Flowgroup plc Statement re share price movement (1083M)
25 4월 2018 - 9:31PM
UK Regulatory
TIDMFLOW
RNS Number : 1083M
Flowgroup plc
25 April 2018
Flowgroup plc
("Flow" or the "Company")
Statement re share price movement
The Company notes today's rise in the share price. Whilst the
Board does not wish to speculate on the reasons for such price
rise, it wishes to confirm that today's announcement regarding the
conversion of certain convertible loan notes into preference shares
should not be taken as any indication that the Board has revised
its opinion that the outcome for ordinary shareholders is expected
to be a zero return. The Board confirms that there has been no
change to the rights attaching to each of the loan notes and the
class of shares into which they have been converted In particular,
preference shares continue to rank ahead of ordinary shares on a
winding up of the Company.
The Board also confirms that, in accordance with its duties to
have regard to the interests of all stakeholders including
creditors, it continues to develop contingency plans (mindful of
the need to protect the interests of customers) should shareholders
fail to approve the proposal described in its announcement of 10
April 2018 and review its strategic options, and in particular to
develop alternative proposals, but does not expect any outcome to
result in a positive return to shareholders.
Enquiries:
Flowgroup plc
Alan Lovell, Chairman
Nigel Canham, Chief Financial Officer
Cenkos Securities plc (Nominated adviser +44 (0)20 3817
and broker) 3637
Stephen Keys / Mark Connelly / Callum +44 (0)20 7397
Davidson (Corporate Finance) 8900
Walbrook PR Ltd (Financial PR advisers) +44 (0)20 7933
Paul McManus / Nick Rome 8780
This information is provided by RNS
The company news service from the London Stock Exchange
END
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April 25, 2018 08:31 ET (12:31 GMT)
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