Business
Intention to move from AIM to the Main Market
Intention to move from AIM to the Main Market.
About this update from Breedon Group Plc
[{"type":"text","content":"\n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. FURTHER, THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION.\n \n \n THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION.\n \n \n \n \n \n \n \n \n 8 March 2023\n \n \n \n \n \n \n \n \n \n \n \n \n BREEDON GROUP PLC\n \n \n \n \n \n \n \n \n \n Intention to move from AIM to the Premium Segment of the Official List\nand to trading on the Main Market\n \n \n \n \n \n \n To reflect our scale, maturity and growth ambitions, Breedon Group plc (\"Breedon\", the \"Group\" or the \"Company\") today announces its intention to move Breedon's ordinary shares to the premium listing segment of the Official List and to trading on the Main Market of the London Stock Exchange (\"Admission\").\n \n \n In 2010, when the Breedon assets were first acquired, we owned c.180 million tonnes of mineral reserves and resources and operated 29 quarries in Great Britain. Today we own one billion tonnes of mineral reserves and resources and operate over 300 sites across GB and Ireland. We generate nearly £1.4bn in revenue and £235m of Underlying EBITDA, providing employment and opportunity for 3,700 colleagues.\n \n \n As an established business, with a track record for growth and cash generation, robust corporate governance and ambitions for further expansion, the Directors believe the Main Market now offers the appropriate listing for a group of our scale and heritage; accordingly we intend to seek admission to the premium segment of the Official List in the coming months.\n \n \n The Directors consider that Admission would further enhance Breedon's corporate profile and recognition, as well as extending the opportunity to invest in the Group to index tracker funds and a broader group of international institutional shareholders. \n \n \n Subject to the necessary conditions and regulatory approvals being met, Admission is expected to occur during the second quarter of this year.\n \n \n Breedon does not intend to raise funds in connection with Admission. \n \n \n As part of Admission, the Directors ...