Business
Admission to AIM
Admission to AIM.
About this update from Altitude Group Plc
[{"type":"text","content":"\n Dowlis Corporate Solutions plc\n07 November 2005\n\n \nDate: 7 November 2005\nOn behalf of: Dowlis Corporate Solutions plc ('the Group' or 'Dowlis')\n\nDowlis Corporate Solutions plc\nFirst Day of Dealings\n\nDowlis Corporate Solutions plc, the marketing solutions group, announces that\nits shares have been admitted to trading on AIM today under the trading symbol '\nDWL' ('Admission').\n\nThe Company has raised £4.5 million (before expenses) through a placing of\n12,500,000 new ordinary shares of 0.4p per share ('Ordinary Shares') at a\nplacing price of 36p per share ('the Placing Price'). Dowlis Corporate\nSolutions plc's market capitalisation will be approximately £13.5 million\nfollowing admission to trading of all issued Ordinary Shares at the Placing\nPrice.\n\n• Dowlis Corporate Solutions plc is a marketing solutions group focused on \n creative marketing solutions including the use of Promotional\n Merchandise to support wider marketing strategies, and generate client \n goodwill.\n\n• The Group's strategy is to create a leading integrated marketing services \n and support group organically and by acquisition.\n\n• The Group currently retains over 1,000 customers, ranging from large \n corporates to SMEs.\n\n• Dowlis has an experienced Board with extensive plc and marketing services \n experience.\n\n• For the 9 month period ended 30 June 2005, Dowlis had a turnover of £15.7m \n and is profitable.\n\n• The Directors believe that the most directly comparable quoted companies \n are 4imprint Group plc, Media Square plc and Tarsus Group plc.\n\n• The Company has received provisional approval from HM Revenue & Customs \n that the Placing Shares are capable of being a 'qualifying holding' for\n the purpose of investment by VCT and will rank as eligible for the purpose \n of EIS.\n\n\nPlacing Price 36p\nNumber of Ordinary Shares in issue prior to the \nPlacing 25,001,500\nNumber of Ordinary Shares being issued pursuant to the Placing 12,500,000\nNumber of Ordinary Shares in issue following the Placing 37,501,500\nPlacing Shares as a percentage of the enlarged issued \nshare capital 33.33%\nNet proceeds of the Placing £4.1m\nMarket capitalisation of the Company at the Placing Price \nfollowing Admission £13.5m\n\n\nCommenting on Dowlis's intention to float on AIM, Martin Varley, the Group's\nChief Exec...