Friday, 30 May 2014
Trifast PLC
("Trifast" or the "Company")
Result of General Meeting re: €27 million acquisition of Viterie Italia Centrale Srl ("VIC")
and
Notice of Results
Result of General Meeting
The Board of Trifast is pleased to announce that at the General Meeting of the Company held today at 10.00 a.m. the proposed resolution as set out in the Circular dated 7 May 2014 has been approved by shareholders. As a result, 3,000,000 new ordinary shares in the Company of 5p each ("the Consideration Shares"), have been issued and allotted to the vendors of VIC at a theoretical issue price of €0.95 (approximately 79 pence). Application has been made for the Consideration Shares to be admitted to the Official List and trading is expected to commence on the Premium listing segment of the Main Market of the London Stock Exchange at 08.00 on Monday, 2 June 2014 ("Admission").
Upon Admission of the Consideration Shares the Total Voting Rights of the Company will be 111,704,406. This figure may be used by shareholders 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 Company, under the FCA's disclosure and Transparency Rules.
A copy of the Circular can be found at www.morningstar.co.uk/uk/nsm. The proxy votes will be available to view on the Company website shortly.
Malcolm Diamond, MBE, Executive Chairman, Trifast plc:
"On behalf of the Board, all shareholders and colleagues, we are delighted to add this very successful business to the Trifast portfolio. VIC has a young, experienced and motivated management team, led by Carlo Perini. Their focus and continued improvement on customisation has allowed the business not only to keep up with output markets' technological development, but also to often act as an innovator, reinforcing its competitive positioning."
"VIC is also complementary to the Group's business model and significantly strengthens our presence in the domestic appliance market whilst also offering TR additional opportunities in existing electronic and automotive tier 1 markets."
"We welcome Carlo Perini and his team into the business; we look forward to working with them and building further on TR's position within the European market and utilising their technical skills within our Asian and US presence too."
Notice of Results
Trifast will announce annual results for the year ended 31 March 2014 on Tuesday, 17 June 2014. A presentation will be held at the offices of Arden Partners plc. Further details maybe requested by contacting the Company or Fiona Tooley at TooleyStreet Communications, details shown below.
Enquiries: |
Trifast plc |
TooleyStreet Communications Ltd |
Arden Partners plc |
Malcolm Diamond MBE, Executive Chairman Jim Barker, Chief Executive Mark Belton, Group Finance Director Telephone: +44 (0) 1825 747366 |
IR, Corporate & Media Relations Fiona Tooley Mobile: +44 (0) 7785 703523 Telephone: +44(0) 121 309 0099 Email: corporate [email protected] |
Stockbrokers to the Company Adrian Trimmings Katelin Kennish Telephone: +44 (0) 20 7614 5900 |
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Market capitalisation: £127m |
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LSE Listing: Ticker: TRI FTSE index sector: FTSE Fledgling - Industrial Engineering |
Group website: www.trifast.com |
Trifast's trading business TR Fastenings is a leading international manufacturer and distributor of industrial fastenings to the assembly industries, with operations in Europe, the Americas and Asia. For more information, please visit www.trfastenings.com: LinkedIn: www.linkedin.com/company/tr-fastenings: Facebook: www.facebook.com/trfastenings: Twitter: www.twitter.com/trfastenings |
