Further re. A.W. Lumb Deferred Consideration
Lords Group Trading plc has announced that the vendor of A.W. Lumb has elected to receive the 2026 deferred consideration in cash, totaling £600,000, which has now been paid. This follows a previous issuance of 255,319 new ordinary shares in lieu of February 2025 deferred consideration. An aggregate of £480,000 in acquisition consideration remains payable in February 2027.
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Lords (LORD.L), a leading distributor of building materials in the UK, announced on 5 March 2025 that the Managing Director of A.W. Lumb (the 'Vendor') had then received 255,319 new ordinary shares in the Company in lieu of February 2025 deferred cash consideration due to the Vendor in respect of the Group's March 2022 acquisition of A.W. Lumb (the 'Acquisition').
The Company now announces that the Vendor has elected, alongside all other Acquisition vendors, to receive the deferred consideration due in 2026 in cash under the terms of the Acquisition agreement. With total 2026 deferred cash consideration of £600,000 now paid, remaining Acquisition consideration, of an aggregate of £480,000, remains payable in February 2027.
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