Schedule One - Likewise Group plc | RNS | Ticker

Schedule One - Likewise Group plc

RNS Announcement

RNS Number : 8999G

AIM

29 July 2021

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Likewise Group plc

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):

Likewise Group plc

Unit 4 Radial Park

Solihull Parkway

Birmingham Business Park

Solihull

B37 7YN

COUNTRY OF INCORPORATION:

England and Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.likewiseplc.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

Likewise Group plc ("Likewise" or the "Company") is a UK distributor of both domestic and commercial floorcoverings and matting. It is challenging the established competitors in the industry by providing access to a wide choice of flooring from multiple manufacturers across the globe at competitive prices for its customers. The Directors believe they have an opportunity to build a business of national scale and over time become a strong alternative to the current larger industry competitors within the sector.

Likewise is currently listed on The International Stock Exchange ("TISE") with a market capitalisation of c.£40 million. The Company's proposed delisting from TISE and admission to AIM will be subject to shareholder approval.

Likewise operates from a national distribution hub in Morley, supported by two national distribution centres in Sudbury and Birmingham, a regional distribution centre in Manchester and three smaller logistics centres in Glasgow, Newcastle and Peckham, as well as the operations of H&V BVBA in Belgium.

Likewise has a global supplier base, across both contract and residential, with 79 suppliers in 19 countries.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

192,374,194 ordinary shares of 1p each ("Ordinary Shares") comprising:

- 152,374,194 existing Ordinary Shares

- 40,000,000 new Ordinary Shares to be issued at 25p per share pursuant to the placing

Ticker: LIKE

ISIN number: GB00BHNWH003

SEDOL number: BHNWH00

No shares to be held in treasury

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised: £10.0 million for the Company

Anticipated market capitalisation on admission to AIM: approximately £48.1 million (based on the placing price)

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

47.3%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

N/A

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Directors:

Paramjit (Paul) Singh Bassi CBE (Independent Non-Executive Chairman)

Anthony (Tony) John Brewer (Chief Executive Officer)

Roy Povey FCCA (Chief Financial Officer)

Andrew James William Simpson (Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

	Before Admission		Following Admission
	Shares held	%	Shares held	%
Anthony (Tony) John Brewer	28,932,500	19.0%	29,332,500	15.2%
Andrew James William Simpson	19,000,000	12.5%	19,400,000	10.1%
Adrian Marcus Laffey	6,442,500	4.2%	6,642,500	3.5%
Paul James Wiseman	5,950,000	3.9%	5,950,000	3.1%
Andrew James Woodhouse	5,834,100	3.8%	5,834,100	3.0%
Keith Robert Yates	5,375,000	3.5%	5,375,000	2.8%
Jane Suzanne Powell	5,300,000	3.5%	5,300,000	2.8%
James Andrew Kellett	4,750,000	3.1%	5,150,000	2.7%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

Keelo Consulting Limited

Yamnuska Limited

Anthesis UK Limited

Albert E Sharp LLP

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i) 31 December

(ii) 31 December 2020

(iii) 30 September 2021 (unaudited interims for the six months ended 30 June 2021)

30 June 2022 (audited accounts for the year ending 31 December 2021)

30 September 2022 (unaudited interims for the six months ending 30 June 2022)

EXPECTED ADMISSION DATE:

18 August 2021

NAME AND ADDRESS OF NOMINATED ADVISER:

Zeus Capital Ltd

82 King Street

Manchester

M2 4WQ

10 Old Burlington Street

London

W1S 3AG

NAME AND ADDRESS OF BROKER:

Zeus Capital Ltd

10 Old Burlington Street

London

W1S 3AG

Ravenscroft Consultancy & Listing Services Limited

PO Box 222

20, New Street

St Peter Port

Guernsey

GY1 4JG

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

www.likewiseplc.com

This website will contain details about the Company and the admission of its shares to trading on AIM.

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

QCA Corporate Governance Code

DATE OF NOTIFICATION:

29 July 2021

NEW/ UPDATE:

NEW

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END

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RNS metadata

Title: Schedule One - Likewise Group plc
Time: 10:00:02
Date: 29 Jul 2021
Category: Capital structure
ID: 8999G