Corporate News

Director Dealings and Holdings in Company

The Board announces that on 3 November 2015, the following transactions were undertaken by Dick Hunter and David Cowen (Chief Executive and Group Finance Director respectively) in the Company’s Ordinary Shares of 25 pence each (“Ordinary Shares”):

 

  • Mr Hunter exercised in full a conditional grant over Ordinary Shares awarded on 28 February 2012 under the Molins PLC Deferred Share Plan (“the Plan”).  Upon exercise, the Molins PLC Employee Trust (“the Trust”) transferred 69,600 Ordinary Shares to Mr Hunter, which were then sold by Mr Hunter in the open market.  Mr Hunter’s beneficial interest following this transaction remains in 75,000 Ordinary Shares, representing 0.4% of the Company’s issued share capital.

 

  • Mr Cowen exercised in full a conditional grant over Ordinary Shares awarded on 28 February 2012 under the Plan.  Upon exercise, the Trust transferred 61,600 Ordinary Shares to Mr Cowen, which were then sold by Mr Cowen back to the Trust.  Mr Cowen’s beneficial interest following this transaction remains in 100,219 Ordinary Shares, representing 0.5% of the Company’s issued share capital.

 

All transactions were completed at a price of 75 pence per Ordinary Share.  

For further information, please contact:

 

Molins PLC Tel: +44(0)1908 246870
David Cowen, Group Finance Director  
   
Panmure Gordon (UK) Limited (NOMAD) Tel: +44(0)20 7886 2500

Hugh Morgan – Corporate Finance

Peter Steel – Corporate Finance

 
Tom Salvesen – Corporate Broking  
   
KTZ Communications Tel: +44(0)20 3178 6378
Katie Tzouliadis  

Director Dealings and Holdings in Company

The Board announces that on 17 June 2015, the following transactions were undertaken by Dick Hunter and David Cowen (Chief Executive and Group Finance Director respectively) in the Company’s Ordinary Shares of 25 pence each (“Ordinary Shares”):

 

  • Mr Hunter exercised in full a conditional grant over Ordinary Shares awarded on 1 March 2011 under the Molins PLC Deferred Share Plan (“the Plan”).  Upon exercise, the Molins PLC Employee Trust (“the Trust”) transferred 92,200 Ordinary Shares to Mr Hunter, which were then sold by Mr Hunter back to the Trust.  Mr Hunter’s beneficial interest following this transaction remains in 75,000 Ordinary Shares, representing 0.4% of the Company’s issued share capital.

 

  • Mr Cowen exercised in full a conditional grant over Ordinary Shares awarded on 1 March 2011 under the Plan.  Upon exercise, the Trust transferred 81,600 Ordinary Shares to Mr Cowen, which were then sold by Mr Cowen in the open market.  Mr Cowen’s beneficial interest following this transaction remains in 100,219 Ordinary Shares, representing 0.5% of the Company’s issued share capital. 

All transactions were completed at a price of 83 pence per Ordinary Share.  The Trust’s resultant beneficial interest following these transactions is in 574,416 Ordinary Shares, representing less than 3% of the Company’s issued share capital.

 

For further information, please contact:

 

Molins PLC Tel: +44(0)1908 246870
David Cowen, Group Finance Director  
   
Panmure Gordon (UK) Limited (NOMAD) Tel: +44(0)20 7886 2500

Hugh Morgan – Corporate Finance

Peter Steel – Corporate Finance

 
Tom Salvesen – Corporate Broking  
   
KTZ Communications Tel: +44(0)20 3178 6378
Katie Tzouliadis  

Holding(s) in Company 10 Jun 15

Notification of major interest in shares 10 June 2015

Completion of Strategic Review of Analytical Services Laboratory Operation

Molins, the international engineering and services company, announces that it is has entered into an agreement with Enthalpy Analytical, Inc (‘Enthalpy’), an affiliate of Montrose Environmental Group, Inc, for the sale of the trade and certain assets of its US based analytical services laboratory operation Arista Laboratories, Inc (“Arista”), for a consideration of $0.5m (£0.3m), which was paid in cash on completion.  The sale represents the conclusion of the Company’s strategic review of this operation which commenced in February 2015 as previously reported.

 

In the year ended 31 December 2014 Arista generated revenues of £2.5m and incurred operating losses of £2.0m. The book value of its assets at 31 December 2014 was £2.8m.  Enthalpy has assumed the obligations of the property lease of the premises from which Arista operates, the costs of which will be subsidised by the Group for a period of 18 months from completion, at a total cost of £0.4m payable in monthly amounts.  The Group expects to incur a loss on this disposal of approximately £3.5m, of which £0.3m will be net cash payments, plus a £1.3m goodwill write-off.  

 

As previously reported, trading in the rest of the Scientific Services division is more challenging than expected, with tobacco sector conditions remaining difficult.  The Packaging Machinery division, however, continues to trade ahead of last year and with Arista being treated as a discontinued operation in 2015, the Board expects the underlying trading performance of the Group for the year to be slightly ahead of current expectations.

 

Enquiries:

Molins PLC 

Tel: +44 (0)1908 246870 

Dick Hunter, Chief Executive  

David Cowen, Group Finance Director

 

Panmure Gordon (UK) Limited (NOMAD)

Tel: +44 (0)20 7886 2500

Hugh Morgan / Peter Steel – Corporate Finance

Tom Salvesen – Corporate Broking

 

KTZ Communications

Tel: +44 (0)20 3178 6378

Katie Tzouliadis