Strix Group plc (LON: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, has announced 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.
