Pefaco International plc – Share Purchase Agreement

The company Pefaco p.l.c announced that a share purchase agreement has been entered into between its majority shareholder, Grupo Pefaco SL (majority shareholder of Pefaco p.l.c) and Genesis PFC (acting in its own name and for an on behalf of a large number of other shareholders in the Company, collectively, the "Genesis Parties").

In the agreement Grupo Pefaco SL has agreed to purchase all the shares in Pefaco p.l.c held by the Genesis Parties. Grupo Pefaco will, upon completion of the transaction, acquire 14,999,647 Ordinary A Shares (in aggregate) from the Genesis Parties (representing approximately 30% of the Company's Ordinary A Shares). As part of the transaction Grupo Pefaco will also acquire from Genesis PFC the single Ordinary B Share in the Company, which Ordinary B Share has significant special class rights as set out in the Company's Memorandum and Articles of Association. Completion of the various acquisitions from each of the Genesis Parties must take place by mid-February 2017.

As a result of the transaction, Grupo Pefaco will further consolidate its majority shareholding in the Company and therefore significantly reduce the Company's public float (to well below the 25% threshold required by Listing Rule 3.26).

To view the full announcement, click here.