Flow Traders N.V. — Share Issue/Capital Change 2018

Apr 25, 2018

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

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 and broker) Stephen Keys / Mark Connelly / Callum Davidson (Corporate Finance) Walbrook PR Ltd (Financial PR advisers) Paul McManus / Nick Rome	+44 (0)20 3817 3637  +44 (0)20 7397 8900 +44 (0)20 7933 8780

This information is provided by RNS

The company news service from the London Stock Exchange

END

STRBDGDSGXDBGIU