08/16/2018 | Press release | Distributed by Public on 08/16/2018 04:17
16 August 2018
On the Beach Group plc
('On the Beach', 'OTB' or the 'Group')
Application for listing
On The Beach Group plc ('OTB' or the 'Company') announces that an application has been made for 607,747 of its ordinary shares of 1 penny each to be admitted to the premium listing segment of the Official List of the Financial Conduct Authority and to be admitted to trading on the main market for listed securities of The London Stock Exchange plc (together 'Admission'). Such ordinary shares shall, when issued, rank pari passu with the existing issued ordinary shares of OTB. It is expected that Admission will take place at 8:00 a.m. on 21 August 2018.
The shares are being issued in connection with the acquisition of Classic Collection Holidays Limited as announced on 16 August 2018. In order to effect the issue of shares, the Company intends to use the authorities granted to it at its Annual General Meeting held on 8 February 2018 which enable it to issue up to 5% of its issued share capital on a non pre-emptive basis in connection with financing a transaction which the Board of the Company determines to be an acquisition or specified capital investment, as contemplated by the Statement of Principles published by the Pre-Emption Group.
Following Admission, the total number of shares of the Company in issue will be 131,042,510. OTB currently holds no shares as treasury shares and therefore, following Admission, the total number of voting shares in the Company will be 131,042,510.
The total voting rights figure of 131,042,510 ordinary shares may be used by shareholders and others with notification obligations as the denominator for the calculations by which they will determine whether they are required to notify their interest in, or a change to their interest in, OTB under the FCA's Disclosure Guidance and Transparency Rules.
This announcement is made in accordance with Listing Rule 3.2.
For further information:
On the Beach Group plc
Simon Cooper, Chief Executive Officer
Paul Meehan, Chief Financial Officer
c/o FTI Consulting
Tel: +44 (0)20 3727 1000
About On the Beach
With over 20% share of online sales in the short haul beach holiday market, we are one of the UK'slargest online beach holiday retailers. We have significant opportunities for growth and a long-term mission to become Europe'sleading online retailer of beach holidays. By using our innovative technology, low-cost base and strong customer-value proposition to provide a structural challenge to legacy tour operators and travel agents, we continue our journey to disrupt the online retail of beach holidays. Our model is customer-centric, asset light, profitable and cash generative.www.onthebeachgroupplc.com