Results of Tender Offer and Total Voting Rights

Source: RNS
RNS Number : 9068C
Strix Group PLC
05 May 2026
 

5 May 2026

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

 

Strix Group plc

 

("Strix", the "Group" or the "Company")

 

Results of Tender Offer and Total Voting Rights

 

Strix Group plc (AIM:KETL), the global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration, is pleased to announce the results of the Tender Offer, details of which were set out in the Circular published by the Company on 9 April 2026.

Tender Offer

The maximum aggregate number of Ordinary Shares that could be purchased pursuant to the Tender Offer was 23,255,813 Ordinary Shares, representing approximately 10.1 per cent. of the Company's issued share capital as at the Tender Offer Record Date, at a Tender Price of 43 pence per Ordinary Share.

Under the Tender Offer, valid applications to tender shares were received in respect of 55,858,780 Ordinary Shares, equal to approximately 25.2 per cent. of the total number of Ordinary Shares in issue as at the Tender Offer Record Date. Accordingly, all valid tenders of Shareholders' Basic Entitlements have been accepted and will be purchased in full. Additionally, in accordance with the terms and conditions of the Tender Offer as set out in the Circular, all excess tenders have been scaled back on a pro rata basis among those Shareholders who tendered Ordinary Shares in excess of their Basic Entitlement, such that the total cost of Ordinary Shares purchased pursuant to the Tender Offer does not exceed £10 million. As such, a total of 23,255,813 Ordinary Shares will be purchased under the Tender Offer.

The total value to be returned to Shareholders pursuant to the Tender Offer will therefore be approximately £10 million.

Payment of the consideration due to Shareholders whose tender applications under the Tender Offer have been accepted will be despatched (by cheque or by a CREST payment, as appropriate) on or before 14 May 2026. It is also anticipated that balancing share certificates in respect of unsold certificated Ordinary Shares will be despatched by no later than 14 May 2026.

The Company has been notified that Ordinary Shares in which director, Mark Kirkland, has a beneficial interest in which are held in a non-discretionary trust, have been tendered pursuant to the Tender Offer. A separate PDMR dealing announcement will be made in due course.

Total Voting Rights

Following the Tender Offer and the transfer of 23,255,813 tendered Ordinary Shares into treasury, the issued share capital of the Company remains unchanged at 229,927,550 and the Company now holds 31,613,230 shares in treasury. The total voting rights in the Company is now 198,314,320 which may be used by shareholders 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, Strix under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms used in this announcement (unless otherwise defined) have the meanings set out in the Circular published by the Company on 9 April 2026 in respect of the Tender Offer.

 

For further enquiries, please contact:

Strix Group Plc

+44 (0) 1624 829829

Gary Lamb, Chairman

Mark Bartlett, CEO

Clare Foster, CFO

 

 



Zeus (Nominated Advisor and Joint Broker)

+44 (0) 20 3829 5000 

Jordan Warburton / Louisa Waddell (Investment Banking)

Dominic King (Corporate Broking)

 




Stifel Nicolaus Europe Limited (Joint Broker)

+44 (0) 20 7710 7600

Matthew Blawat / Francis North

 



Gracechurch Group (Financial PR and IR)

+44 (0) 204 582 3500

Heather Armstrong / Claire Norbury



 

Information on Strix

Founded in 1982, Isle of Man based Strix is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.

 

Strix has built up market leading capability and know-how, expanding into complementary products and technologies. The Group's brands include Aqua Optima and LAICA providing our customers with market leading water solutions on a global basis.

 

Strix is quoted on the AIM Market of the London Stock Exchange (AIM: KETL).

 

The information contained within this announcement is considered by Strix to constitute inside information as stipulated under the Market Abuse Regulation (EU) No.596/2014 (as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018). On the publication of this announcement via a Regulatory Information Service, such information is now considered to be in the public domain.

 

The person responsible for arranging release of this announcement on behalf of the Company is Mark Bartlett, Chief Executive Officer.

 

 

IMPORTANT NOTICE

The offer period for the Tender Offer has now expired. No further tenders of any Ordinary Shares may be made pursuant to the Tender Offer.

Stifel and Zeus, each of which is authorised and regulated in the United Kingdom by the Financial Conduct Authority, are acting exclusively for the Company and for no one else in connection with the Tender Offer and will not regard any other person (whether or not a recipient of this Announcement) as a client in relation to the Tender Offer or any other matter referred to in this Announcement, and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients nor for providing advice in relation to the Tender Offer, or any other matter referred to in this Announcement. The responsibilities of Zeus as the Company's nominated adviser under the AIM Rules for Companies and the AIM Rules for Nominated Advisers are owed solely to the London Stock Exchange and are not owed to the Company or any director, shareholder or any other person.

This Announcement is being issued by and is the sole responsibility of the Company. No representation or warranty, express or implied, is or will be made as to, or in relation to, and no responsibility or liability is or will be accepted by or on behalf of Stifel or Zeus or any of their respective Affiliates as to, or in relation to, the accuracy, adequacy or completeness of this Announcement or any other written or oral information made available to or publicly available to any interested party or its advisers, and any liability therefor is expressly disclaimed.

 

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