Likewise Group plc (LON:LIKE), the fast-growing and progressive flooring distributor in the UK, has announced that, further to the launch of the Retail Offer announcement made on 29 July 2026 at 1:00 p.m. regarding a retail offer via BookBuild, the Retail Offer is significantly oversubscribed and therefore the Company is increasing the Retail Offer, which is available to existing retail shareholders, by up to £2.0 million to raise gross proceeds of up to £4.0 million at a price of 28.5 pence per New Ordinary Share.
The proceeds of the Retail Offer will be utilised in the same way as the proceeds of the Placing and Subscription as announced at 6:01 p.m. on 28 July 2026.
The Retail Offer is open to eligible investors in the United Kingdom and is expected to close at 4.30 p.m. today, 4 August 2026. Investors should note that Intermediaries may have earlier closing times. For further information in relation to the Retail Offer, please refer to the Retail Offer Announcement.
The Retail Offer Announcement set out the terms of the Retail Offer, including that up to £2.0 million of Securities would be made available. In accordance with the Retail Offer Terms and Conditions, the Company has exercised its discretion to allot additional securities under the Retail Offer to up to £4.0 million. The Company has taken this decision in light of the strong demand received in the Placing and Subscription and now subsequently received under the Retail Offer to enable a greater number of retail investors to participate and to reduce the level of scale back that would otherwise be required.
As set out in the Retail Offer Announcement, investors were originally advised that applications, once made and accepted via an intermediary, could not be withdrawn. Following the increase in the size of the Retail Offer, the Company confirms that investors who have already submitted applications may amend or withdraw their applications through their intermediary prior to the closing of the Retail Offer.
The Company requires additional share allotment authorities to allot the Conditional Placing Shares, Conditional Subscription Shares and the Retail Offer Shares. Such authorities are set out in resolutions 1 and 3 in the Notice of General Meeting. The authorities contained in resolutions 1 and 3 are insufficient to enable to Company to allot the additional Retail Offer Shares pursuant to the upsized Retail Offer. Accordingly, the Company proposes to allot and issue the Additional Retail Offer Shares pursuant to the new general authorities under resolutions 2 and 4 in the Notice of General Meeting, if approved by shareholders at the General Meeting. As such, the resolutions that shareholders are being asked to vote on at the General Meeting will not change and accordingly, the Retail Offer comprising both the Retail Offer Shares and the Additional Retail Offer Shares is conditional, inter alia, on the passing of resolutions 1 to 4 at the general meeting of the Company to be held at 10:00 a.m. on 14 August 2026 at Unit 4 Radial Park, Radial Way, Birmingham Business Park, Solihull, Birmingham B37 7WN. Admission of the Retail Offer Shares and the Additional Retail Offer Shares pursuant to the Retail Offer is expected to take place on or around 8:00 a.m. on 17 August 2026.
For the avoidance of doubt, the Retail Offer is not part of the Placing or Subscription and completion of the Placing and/or Subscription is not conditional on the completion of the Retail Offer. Full details of the Fundraising, including the background to and reasons for the Placing, Subscription and Retail Offer is included in the separate announcement released by the Company at 6:01 p.m. on 28 July 2026.
