Disposal of Technocover Limited

ENSOR HOLDINGS PLC - Disposal of Technocover Limited

PR Newswire

London, July 14

14 July 2016

Ensor Holdings PLC (‘Ensor’ or the ‘Company’)

Disposal of Technocover Limited (‘Technocover’)

Ensor is pleased to announce the sale of the entire issued share capital of Technocover Limited to Lionweld Kennedy Flooring Limited, a subsidiary of Hill & Smith Holdings PLC, for a total cash consideration of £10,000,000 on a debt and cash free basis.

Out of the consideration, which is payable in cash on completion, an amount of £250,000 will be retained in escrow for up to 18 months. In addition, net cash of £1,100,000 in Technocover was retained by Ensor. The value of net operating assets disposed of is £3,695,000, subject to any balancing receipt or payment in respect of completion accounts in due course.

In the year to 31 March 2016, Technocover, a manufacturer and installer of steel security access products for the utilities markets, recorded turnover of £14.7 million and an operating profit of £1.53 million before group charges.

The sale of Technocover represents a further significant element of a process to dispose of all of the Company’s activities and return capital to shareholders. No distribution is proposed at present, pending the outcome of negotiations for the sale of the remaining businesses and assets.

Further announcements will be made in due course including the reporting of preliminary results for the year ended 31 March 2016, expected to be during the week commencing 18 July 2016.

Enquiries

Ensor Holdings PLC: Roger Harrison / Marcus Chadwick - 0161 945 5953

Stockdale Securities Ltd: Robert Finlay / Rose Ramsden - 020 7601 6100