Business
Admission to AIM
Admission to AIM.
About this update from Logistics Development Group Plc
[{"type":"text","content":"\n Legacy Distribution Group Inc\n16 March 2006\n\n\n Legacy Distribution Group Inc.\n\n Admission to trading on AIM\n\n\nLegacy Distribution Inc. ('Legacy' or the 'Group'), one of Arizona's leading\ncandy, cigarettes, tobacco products and groceries wholesalers and distributors,\nannounces today that dealings in its shares have commenced on AIM under the\nsymbol LDG.\n\n\nThe principal reason Legacy has floated on AIM is to enhance its ability to pay\nfor acquisitions by enabling it to issue publicly traded securities and allow it\nto follow a strategy of growth, whilst avoiding the costly regulatory\nrequirements of a US listing. The flotation will also raise Legacy's profile\nand allow the Company to incentivise staff.\n\n\nADMISSION STATISTICS\n\nPrice on admission 10p\nMarket capitalisation on Admission £7.3 million/$13 million\nNumber of Ordinary Shares in issue on Admission 73,446,328\n\n\n\nLegacy was founded in 1955 and is primarily engaged in the distribution of\ntobacco, cigarettes, candy and grocery products to independent retailers. The\nGroup has a 50 year trading record, and is licensed and bonded for tobacco\ndistribution by the states of Arizona and Nevada, as well as by five Native\nAmerican Tribes.\n\n\n\nThe Group currently serves approximately 1,300 customers in over 2,200 retail\nlocations. Customers comprise almost all of the major grocery chains in the\nstate of Arizona as well as independent grocery stores, liquor stores, smoke\nshops, convenience stores, petrol stations and licensed casinos operated by\nNative American Tribes. It also serves businesses in the states of Nevada and\nNew Mexico.\n\n\n\nFrank Patton, chief executive, commented on the float: 'Now that our shares\nare quoted on AIM we can really start to drive the business forward. There are\na number of ways in which we intend to grow the business, both organically and\nby acquisition, and I look forward to delivering shareholder value in the\nfuture.'\n\n\n\nLegacy Distribution Group Inc.\n\nFrank Patton, chief executive 00 1 602 344 6750\n\n\nCorporate Synergy\n\nOliver Cairns / Romil Patel 00 44 207 448 4400\n\nTavistock Communications\n\nRichard Sunderland / Rachel Drysdale 00 44 207 920 3150\n\n\n\nThe business\n\nBackground\n\nThe business was founded in 1955 by the Wendelken family. For 49 years the\nbusiness was family run and focuss...