Wilmcote : Open Offer Results

% interest in the Enlarged Share Capital

95.36%

RNS Number : 5922W

Wilmcote Holdings PLC

12 December 2019

This announcement contains inside information.

This announcement is not for release, publica on or distribu on, directly or indirectly, in or into the United States, any Member State of the European Economic Area (other than the United Kingdom), Australia, Canada, Japan, South Africa or New Zealand or any jurisdic on where to do so might cons tute a viola on of local securi es laws or regulations.

12 December 2019

Wilmcote Holdings plc (the "Company")

Result of Open Offer

On 25 November 2019 the Company announced details of an Open Offer to raise up to £6.5 million through the issue of up to 650,000,000 New Ordinary Shares, each at an issue price of £0.01 per New Ordinary Share, as described in the Company circular dated 25 November 2019 (the "Circular").

The Open Offer closed for acceptances at 11.00 a.m. on 11 December 2019. The Company is pleased to announce that it has received valid acceptances in respect of 650,000,000 Open Offer Shares from Qualifying Shareholders, including applica ons under the Excess Applica on Facility. This represents 100 per cent. of the Open Offer Shares offered. The Company has therefore raised gross proceeds of £6.5 million pursuant to the Open Offer.

Taking into account acceptances under the Open Offer from shareholders other than the Marwyn Shareholders, following the subscrip on by the Marwyn Shareholders for New Ordinary Shares (in respect of their Open Offer En tlements and further subscrip ons for Excess Shares pursuant to the Excess Applica on Facility), the aggregate interests in the Ordinary Shares on Admission which will be controlled by MAML will be as set out in the table below:

Number of Ordinary Shares held

639,685,278

The Open Offer remains condi onal upon the approval by Shareholders of certain resolu ons to be proposed at the Annual General Meeting of the Company to be held at 11.00 a.m. on 12 December 2019.

Applica on has made for the New Ordinary Shares to be admi ed to trading on AIM ("Admission"), and it is expected that Admission will become effec ve and that dealings will commence in the New Ordinary Shares at 8.00 a.m. on 13 December 2019.

The New Ordinary Shares, when issued and fully paid, will rankpari passu in all respects with the Exis ng Ordinary Shares and therefore rank equally for all dividends or other distribu ons declared, made or paid a er the date of issue of the New Ordinary Shares.

The New Ordinary Shares (in uncer ficated form) are expected to be credited to CREST accounts on 13 December 2019 and defini ve share cer ficates for the New Ordinary Shares (in cer ficated form) are expected to be despatched to certificated shareholders by 20 December 2019.

Following Admission, the total number of vo ng shares in issue will be 670,833,336. This figure may be used by shareholders as the denominator for the calcula ons by which they determine if they are required to no fy their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.

All defined terms in this announcement shall have the meanings ascribed to them in the Circular.

James Corsellis is Chairman of Wilmcote Holdings plc, which has its offices at 11 Buckingham Street, London, WC2N 6DF and has the LEI number 2138004EUUU11OVHZW75.

Enquiries:

Wilmcote

Tel: [phone]

Mark Brangstrup Watts

James Corsellis

Numis Securities Limited

Tel: [phone]

Kevin Cruickshank

Jamie Loughborough

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