22 January 2025
Billington Holdings
plc
("Billington", the "Group" or the "Company")
Issue of Equity to Employee
Share Ownership Trust
Billington announces the issue of
400,000 ordinary shares of 10 pence each ("New Ordinary Shares") to
satisfy the future vesting of existing employee share awards, to
senior management, under the Group's Long Term Incentive Plan, and
to enable future awards under the Group's Deferred Bonus
Plan.
The New Ordinary Shares will be
issued, on Admission, to Ocorian Trustees (Jersey) Limited in its
capacity as trustee of the Billington Holdings plc Employee Share
Ownership Trust ("ESOT") at a price of 10 pence each, being the
nominal value, pursuant to a subscription agreement entered into on
21 January 2025. The Group operates an ESOT to allow employees to
share in the future continued success of the Group, promote
productivity and provide further incentives to recruit and retain
employees. The ESOT is a separately administered trust and the
assets of the ESOT comprise Ordinary Shares in the Company and
cash. The ESOT is included in the consolidated financial statements
of the Group as the Group exercises control over the ESOT in
accordance with the terms of a trust deed. When calculating
statutory basic earnings per share, Ordinary Shares held by the
ESOT are treated as if they were cancelled. Dividends are waived by
the ESOT on Ordinary Shares whilst they are held by the ESOT.
Following the issue of the New Ordinary Shares, the ESOT will hold
in total 681,191 Ordinary Shares representing approximately 5 per
cent. of the Company's enlarged issued share capital.
Admission and Total Voting Rights
Application has been made for the
New Ordinary Shares to be admitted to trading on AIM, which is
expected to occur on or around 8.00 a.m. on 27 January 2025
("Admission"). The New Ordinary Shares will rank pari passu in all
respects with the Company's existing ordinary shares of 10 pence
each ("Ordinary Shares") currently admitted to trading on
AIM.
Following Admission, the total
issued share capital of the Company will be 13,334,327 (13,260,959
Ordinary Shares and 73,368 A Ordinary Shares, with both classes of
Ordinary Share ranking pari passu in all respects) and with no
Ordinary Shares held in treasury. This figure of 13,334,327 may be
used by shareholders as the denominator for the calculation by
which they will determine if they are required to notify their
interest in, or a change to their interest in the Company, under
the Disclosure Guidance and Transparency Rules of the
FCA.
For
further information please contact:
|
Billington Holdings plc
Mark Smith, Chief Executive
Officer
Trevor Taylor, Chief Financial
Officer
|
Tel: 01226 340 666
|
|
Cavendish Capital Markets Ltd - Nomad and
Broker
Ed Frisby / Trisyia Jamaludin -
Corporate Finance
Andrew Burdis - ECM
|
Tel: 020 7220 0500
|
|
IFC
Advisory Limited
Tim Metcalfe
Graham Herring
Zach Cohen
|
Tel: 020 3934 6630
billington@investor-focus.co.uk
|
About Billington Holdings plc
Billington Holdings plc (AIM: BILN),
one of the UK's leading structural steel and construction safety
solutions specialists, is a UK based Group of companies focused on
structural steel and engineering activities throughout the UK and
European markets. Group companies pride themselves on the provision
of high technical and professional standards of service to niche
markets with emphasis on building strong, trusted and long-standing
partnerships with all of our clients. https://billington-holdings.plc.uk/
