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Adams PLC - Disposal

RNS Number : 1342X
Adams PLC
17 December 2019
 

Adams plc

("Adams" or the "Company")

Disposal

 

The Directors announce that, on 16 December 2019, Adams sold the whole of its remaining holding of 275,643 ordinary shares of US$0.02 each in Petrofac Limited on the Main Market of the London Stock Exchange at a price of £4.01 per share for a total cash consideration of £1,104,656. Following this disposal, the Company will have cash balances of approximately £1,600,000.  The Directors intend to reinvest the proceeds of the disposal in accordance with the Company's Investing Policy.

Certain information contained in this announcement would have been deemed inside information for the purposes of Article 7 of Regulation (EU) No 596/2014 until the release of this announcement.

Enquiries:

 

Adams plc


Mike Bretherton

Tel: +44 1534 719 761



Nomad


Cairn Financial Advisers LLP


Sandy Jamieson, James Caithie

Tel:  +44 207 213 0880



Broker


Peterhouse Corporate Finance Limited


Lucy Williams, Duncan Vasey

Tel:  +44 207 469 0930

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: Adams PLC

Price: 11.5

Market: AIM
Market Cap: £9.49 m
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