Business
First day of Dealings on AIM
First day of Dealings on AIM.
About this update from Plexus Holdings
[{"type":"text","content":"\n Plexus Holdings Plc\n09 December 2005\n\n\nFOR IMMEDIATE RELEASE Friday 9 December 2005\n\n\n Plexus Holdings plc\n ('Plexus', the 'Group' or the 'Company')\n\n First day of Dealings on AIM\n\n\nPlexus an established oil and gas engineering and service business based in\nAberdeen is pleased to announce the commencement of trading in its shares on AIM\nunder the ticker symbol: POS.\n\nPlexus, who also have an office in London and a presence in Houston, Texas has\ndeveloped and patented a method of engineering for oil and gas field wellheads\nand connectors, named POS-GRIP(TM), which involves deforming one tubular member\nagainst another to effect gripping and sealing.\n\nIn addition to applying the POS-GRIP technology to conventional fields, as oil\nand gas exploration and production shifts to more extreme operational\nenvironments in response to increasing demand, the Directors recognise that\nthere is a significant marketing opportunity in unconventional fields.\n\nAt the issue price of 59 pence per share, the Company raised £11.0 million\nbefore expenses through an institutional placing of 18,644,068 ordinary shares.\nOn Admission and at the issue price the market capitalisation will be\napproximately £47.3 million.\n\nBell Lawrie, a division of Brewin Dolphin Securities Limited is acting as both\nNominated Adviser and Broker to Plexus\n\nPlacing statistics\n\nPlacing Price 59p\nNumber of Existing Ordinary Shares 61,538,500\nNumber of New Ordinary Shares being issued pursuant to the Placing 18,644,068\nNumber of Ordinary Shares in issue on Admission 80,182,569\nMarket capitalisation following the Placing at the Placing Price £47.3 million\nPercentage of enlarged issued Ordinary Share capital being placed 23.3 per cent.\nGross proceeds of the Placing £11.0 million\nEstimated net proceeds of the Placing receivable by the Company £9.81 million\n\n\nFor further details please contact:\n\nPlexus Holdings plc Tel: +44 (0)20 7589 8555\nBernard van Bilderbeek, Chief Executive \nGraham Stevens, Finance Director\n\nBuchanan Communications Tel: +44 (0)20 7466 5000\nTim Thompson / James Strong \n\nBell Lawrie Tel: +44 (0)141 221 7733\nKenneth Fleming, Corporate Finance \nIain MacArthur, Institutional Sales\n\n\n\n\n This information is provided by RNS\n The company news service from the London Stock Exchange\n MGZNRMGKZM \n ","len...