Regulatory News

Lords Group Trading plc (AIM: LORD), a leading distributor of building materials, plumbing, heating and DIY products, announces that it has completed the purchase of the remaining 6.4% minority shareholding in its existing subsidiaries, DH&P HRP Holdings Limited and DH&P Trade Counters Holdings Limited (together 'DH&P').

The Group originally purchased a 90% interest in DH&P in April 2022 and as disclosed at the time, the acquisition included a put and call option over the 10% shareholding retained by the vendors for a predefined market value.

The Group completed the purchase of 3.6% from one of the vendors earlier in the year and the remaining option has now been exercised for £1.1 million in cash, funded from existing resources and the Group now owns 100% of DH&P.

 

FOR FURTHER ENQUIRIES:

Lords Group Trading plc Shanker Patel, Chief Executive Officer Stuart Kilpatrick, Chief Financial Officer	Via Burson Buchanan Tel: +44 (0) 20 7466 5000
Cavendish Capital Markets Limited (Nominated Adviser and Joint Broker) Ben Jeynes / Seamus Fricker / Andrea Callaghan (Corporate Finance) Julian Morse / Henry Nicol / Matt Lewis (Sales and ECM)	Tel: +44 (0) 20 7220 0500
Berenberg (Joint Broker) Matthew Armitt / Harry Nicholas / Detlir Elezi	Tel: +44 (0) 20 3207 7800
Burson Buchanan Henry Harrison-Topham / Sophie Wills	Tel: +44 (0) 20 7466 5000 LGT@buchanan.co.uk

 

Notes to Editors:

Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public. The Group operates through the following three divisions:

Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities. It operates both in the ‘light side’ (Building Materials and Timber) and ‘heavy side’ (Civils and Landscaping), through 33 locations in the UK.

Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public. The division offers its customers an attractive proposition through a multi-channel offering, operating in 15 locations enabling nationwide next-day delivery service.

Digital: CMO Superstores provides an online route to market from nine specialist websites for construction and plumbing & heating customers.

Lords was established in 1982 as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Group has grown to a business operating from 50 sites.

For additional information please visit www.lordsgrouptradingplc.co.uk