Vulcan Industries plc

                            ("Vulcan" or "Company")

                   Acquisition of Romar Process Engineering,

        Update on the proposed acquisition of E Lowe Holdings Limited,

                              and Issue of Equity

ACQUISITION

Vulcan Industries plc (AQSE: VULC) is pleased to announce the proposed
acquisition of the business and certain assets  of Romar Process Engineering
Ltd ("Romar") for a total consideration of £550,000 to be satisfied from
internal financial resources and the issue of 2.5 million ordinary shares in
the Company (the "Acquisition"). The Board of Vulcan expects the Acquisition to
be immediately earnings enhancing.

Acquisition Rationale

Vulcan has been incorporated to build a group of UK companies providing
products and services to the engineering and, manufacturing sectors,
particularly focussed on metal fabrication and precision engineering, which
have underlying profitability and growth potential and can benefit from being
part of a larger group.

The acquisition of Romar, the first for Vulcan since its admission to AQSE in
June, is in line with its strategy to create a multidisciplinary engineering
Group establishing economies of scale. The skills base in Romar is closely
aligned to other businesses within the Group and will enable sharing and
transfer of skills between in-house fabrication and fitting on client sites.
This gives the Group the ability to undertake larger contracts and distribute
workload between sites optimising resource capacity. The Romar site also offers
another business within the Group and the opportunity to shed its discrete
overhead cost and move production into the Romar facility. We see opportunity
(or, it is our intention) to merge these two operations in 2021. This
acquisition provides clear contribution to Vulcan EBITDA through new long-term
clients, extended workforce skill sets, (bottom line) saving for existing
businesses and improvements in supplier negotiations.

About Romar

Romar specialises in all types of metal fabrication including:

  * Ring Rolling
  * Turning and milling
  * Forming and bending
  * Structural steel fabrication
  * All types of welding: MIG, TIG & ARC

  * Sheet metal work including cutting and profiling sheet metal

For the 9-month period to 20 July 2020, Romar reported unaudited revenue and
Profit Before Tax of £732,000 and £202,00 respectively. The book value of
tangible assets, inventories and cash being acquired is approximately £65,000.

Transaction summary

The total consideration for the purchase of the business and assets of Romar is
£550,000 to be satisfied as follows:

  * £350,000 payable in cash on completion of the acquisition.
  * Deferred consideration of £50,000, payable in ten equal instalments per
    month following the completion date.

  * £150,000 to be satisfied by the issue of 2.5m ordinary shares in Vulcan at
    an issue price of 6p.

IVI is making an interest free loan to RPE of £350,000 to fund the Acquisition
including all fixed assets, Intangible assets and inventory with the deferred
payment of £50,000 to be satisfied through ten equal instalments, paid monthly.

The Vulcan Group has formed a subsidiary RPE 2020 Limited ("RPE") whereby IVI
Metallics Limited ("IVI"), a subsidiary of Vulcan, initially held 73% of the
issued share capital with the vendor holding the remaining 27%.

Upon completion, Vulcan has acquired the remaining 27% holding RPE through the
issue of 2.5m ordinary shares of 0.04p each in the Company to the Vendor
("Consideration Shares"). As a result, RPE's share capital is now 100% owned by
Vulcan (directly and indirectly via IVI). Under the terms of the Purchase
Agreement, RPE will change its name to Romar Process Engineering Limited.

The Purchase Agreement contains standard restrictive covenants, warranties and
indemnities from the Vendor in favour of the Company

EXTENSION OF EXCLUSIVITY PERIOD

Vulcan also announces that the exclusivity period in respect of its proposed
acquisition of E Lowe Holdings Ltd ("E Lowe") has been further extended until
15 January 2021. The Company is still conducting the due diligence and the
disruptions caused by the Covid-19 pandemic have significantly impaired the
ability and  availability of the parties' advisers to complete that process.

ISSUE OF EQUITY

The Company has agreed to issue 797,619 new ordinary shares (83,333 shares at
an issue price of 6p per share and  714,286 shares at an issue price of 4.2p
per share) to suppliers of consultancy services to the company in lieu of £
35,000 of fees ("Fee Shares").

Admission

Application will be made for 3,297,619 ordinary shares to be admitted to
trading which is expected to commence on or around 27 October 2020 at 8:00am.

Total Voting Rights

Following admission of the Consideration Shares and of the Fee Shares, the
Company's issued share capital will comprise 249,290,835 ordinary shares of £
0.0004 each, with each share carrying the right to one vote.

The Company does not hold any ordinary shares in treasury. The above figure of
249,290,835  may therefore be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or of a change to their interest in the Company under the FCA's
Disclosure and Transparency Rules.

The Directors of Vulcan intend to continue to identify opportunities they
believe fulfil the Company's strategy to establish, invest in or acquire assets
and businesses in the engineering sector. Acquisitions and investments may be
funded with a combination of equity and cash, although the Company may also
utilise debt under certain conditions.

Contacts

Vulcan Industries plc                             Via Vox Markets

Ian Tordoff, Chairman

John Maxwell, CEO

First Sentinel Corporate Finance Ltd (AQSE        +44 7876 888 011
Corporate Adviser)

Brian Stockbridge

Gabrielle Cordeiro

Vox Markets (Media and Investor Relations)        vulcan@voxmarkets.co.uk

Kat Perez                                         +44 7881 622 830

Paul Cornelius                                    + 44 7866 384 707

About Vulcan

Vulcan seeks to acquire and consolidate traditional but historically profitable
engineering, manufacturing and industrial SMEs for value and to enhance this
value in part through group synergies, but primarily by unlocking growth which
is not being achieved as a standalone private company.

For further information, visit: https://vulcanplc.com