Tricorn : Update re Irrevocables and Posting of Circular

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

17 January 2020

Tricorn Group plc

('Tricorn' or the 'Company')

Update re Irrevocables

and

Posting of Circular

Further to its announcement of earlier today (the 'Announcement'), Tricorn (AIM: TCN.L), the AIM quoted tube manipulation specialist, is pleased to announce that it has today received an irrevocable undertaking from each of Yvonne Allsop (who holds 5,600,000 Ordinary Shares representing 16.33 per cent. of the Existing Ordinary Shares) and The Roger Allsop Discretionary Settlement (which holds 700,000 Ordinary Shares representing 2.04 per cent. of the Existing Ordinary Shares) to subscribe for their Basic Entitlements under the Open Offer in full and, save as set out in the Announcement, not to subscribe for any further Ordinary Shares prior to Admission. Yvonne Allsop and The Roger Allsop Discretionary Settlement have also undertaken not to vote on the Whitewash Resolution (Resolution 1 in the Notice of General Meeting).

Following receipt of the irrevocable undertakings from Yvonne Allsop and The Roger Allsop Discretionary Settlement, the Company has irrevocable undertakings on the terms described above from Shareholders holding in aggregate 11,770,000 Ordinary Shares representing 34.32 per cent. of the Existing Ordinary Shares:

Name	Total No. of Existing Ordinary Shares	Percentage of Existing Issued Share Capital
Roger Allsop	4,920,000	14.35%
Yvonne Allsop	5,600,000	16.33%
The Roger Allsop Discretionary Settlement	700,000	2.04%
Andrew Moss	450,000*	1.31%
Jane Moss	100,000**	0.29%
Total	11,770,000	34.32%

* This includes 300,000 Ordinary Shares beneficially held by Andrew Moss in an ISA.

** These Ordinary Shares are beneficially held by Jane Moss in an ISA.

In addition, the Company announces that copies of the Circular, including the Notice of General Meeting, together with the Form of Proxy and Application Form will be posted to Shareholders later today. The Circular will be made available on the Company's website,www.tricorn.uk.com.

Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the Announcement.

For further information please contact:

For further information contact:

Tricorn Group plc	Tel [phone]
Mike Welburn, Chief Executive	www.tricorn.uk.com
Phil Lee, Group Finance Director	[e-mail]
Shore Capital	Tel + 44 (0)20 7408 4080
Tom Griffiths - Corporate Advisory David Coaten - Corporate Advisory Henry Willcocks - Corporate Broking

The person responsible for arranging the release of this announcement on behalf of the Company is Mike Welburn, Chief Executive Officer of the Company.

Notes to Editors:

Tricorn is a value added manufacturer and specialist manipulator of pipe and tubing assemblies to niche markets worldwide.

For further information, please visit: www.tricorn.uk.com.