LCT Lincat Group

RNS Number:5167B
AIM
03 August 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):


5,274,507 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; #34 million anticipated market capitalisation


PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:


33.38%


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                                  1,143,009                                   21.67
Mrs J Craddock                                     754,865                                   14.31
Paul Bouscarle                                     480,735                                    9.11
F&C Asset Management plc                           393,631                                    7.46
Mr PR & Mrs DM Bouscarle                           176,970                                    3.25
Bank of New York Nominees Ltd                      169,170                                    3.83
Mr JR & Mrs DI Hill                                161,808                                    3.07



After admission:




Shareholder                                Current holding        % of issued share capital of the
                                                                                           Company

Martin Craddock                                  1,143,009                                   21.67
Mrs J Craddock                                     754,865                                   14.31
Paul Bouscarle                                     480,735                                    9.11
F&C Asset Management plc                           393,631                                    7.46
Mr PR & Mrs DM Bouscarle                           176,970                                    3.25
Bank of New York Nominees Ltd                      169,170                                    3.21
Mr JR & Mrs D I Hill                               161,808                                    3.07




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


N/A


(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:


3 August 2007


NEW/ UPDATE:


UPDATE


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:


Lincat Group plc has pursued and intends to continue to pursue a progressive dividend
policy.



Lincat Group plc is not and over the past 12 months has not been involved in any
governmental, legal or arbitration proceedings such as would have a significant effect
on the Group's financial position or profitability.



James Martin Ralphs Craddock was a director of Chapel House Leisure Limited from 1998 to
2007 and was a director of Metec Leeds Limited when it went into receivership in 1986.



Alan Geoffrey Schroeder was a director of J P Morgan Fleming MidCap Investment Trust plc
until 2005, and is currently a director of Schroeder Farms Limited, Board Offer Limited,
Constructec Limited, Hometec Estates Limited, SOC Limited, SSRW Limited and SSRW
International Limited.



In 2000, RB International Limited, a company of which Alan Schroeder was a director,
went into Administration.



No other information in respect of any of the directors of Lincat Group plc is required
to be disclosed under paragraph (g) of Schedule Two of the AIM Rules.


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










                      This information is provided by RNS
            The company news service from the London Stock Exchange
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