1 July 2016
SANDAL PLC
("Sandal" or the "Company")
CANCELLATION OF SHARES
The Board of Sandal plc, the designer, developer and manufacturer of electronic products, announces that 130,000 ordinary shares of 2 pence each have been cancelled with immediate effect.
These shares were issued prior to Admission to the ISDX Growth Market however subscription monies in respect of these shares were never received. The Company issued a notice to the shareholder for payment of these funds but this notice was not complied with. Accordingly, the Board resolved that these shares should be forfeited and cancelled in accordance with the Companies Act 2006.
As a result of the cancellation of these shares, the Company has 16,313,902 ordinary shares in issue and this figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
Ends
The directors of Sandal Plc accept responsibility for the contents of this announcement.
Enquiries:
Sandal Plc 01279 422022
Alan Tadd, CEO
Oliver Tadd, Director
www.sandal-plc.co.uk
Daniel Stewart & Co plc
David Coffman/Asha Chotai 020 7776 6550
MB Communications 07860 489571
Maxine Barnes
Note to Editors:
Sandal plc commenced business in 1996 and designs, develops and manufactures consumer electronics products. Its business is divided into two distinct product groups, PowerConnections, a long established wholesaler and reseller of a successful and unique international patented range of converter plugs and power cables, and Energenie, which sells a newer product range that includes energy saving products, portable charging devices and the new MiHome range of products aimed at the expanding "Home Automation" and "Internet of Things" marketplace.
PowerConnections is a supplier to customers, in the UK and abroad, of single-phase electrical connection products. The products are manufactured in three partner factories in the Far East and have distributors worldwide for its product range. The Company's product portfolio consists of Unique Range of Patented International Converter Plugs, International Power Leads, Rewireable Plugs and Connectors. The Company stocks these in the Far East and UK as well as at its distributors.
Energenie offers Eco and electrical, travel and energy saving products for homes and offices, reducing energy usage and the Home Automation sector. It has store listings for its current products with several large retailers including Homebase, Maplin, Amazon, Screwfix, Toolstation and ASDA.
The new range of MiHome home automation products makes the remote operation of everyday household appliances and energy monitoring more accessible to consumers due to better affordability and simplicity of control through smartphone and tablet connectivity.