Flowgroup : Result of PrimaryBid Offer

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Flowgroup plc

('Flow' or the 'Company')

Result of PrimaryBid Offer and announcement of Open Offer details

Flowgroup plc (AIM:FLOW), which provides a range of innovative energy technologies, energy supply and energy services, announced on 24 May 2017 a conditional Fundraising which included a Placing, a PrimaryBid Offer (the 'PrimaryBid Offer'), an Open Offer and a Loan Note Subscription.

The Company is pleased to announce that it has successfully completed the PrimaryBid Offer and has conditionally raised a total of £636,647 in four hours on the platform. As such, up to approximately £3.45 million will be available to Qualifying Shareholders under the Open Offer. Qualifying Shareholders may apply for Open Offer Shares under the Open Offer at the Issue Price on the following basis:

25 Open Offer Shares for every 23 Existing Ordinary Shares

and so in proportion for any number of Existing Ordinary Shares held on the Record Date. Entitlements of Qualifying Shareholders will be rounded down to the nearest whole number of Offer Shares. Fractional entitlements which would otherwise arise will not be issued to the Qualifying Shareholders but will be made available under the Excess Application Facility. The Excess Application Facility enables Qualifying Shareholders to apply for Excess Shares in excess of their Open Offer Entitlement. Not all Shareholders will be Qualifying Shareholders. Shareholders who are located in, or are citizens of, or have a registered office in certain overseas jurisdictions will not qualify to participate in the Open Offer.

Further details of the Open Offer are to be included in a Circular to Shareholders which it is expected will be posted to Shareholders later today. The expected Open Offer timetable was announced by the Company on 24 May 2017 and is also contained within the Circular.

The Fundraising is conditional, inter alia, upon:

a) the passing of the Resolutions at the General Meeting by Shareholders;

b) the Placing and Open Offer Agreement becoming or being declared unconditional in all respects and not having been terminated in accordance with its terms prior to Admission;

c) the Capital Reorganisation becoming effective;

d) the Loan Note Subscription becoming effective; and

e) Admission becoming effective by no later than 8.00 a.m. on 13June 2017 or such later time and/or date (being no later than 8.00 a.m. on 27 June 2017) as Cenkos and the Company may agree.

If any of the conditions are not satisfied, the Offer Shares will not be issued and all monies received from the investors will be returned to the investors (at the investors' risk and without interest) as soon as possible thereafter. The PrimaryBid Offer and the Open Offer are not being underwritten.

Unless otherwise defined, capitalised terms shall have the meaning as those set out in the 'Definitions' section of the announcement issued by the Company on Wednesday 24 May 2017.

Enquiries:

Flowgroup plc020 3137 4525

Tony Stiff, CEO

Nigel Canham, CFO

PrimaryBid Limited 0207 7491 6519

Dave Mutton

Walbrook PR Ltd

Paul McManus 07980 541 893

Nick Rome 07748 325 236