Wilmcote Holdings PLC Directorate Change (4624Q)
21 Octubre 2019 - 1:00AM
UK Regulatory
TIDMWCH
RNS Number : 4624Q
Wilmcote Holdings PLC
21 October 2019
21 October 2019
This announcement contains inside information
Wilmcote Holdings plc
Directorate change
Wilmcote Holdings plc ('Wilmcote' or the 'Company') announces
that further to the recent decision to conclude negotiations with
Arclin Inc., it has been mutually agreed that Adrian Whitfield
(CEO), Kevin Dangerfield (CFO) and John McAdam (Non-Executive
Director) will step down from the Board and leave the Company with
immediate effect.
The Board would like to thank Adrian, Kevin and John for
bringing a number of exciting investment opportunities to Wilmcote
and wish them well in their future endeavours.
The Board acknowledge that these changes will affect the
Company's adherence to the QCA Code and will continue to consider
the appropriate corporate governance arrangements for the Company,
subject to its circumstances.
The Board continue to hold discussions with shareholders
regarding the future of the Company and will release a further
announcement in due course.
-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
James Corsellis is Chairman of Wilmcote Holdings plc, which has
its offices at 11 Buckingham Street, London, WC2N 6DF and has the
LEI number 2138004EUUU11OVHZW75.
Notes to Editors
On 11 October 2019, the Company released the following
announcement.
"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."
This information is provided by RNS, the news service of the
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Kingdom. Terms and conditions relating to the use and distribution
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END
BOABIBDGUDDBGCG
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October 21, 2019 02:00 ET (06:00 GMT)
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