Regulatory News

Lords, a leading distributor of building materials in the UK, announces that under the Lords Group Share Incentive Plan (“SIP”) it has issued 2,105 new ordinary shares of 0.5 each in the capital of the Company (“Ordinary Shares”) to each of 485 employees of the Group (“SIP Shares”) holding a minimum six months continuous service with the Group as at the date of the Company’s admission to trading on AIM.  The SIP Shares have been issued as part of the Group’s incentive arrangements stated at the time of admission to trading on AIM, in line with the recognition of the Lords Board of the ongoing efforts of the Group’s employees and the importance of ensuring that all employees are well motivated and identify closely with the success of the Group.

Chris Day, the Company’s Chief Financial Officer, has been awarded 2,105 SIP Shares, as have certain other members of Group senior management considered to be PDMRs of the Company.  The notifications below, made in accordance with the UK Market Abuse Regulation, provide further details.

A total of 1,020,925 SIP Shares (the “New Ordinary Shares”) will be issued to the SIP Trust which will hold the shares on behalf of the relevant SIP participants.  The participants will be the beneficial owners of any Ordinary Shares held on their behalf by the trustee of the SIP Trust and the SIP Share awards are subject to continued employment during the minimum three year hold period.

Following the issue of the SIP Shares, Chris Day is interested in 2,105 Ordinary Shares, representing 0.001 per cent. of the Company’s enlarged issued share capital, as enlarged by the issue of the New Ordinary Shares.

Application has been made for the New Ordinary Shares, which rank pari passu with the Company’s existing ordinary shares, to be admitted to trading on AIM ("Admission") and it is expected that Admission will occur at 8.00 a.m. on 6 October 2021.

On Admission the Company will have 158,524,872 Ordinary Shares in issue.  No Ordinary Shares are held in treasury. The figure of 158,524,872 may be used by the Company’s shareholders as the denominator in the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

Shanker Patel, CEO, said: “With the issue of the SIP Shares, I am delighted to confirm that every Lords employee who has been with the Group for at least six months prior to IPO is now a Lords shareholder.  We are a people business and the future success of the Group relies on their continued hard work and commitment.”

FOR FURTHER ENQUIRIES:

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.