News

Lords, a leading distributor of building materials in the UK, announces that it has been notified by Shanker Patel, the Company's Chief Executive Officer, that the conditional gift of 6,296,250 ordinary shares in the Company from another member of the Lords' concert party first disclosed in the Company's AIM Admission Document dated 14 July 2021 (the "Gift") has now become unconditional and  transferred into Shanker Patel's name.

As a result, Shanker Patel is now interested, together with his children and related entities and trusts, in an aggregate of 53,821,386 ordinary shares in the Company, representing 32.5 per cent. of the Company's issued ordinary share capital. With the Gift having become unconditional, the Company has also been notified that Rajen Patel is now interested in 15,204,540 ordinary shares, representing 9.2 per cent. of the Company's issued share capital.

The members of the Lords' concert party collectively hold an unchanged 84,535,727 ordinary shares in aggregate, representing 51.1 per cent. of the Company's issued share capital.

The notification below, which are made in accordance with the Market Abuse Regulation, provides further details.

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Notes to editors:

Lords is a specialist distributor of building, plumbing, heating and DIY goods.  The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public.  The Group operates through the following two divisions:

• Merchanting: supplies building materials and DIY goods through its network of merchant businesses and online platform capabilities.  It operates both in the 'light side' (building materials and timber) and 'heavy side' (civils and landscaping), through 26 locations in the UK.


• Plumbing and Heating: a specialist distributor in the UK of plumbing and heating products to a UK network of independent merchants, installers and the general public.  The division offers its customers an attractive proposition through a multi-channel offering.  The division operates over 16 locations enabling nationwide next day delivery service.

Lords was established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire.  Since then, the Group has grown to a business operating from 42 sites.  Lords aims to become a £500 million turnover building materials distributor group by 2024 as it grows its national presence.

Lords was admitted to trading on AIM in July 2021 with the ticker LORD.L.  For additional information please visit www.lordsgrouptradingplc.co.uk.

The following notifications are intended to satisfy the Company's obligations under Article 19(3) of the Market Abuse Regulation.