Business
First Day of Dealings
First Day of Dealings.
About this update from Cohort Plc
[{"type":"text","content":"\n Cohort PLC\n08 March 2006\n\n\nFor Immediate Release 8 March 2006\n\n\n Not for release, publication or distribution in, or into, the United States,\n Canada, Australia, Japan and the Republic of South Africa\n\n\n Cohort PLC\n\n ('Cohort' or the 'Company')\n\n\n First day of Dealings on AIM\n\n\nCohort is pleased to announce the commencement of trading in its shares on AIM.\nThe ordinary shares will trade on AIM under the RIC code 'CHRT'.\n\n\nCohort has been established to capitalise on opportunities to grow, both\norganically and through acquisition, in the defence technical services market.\nThe directors of Cohort believe that the accessible UK market for such services\nis large and offers scope for expansion, whilst a portion of the supplier base\nis fragmented and provides opportunities for consolidation. Cohort will seek to\nmake targeted acquisitions of complementary businesses.\n\n\nCohort's sole initial trading subsidiary, Systems Consultants Services Limited\n('SCS'), is a leading independent defence technical services business based in\nHenley-on-Thames, Oxfordshire in the United Kingdom. SCS provides a range of\ntechnical services to clients in the defence and security sectors, its principal\nclient being the UK Ministry of Defence ('MOD') and its agencies. Its other\nclients include other UK government departments, NATO, major defence contractors\nand non-defence businesses.\n\n\nInvestec Investment Banking and Securities is acting as Nominated Adviser and\nBroker to the Company.\n\n\nPlacing Statistics\n\nPlacing Price 123 pence\n\nTotal Placing £9.5\n million\nTotal number of New Ordinary Shares being placed on behalf of the\nCompany 4,065,041\n\nTotal number of Sale Shares to be sold pursuant to the Placing 3,669,105\n\nNumber of New Ordinary Shares to be issued under the Employee\nShare Offer 217,976\n\nNumber of Ordinary Shares in issue immediately following the\nPlacing and Admission 22,121,497\n\nMarket capitalisation at the Placing Price immediately following\nAdmission £27.2\n million\n\nNet proceeds of the Placing receivable by the Company £4.1\n million\n\n\n\n\n\nFor further information please contact:\n\n\nCohort PLC 020 7190 1705\nNick Prest, Chairman\n\n\nInvestec 020 7597 5970\nMichael Ansell, Martin Smith\n\n\nGainsborough Communications 020 7190 1705\nAndy Cornelius/Julian Walker\n\n\n\nThe...