Likewise Group plc, the distributor of residential and commercial flooring to retailers and contractors, is pleased to announce that the company has conditionally raised gross proceeds of £14m at an issue price of 35 pence per new ordinary share.

Subject to the necessary resolutions being passed at a general meeting to be held on 10 January 2022, 40,000,000 new ordinary shares are to be issued, raising gross proceeds of approximately £14m.

The 40,000,000 new shares will result in the issued share capital of the company increasing to 237,374,194 ordinary shares (assuming no other new ordinary shares are issued between now and admission). The new ordinary shares will represent approximately 19 per cent of the enlarged share capital of Likewise Group immediately following admission.