Business
Admission to AIM and First Day of Dealings
Admission to AIM and First Day of Dealings.
About this update from Ensilica Plc
[{"type":"text","content":"\n \n \n 24 May 2022\n \n \n \n EnSilica plc\n \n \n \n \n (\"EnSilica,\" the \"Company\" or the \"Group\")\n \n \n \n \n \n \n \n \n \n Admission to trading on AIM and First Day of Dealings\n \n \n \n \n \n \n \n \n EnSilica, a leading designer and supplier of mixed signal ASICs (Application Specific Integrated Circuits), is pleased to announce the admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange. Dealings commenced at 8.00am today, Tuesday 24 May 2022, under the ticker \"ENSI\".\n \n \n \n \n \n EnSilica provides an end-to-end service for the design and supply of mixed signal ASICs, outsourcing certain elements such as the wafer fabrication of the manufacturing and packaging to third parties - otherwise known as a Fabless Semiconductor Model.\n \n \n \n \n \n EnSilica has raised £6 million through a placing and subscription of 12,000,000 Ordinary Shares at a price of 50p per share (the \"Placing Price\") and has a market capitalisation of approximately £37.6 million at the Placing Price.\n \n \n \n \n \n The Directors believe that the Group has reached a stage in its development where it will benefit from a quotation on AIM and that, as well as providing the Company with the net proceeds of the Fundraising, this will:\n \n \n \n \n \n ·\n enhance both transparency and international profile of EnSilica with existing and potential customers;\n \n \n ·\n allow the Company to access equity capital creating flexibility to fund growth and support potential M&A opportunities;\n \n \n ·\n enable EnSilica to attract, recruit and retain key employees who may be further incentivised through share option schemes; and\n \n \n ·\n create a platform for existing shareholders to participate in the future growth of the Company.\n \n \n \n \n \n Allenby Capital is acting as Nominated Adviser and Sole Broker to the Company and the placing.\n \n \n \n \n \n \n Ian Lankshear, Chief Executive Officer of EnSilica commented:\n \n \n \n \n \n \n \n \"Our admission to AIM represents a significant endorsement of our business which I believe creates an ideal platform from which to accelerate our growth ambitions.\n \n \n \n \n \n \n \n \n \n \"We have an outstanding team who have all helped established our market leading reputation...