Business
Admission to Trading and First Day of Dealings
Admission to Trading and First Day of Dealings.
About this update from Emmerson Plc
[{"type":"text","content":"\n \nRNS Number : 8942W Emmerson PLC 15 February 2017 \n\n15 February 2017\n \nEmmerson Plc\n \n(\"Emmerson\" or \"the Company\")\n \nAdmission to Trading and First Day of Dealings\n \nEmmerson Plc is pleased to announce the successful placing of 30,433,242 new ordinary shares of no par value in the Company (the \"Placing\") at a placing price of 3p per new ordinary share and admission of its entire share capital, being 48,183,344 ordinary shares of no par value (\"Ordinary Shares\"), to the Official List (by way of a Standard Listing under Chapter 14 of the Listing Rules) and to trading on the London Stock Exchange's Main Market for listed securities (the \"Admission\"). \nOptiva Securities Limited has been appointed by the Company as financial adviser, broker, and placing agent in connection with the Placing.\nCompany Strategy\n \nEmmerson Plc was registered and incorporated on the Isle of Man on 1st March 2016 and is targeting acquisitions with a net present valuation of up to £100 million (the \"Acquisition\").\n \nFollowing completion of the Acquisition, the objective of the Company will be to operate the acquired business and implement an operating strategy with a view to generating value for its shareholders through operational improvements as well as potentially through additional complementary acquisitions following the Acquisition. \n \nThe Company's efforts in identifying a prospective target company or business will not be limited to a particular industry or geographic region. However, given the experience of the Directors, the Company expects to focus on acquiring an exploration or production company or business in the natural resources sector with either all or a substantial portion of its operations in South East Asia, Africa, and the Middle East.\n \nIn assessing the potential Acquisition, the Board will pay particular attention to the following overriding factors:\n \n• the existence of production providing cash flow for the business;\n• strong exploration potential in known natural resources producing areas;\n• the quality of the management; \n• an established track record of developing natural resources assets.\n \nThe Company has raised gross proceeds of £912,997.26 under the Placing, which will be used to facilitate its acquisiti...