 Octubre 2019 - 1:00AM
UK Regulatory
TIDMWCH
RNS Number : 5498P
Wilmcote Holdings PLC
11 October 2019
11 October 2019
This announcement contains inside information
Wilmcote Holdings plc
Statement regarding potential acquisition
Wilmcote Holdings plc ('Wilmcote' or the 'Company') announces
that, further to its recent statements regarding a potential
acquisition of Arclin Inc. ('Arclin'), the Company and Arclin have
mutually agreed to conclude negotiations and, as such, discussions
have ceased.
In line with the Company's mandate to pursue acquisition
opportunities, Wilmcote has incurred material third party expenses
in connection with this opportunity. The Company estimates it will
have approximately GBP0.9 million in residual cash reserves
following the settlement of negotiated transaction-related
expenses, including associated VAT refunds.
Wilmcote intends to hold discussions with shareholders regarding
the potential further capitalisation of the Company to fund future
operating expenses and due diligence to continue to pursue
acquisition opportunities in the specialty chemicals sector. A
further announcement will be made following the conclusion of these
discussions.
Wilmcote's ordinary shares will recommence trading with
immediate effect.
-ENDS-
Teneo (Financial PR)
Tel: +44 (0) 7703 330 269
Charles Armitstead
Numis Securities Limited (Nominated Adviser and Broker)
Tel: +44 (0) 20 7260 1000
Kevin Cruickshank
Jamie Loughborough
Adrian Whitfield is Chief Executive Officer of Wilmcote Holdings
plc, which has its offices at 11 Buckingham Street, London, WC2N
6DF and has the LEI number 2138004EUUU11OVHZW75.
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END
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October 11, 2019 02:00 ET (06:00 GMT)
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