Flowtech Fluidpower PLC (LON:FLO), the specialist technical fluid power products supplier, is pleased to announce that at the General Meeting held earlier today to approve, inter alia, the Placing to raise £10 million, announced on 10 March 2017, all resolutions were duly passed.
Application has been made for the 8,333,333 Placing Shares described in the circular dated 13 March 2017 to be admitted to trading on AIM at 8.00 a.m. on 30 March 2017 (“Admission”).
Once Admission occurs, the Placing will have successfully completed.
Malcolm Diamond, MBE, Non-Executive Chairman, said: We have a clear view of our objectives, to create a specialist fluid power organisation focussed on its core competencies, and we have a number of opportunities that will deliver this goal.”
“The Company has been delighted to get the support from both new and existing shareholders for the Placing; we believe this supports the understanding of our business model and the future opportunities to grow the business both via acquisition and organically.
Flowtech will update the market further on 4 April 2017 when it releases its 2016 Annual Results.
Total Voting Rights
Following Admission, the total number of ordinary shares and voting rights in the Company will be 51,411,615. The Company does not hold any shares in treasury.
The above figure may be used by shareholders in the Company 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 FCA’s Disclosure and Transparency Rules.
Capitalised terms used and not defined in this announcement have the meanings given to them in the Circular relating to the Placing dated 13 March 2017.
