Business
First Day of Dealings
First Day of Dealings.
About this update from Kanabo Group Plc
[{"type":"text","content":"\n \nRNS Number : 3440F Spinnaker Opportunities PLC 17 May 2017 \n\nSpinnaker Opportunities Plc\n \nFirst Day of Dealings\n \n17 May 2017\n \nSpinnaker Opportunities Plc (the \"Company\" or \"Spinnaker\") is pleased to announce that it has raised £1.2 million in an Initial Public Offering (\"IPO\") on the Main Market of the London Stock Exchange.\n \nThe IPO, which comprised a Subscription and a Placing, was oversubscribed and comprises 24,000,000 New Ordinary Shares to be issued by the Company at 5p per Ordinary Share together with one Warrant to subscribe for one new Ordinary Share at 7.5p per new Ordinary Share. Gross proceeds were £1.2 million and net proceeds £1.07 million. The board has invested an aggregate of £310,000.\n \nAdmission of the issued share capital of 26,000,120 Ordinary Shares to the standard listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange will take effect, and dealings will commence, at 8.00am today under the ticker \"SOP\" (ISIN: GB00BYQCS703).\n \nCommenting on today's announcement, Andy Morrison, Chairman, said: \"We are delighted with the support we have received for our IPO and would like to thank all our new shareholders for their interest and participation. We are now very much looking forward to building and assessing an inventory of opportunities in order to progress our strategy of making a single material acquisition as quickly and as effectively as possible.\"\n \nFurther information can be found on the Company's website at www.spinnakeropportunities.uk. \n \nABOUT THE BUSINESS\n \nThe Company's main aim is to generate an attractive capital return to its shareholders by achieving valuation uplift upon an acquisition and associated Reverse Take-Over transaction and by selecting a target business that has significant further value and growth potential following acquisition.\n \nABOUT THE COMPANY\n \nThe Company aims to create a quoted vehicle modelled according to the best practices that the founders have seen. This means for example:\n \n· The founders and their associates have invested £535,750 of the initial capital through the subscription. This aligns the interests of shareholders and the board.\n \n· &n...