Lords Takes Complete Ownership of Direct Heating and Plumbing

Lords Group Trading plc (AIM: LORD), a leading distributor of building materials, plumbing, heating and DIY products, announces that it has completed the purchase of the remaining 6.4% minority shareholding in its existing subsidiaries, DH&P HRP Holdings Limited and DH&P Trade Counters Holdings Limited (together 'DH&P').

The Group originally purchased a 90% interest in DH&P in April 2022 and as disclosed at the time, the acquisition included a put and call option over the 10% shareholding retained by the vendors for a predefined market value.

The Group completed the purchase of 3.6% from one of the vendors earlier in the year and the remaining option has now been exercised for £1.1 million in cash, funded from existing resources and the Group now owns 100% of DH&P.

Source : Lords Group Trading plc

Image : Lords Group Trading plc

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