LCT Lincat Group

RNS Number:6330A
AIM
20 July 2007


 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR
                                             COMPANIES ("AIM RULES")

COMPANY NAME:


Lincat Group plc


COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :


Whisby Road, Lincoln, LN6 3QZ


COUNTRY OF INCORPORATION:


England and Wales


COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:


www.lincatgroup.co.uk by 20 August 2007


COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS
INVESTING STRATEGY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
STATED:


Manufacturer of commercial catering appliances, bar equipment and domestic range cookers, primarily for the UK
and European markets.


DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where
known, number and type of shares, nominal value and issue price to which it seeks admission and the number and
type to be held as treasury shares):


TBC ordinary shares of 10 pence each


CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:


No capital to be raised on admission; #35 million anticipated market capitalisation


PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:


TBC


DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE
COMPANY) ARE OR WILL BE ADMITTED OR TRADED:


NONE







FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or
including any other name by which each is known):


James Martin Ralphs Craddock - Executive Chairman

Paul Bernard Bouscarle - Chief Executive

Terence Edwin Storey - Finance Director

Michael Stephen Mitchell - Director

Charles Richard Foster Kemp - Non-executive Director

Alan Geoffrey Schroeder - Senior Independent Non-executive Director


FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND
AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):


Before admission:




Shareholder                             Current holding          % of issued share capital of the Company


Martin Craddock                               1,560,421                                             21.67
Mrs J Craddock                                1,030,532                                             14.31
Paul Bouscarle                                  656,291                                              9.12
F&C Asset Management plc                        547,557                                              7.61
Mr J R Hill                                     305,748                                              4.25



After admission:



TBC


NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:


Evolution Securities, Broker: #175,000

Eversheds LLP, Solicitors: TBC

KPMG, Tax Advisors: #40,000


(i)                  ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)                DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED

(iii)               DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:


(i)                  31 December

(ii)                N/A - quoted applicant

(iii)               30 September 2007; 30 June 2008; 30 September 2008


EXPECTED ADMISSION DATE:


20 August 2007


NAME AND ADDRESS OF NOMINATED ADVISER:


Evolution Securities Limited, Kings House,1 King Street, Leeds LS1 2HH


NAME AND ADDRESS OF BROKER:


Evolution Securities Limited, Kings House,1 King Street, Leeds LS1 2HH


OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL
BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS
SECURITIES:


N/A - quoted applicant


DATE OF NOTIFICATION:


20 July 2007


NEW/ UPDATE:


NEW


QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED:


The Official List of the UK Listing Authority


THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:


12 December 1994


CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY
REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY BREACH:


CONFIRMED


AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST
TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:


Lincat Group plc, Whisby Road, Lincoln, LN6 3QZ


DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS
INVESTING STRATEGY:


Lincat Group plc's businesses are all based in the UK and sell predominantly into the UK and European foodservice
industries, the key long-term market growth driver of which is the propensity of consumers to eat and drink out of the
home as a result of increasing disposable income and tourism. Lincat Group plc intends to retain its UK and European
focus and to exploit the numerous organic growth opportunities available to it given this key driver of long-term
market growth. Other areas of strategic focus include innovative product development, effective sourcing and efficient
manufacturing.



Acquisitions will be considered where they enhance core strategy but will not be an objective in themselves.


A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE
END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:


There have been no significant changes in the financial or trading position of the Group that have occurred since 31
December 2006, being the date to which its most recent unaudited interim financial statements were drawn up, other than
as set out below:



The improvement in IMC's results as a result of the lower cost base following the completion of its move to its Wrexham
site in December 2006. IMC's gross margin increased from 45.5 per cent in the six months to 31 December 2006 to 56.5
per cent in the period from January 2007 to May 2007.



The stainless steel price paid by the Group, which is typically fixed for 12 months, increased on 1 January 2007 by a
weighted average of 25 per cent. In addition, monthly stainless steel surcharges continue to increase as a result of
high nickel prices.


A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR
ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:


The Company is of the opinion that the working capital available to the Group following the Tender Offer and the
proposed repurchase of Ordinary Shares by the Company, pursuant to the Repurchase Agreement, taking into account its
bank and other facilities, is sufficient for its present requirements, that is, for at least 12 months from the date of
this document.



The Company is of this opinion based on the assumption that the authority to purchase Ordinary Shares sought in
Resolution 2 contained in the Notice of EGM announced on 27 June 2007 will be used in full at the Tender Price.


DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:


N/A


A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:


CREST and certificated form


A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:


www.lincatgroup.co.uk (by 20 August 2007)




INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC:


TBC


A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A
FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE.  THE
ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19:


www.lincatgroup.co.uk (by 20 August 2007)


THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:


N/A










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