Completion of Share Buy Back
("Mortice" or the "Company")
Completion of share buy back
Mortice Limited (AIM: MORT), the AIM listed security and facilities management company, announces that, further to the announcement on 29 April 2019, the Company has completed the buy-back of 1,458,333 ordinary shares of no par value ("Ordinary Shares") for GBP 1.20 each from Gerard McGrath and Kathleen McGrath, the vendors of Elite Cleaning & Environmental Services Ltd (the "Buy Back").
These Ordinary Shares have been cancelled with immediate effect. The Company advises that, following the Buy Back and cancellation, the total issued share capital of the Company is 50,864,707. No Ordinary Shares are held in Treasury. The above figure of 50,864,707 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, the Company under the FCA's Disclosure Guidance and Transparency Rules.
Manjit Rajain, Executive Chairman
Tel: +91 981 800 0011
Tel: 020 7220 0500
Carl Holmes / Giles Rolls
About Mortice Limited
Mortice (AIM: MORT), is an AIM listed security and facilities management company, incorporated in Singapore and based in India with additional operations in Singapore and the UK.
Mortice operates under two brands, in India:
§ Peregrine Guarding Private Limited, as registered Company operating under the brand name of "Peregrine", provision of guarding and security services to a wide range of clients from blue-chip companies, smaller businesses, commercial and private properties, and individuals.
§ Tenon Facility Management India Private Limited, as registered Company operating under the brand name of "Tenon", provision of a full range of facilities management services to corporate occupiers, owners and developers of real estate. Clients include respected blue-chip and home-grown companies. Within the Tenon group of companies Mortice also offers security surveillance services through its subsidiary Companies i.e. Soteria Command Center Private Limited and mechanical and engineering services via Roto Power Projects Private Limited.
The business is growing and profitable and is focused on expanding its geographical footprint and growing through targeted acquisitions, as well as organically.
In 2015, the Company established in the name of Tenon Facility Management UK Limited and through this wholly owned subsidiary Company acquired UK based Office & General Group Limited, an independent property service company specialising in cleaning and providing support services such as environmental solutions and built fabric maintenance in the UK. Office & General Environmental Services Limited has been fully integrated and re-branded as Tenon FM Limited For more information see: www.tenon-fm.com/what-we-do
In April 2017, Tenon UK completed the acquisition of Manchester-based Elite Cleaning & Environmental Services Ltd ("Elite"). Elite has a strong blue-chip client base, which is complementary to the Company's existing UK portfolio.
The Company acquired a 51% stake in Singapore-based security company Frontline Security Pte. Ltd in November 2015 and the remaining 49% stake in May 2018 for a maximum consideration of SGD 3.5 million.
Learn more about Mortice through this video interview with Manjit Rajain, Executive Chairman of Mortice: www.brrmedia.co.uk/broadcasts/57c94e8cd6c09fd74b0ae623/mortice-unlocking-potential
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