Business
First Day of Dealings on AIM
First Day of Dealings on AIM.
About this update from Lords Group Trading Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7382F\n Lords Group Trading PLC\n 20 July 2021\n \n \n \n \n \"NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA, NEW ZEALAND OR JAPAN OR ANY OTHER JURISDICTION IN WHICH PUBLICATION, RELEASE OR DISTRIBUTION WOULD BE UNLAWFUL.\"\n \n \n \n \n \n \n \n \n \n For immediate release\n \n \n \n \n 20 July 2021\n \n \n \n \n \n \n \n \n \n \n \n \n Lords Group Trading plc\n \n \n \n \n \n (\"Lords\", \"Lords Group\", the \"Company\" and together with its subsidiaries the \"Group\")\n \n \n \n \n \n FIRST DAY OF DEALINGS ON AIM\n \n \n \n \n \n Lords Group Trading plc, \n a leading distributor of building materials in the UK, is delighted to announce admission of its entire issued share capital to trading on the AIM market of the London Stock Exchange (\"Admission\"). Admission will take place, and dealings in the Company's ordinary shares will commence, at 8.00 a.m. today under the ticker \"LORD\".\n \n \n \n \n \n Lords is a specialist distributor of building, plumbing, heating and DIY goods. The Group principally sells to local tradesmen, small to medium sized plumbing and heating merchants, construction companies and retails directly to the general public.\n \n \n \n \n \n In conjunction with Admission, gross proceeds of £52 million have successfully been raised by way of an oversubscribed placing with institutional investors of \n 54,736,839 new and existing ordinary shares of 0.5 pence each (the \"Placing\") at a price of 95 pence per share (the \"Placing Price\").\n \n \n \n \n \n Cenkos Securities plc is acting as \n Nominated Adviser, sole broker and sole bookrunner in relation to the Admission.\n \n \n \n \n \n Key Highlights\n \n \n \n \n \n · \n The market capitalisation of the Company will be approximately £150 million on Admission.\n \n \n \n \n \n · \n Established over 35 years ago as a family business with its first retail unit in Gerrards Cross, Buckinghamshire. Since then, the Company has grown to a business operating from 33 sites with a combined turnover in excess of £288 million.\n \n \n \n \n \n · \n The Group aims to become a £500 million turnover building materials distributor group by 2...