Business
Admission to Trading on AIM
Admission to Trading on AIM.
About this update from Breedon Group Plc
[{"type":"text","content":"\n RNS Number : 5214W Marwyn Materials Limited 12 June 2008 \n \nNews Release 12 June 2008\n\n\nMarwyn Materials Limited\n\n('Marwyn Materials' or the 'Company')\n\nMarwyn Materials Limited joins AIM\n\n\nMarwyn Materials Limited (AIM: MMAT), a vehicle established to acquire controlling interests in building materials businesses, both listed and unquoted, in the UK, Europe and US, creating shareholder value through market consolidation, today announces the commencement of dealings in its Ordinary Shares on AIM. Collins Stewart Europe Limited is acting as Nominated Adviser and Broker to the Company.\n\nThe chairman of the Company is Peter Tom CBE, formerly group chief executive and later chairman of Aggregate Industries plc. The Company's chief executive is Simon Vivian, former chief executive of Hanson plc's European Building Materials business and most recently chief executive of Mowlem plc.\n\nAdmission Statistics\n\n\n\n\nNumber of Existing Ordinary Shares\n\n\n2\n\n\n\n\nSubscription Price\n\n\n10 pence\n\n\n\n\nNumber of Subscription Shares \n\n\n135,999,998\n\n\n\n\nEnlarged Share Capital\n\n\n136,000,000\n\n\n\n\nSubscription Shares as a percentage of the Enlarged Share Capital\n\n\n99.99%\n\n\n\n\nInitial Gross Proceeds of the Subscription\n\n\n£13,599,999.80\n\n\n\n\nEstimated proceeds of the Subscription net of expenses \n\n\n£13,199,999.80\n\n\n\n\nMarket capitalisation of the Company on Admission at the Subscription Price\n\n\n£13,600,000.00\n\n\n\n\n\n \nReasons for the Subscription and Admission\nMarwyn Materials was incorporated in August 2007 to acquire and manage companies and businesses in the UK and international building materials industry. \n\nThe net proceeds of the Subscription will be used to meet general working capital requirements and to provide funds for the acquisition of minority stakes in UK and international quoted companies in accordance with the Company's stated investment strategy.\nThe Directors believe that Admission to AIM will have the following benefits:\n\n\nQuoted shares may be an attractive ...