Business
Admission to AIM and First Day of Dealings
Admission to AIM and First Day of Dealings.
About this update from Angling Direct Plc
[{"type":"text","content":"\n \nRNS Number : 9113K Angling Direct PLC 13 July 2017 \n\n\n\n\n\nFor immediate release\n\n\n13 July 2017\n\n\n\n\n \n\n\n \n\n\n\n\n \nAngling Direct plc\n(\"Angling Direct\" or the \"Company\")\n \nAdmission to AIM and First Day of Dealings\n \n£9.0 million raised in oversubscribed placing\n \nAngling Direct plc (AIM: ANG.L), the largest specialist fishing tackle and equipment retailer in the UK, is pleased to announce the admission today of its ordinary shares to trading on the AIM market of the London Stock Exchange (\"AIM\"). Dealings in the Ordinary Shares will commence at 8.00am under the ticker ANG.L (\"Admission\"). Cenkos Securities was sole bookrunner for the placing and is acting as Nominated Advisor and Broker to the Company.\n \nThe admission follows an oversubscribed placing of new ordinary shares and sale shares at 64p raising a total of £9.0 million before expenses. On admission to AIM, the Company will have a market capitalisation of approximately £27.4 million.\n \nPlacing statistics:\n\n\n\n\nPlacing Price per ordinary share\n\n\n64 pence\n\n\n\n\nGross proceeds of the Placing\nGross proceeds of the Placing receivable by the Company \nGross proceeds of the Placing receivable by the selling shareholders\n\n\n£9.0 million\n£7.4 million\n£1.6 million\n\n\n\n\nNumber of Ordinary Shares in issue immediately following Admission\n\n\n42,812,500\n\n\n\n\nMarket capitalisation of the Company at the Placing Price\n\n\n£27.4 million\n\n\n\n\n \nHighlights:\n· Successfully raised £9.0 million by way of a placing of new and existing ordinary shares at 64 pence per share\n· Angling Direct sells fishing tackle products through its 15 UK retail stores and also online via its own website and other third party websites\n· UK fishing tackle retail market is highly fragmented and offers the opportunity for Angling Direct to act as one of the primary consolidators in this market\n· Proven track record of sales growth and profitability, driven by:\no Investment in e-commerce platform\no Strategic selection of new store roll outs and acquisitions\no Experienced management team\n· Key benefits of the listing include:\no Facilitate expansion through new store openings and acquisitions of ...