01 March 2024
Kitwave Group plc
("Kitwave", the "Group" or the "Company")
Exercise of Warrants & Total Voting Rights
Kitwave Group plc (AIM: KITW), the delivered wholesale business, today announces that it has allotted and issued 111,000 ordinary shares of 1 pence each in the Company ("Ordinary Shares") pursuant to an exercise of warrants. The Company has made an application for the 111,000 Ordinary Shares to be admitted to trading on AIM ("Admission"). Admission is expected to become effective on 7 March 2024. Further detail on the warrants is set out on page 132 of the Company's AIM Admission document, which is available for download on its website.
Following Admission, the Company will have 70,111,111 Ordinary Shares in issue, each with voting rights, which figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules. The Company does not hold any Ordinary Shares in Treasury.
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For further information please contact:
| Kitwave Group plc Paul Young, Chief Executive Officer David Brind, Chief Financial Officer | Tel: +44 (0) 191 259 2277 |
| Canaccord Genuity Limited Bobbie Hilliam Alex Orr | Tel: +44 (0) 20 7523 8150 |
| Yellow Jersey PR Sarah Hollins Shivantha Thambirajah Bessie Elliot | Tel: +44 (0) 20 3004 9512 |
Company Overview
Founded in 1987, following the acquisition of a single-site confectionery wholesale business based in North Shields, United Kingdom, Kitwave is a delivered wholesale business, specialising in selling and delivering impulse products, frozen, chilled and fresh foods, alcohol, groceries and tobacco to approximately 42,000, mainly independent, customers.
With a network of 30 depots, Kitwave is able to support delivery throughout the UK to a diverse customer base, which includes independent convenience retailers, leisure outlets, vending machine operators, foodservice providers and other wholesalers, as well as leading national retailers.
The Group's growth to date has been achieved both organically and through a strategy of acquiring smaller, predominantly family-owned, complementary businesses in the fragmented UK grocery and foodservice wholesale market.
Kitwave Group plc (AIM: KITW) was admitted to trading on AIM of the London Stock Exchange on 24 May 2021.
For further information, please visit: www.kitwave.co.uk.
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