Business
Admission to AIM
Admission to AIM.
About this update from Gattaca Plc
[{"type":"text","content":"\n Matchtech Group PLC\n27 October 2006\n\n\n\n27 October 2006\n\n\n MATCHTECH GROUP PLC\n\n ADMISSION TO TRADING ON AIM\n\n\nMatchtech Group plc ('Matchtech' the 'Group' or the 'Company'), the fast-growing\ntechnical recruitment group, announces that following a successful placing, its\nshares have today been admitted to trading on AIM under the ticker symbol MTEC.\n\n\nHighlights\n\n • Based on the Placing Price of 310p per Ordinary Share and on 22,420,406\n Ordinary Shares in issue, Matchtech has a market capitalisation of £69.5\n million on Admission (£72.4 million including outstanding EMI options*);\n\n • The Placing raised £22.0 million before expenses for the selling\n shareholders; no new money was raised for the Group;\n\n • On Admission, 31.7% of the Group's issued share capital is held by\n institutional investors and 53.2% by the Group's Directors;\n\n\nArbuthnot Securities Limited is Nominated Adviser and Broker to Matchtech.\n\n\n* On Admission, EMI options over 946,026 Ordinary Shares will remain unexercised\nunder the Existing Share Scheme\n\n\nBackground on Matchtech\n\nMatchtech specialises in the provision of contract and permanent staff in the\nEngineering, Built Environment and Support Services sectors across the UK.\n\nIt was established in 1984 and has grown organically to become the UK's 4th\nlargest technical and engineering recruitment specialist and one of the UK's 20\nlargest recruitment companies (Source: Recruitment International Top 100 Report\n- August 2006).\n\nThe candidates placed by Matchtech are supplied to clients through a variety of\nclient relationships, from contingency-based placements through to master vendor\ncontracts. The Engineering and Built Environment recruitment markets are being\ndriven and are underpinned by the demand for qualified project and contract\nstaff needed for the design, construction, management and maintenance of\nlong-term capital assets and infrastructure projects funded by both the private\nand public sectors.\n\nOperating from a single site near Southampton, Matchtech provides predominantly\nprofessionally-qualified candidates to clients in a broad range of industries\nincluding oil and petrochemicals, marine, aerospace, water, electronics, civil\nengineering, building structures and transport infrastructure. It structures its\nbusiness across three...