Result of Open Offer

NOT FOR PUBLICATION, RELEASE OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE PROHIBITED BY ANY APPLICABLE LAW.

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Flowgroup plc (the "Company")

Result of Open Offer

On 25 May 2017, the Company published its shareholder circular in connection with the Fundraising, including the Open Offer. The Open Offer closed for acceptances at 11.00 a.m. on 9 June 2017.

The Company announces that it has received valid acceptances from Qualifying Shareholders in respect of 89,890,015 Open Offer Shares, including applications for 32,729,248 Open Offer Shares under the Excess Application Facility. This represents approximately 26.04 per cent. of the maximum number of Open Offer Shares available under the Open Offer.

Qualifying Shareholders who have validly applied for Open Offer Shares will receive their full Basic Entitlement and any New Ordinary Shares they applied for under the Excess Application Facility.

The Company has therefore conditionally raised gross proceeds of approximately £0.9 million through the Open Offer. It is expected that the Admission of the 89,890,015 Open Offer Shares will become effective at 8.00 a.m. on 13 June 2017.

Open Offer Shares (in uncertificated form) are expected to be credited to CREST accounts on 13 June 2017 and definitive share certificates for the Open Offer Shares (in certificated form) are expected to be despatched to shareholders who hold their Ordinary Shares in certificated form by 27 June 2017.

The Fundraising remains conditional upon, amongst other things, Shareholder approval of the Resolutions at the General Meeting to be held on Monday 12 June 2017, the Loan Note Subscription becoming effective and Admission.

Unless otherwise defined, capitalised terms shall have the meaning as those set out in the 'Definitions' section of the announcement issued by the Company on Wednesday 24 May 2017.

Enquiries: