Business
Admission to AIM and First Day of Dealings
Admission to AIM and First Day of Dealings.
About this update from Strip Tinning Holdings Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7942B\n Strip Tinning Holdings PLC\n 16 February 2022\n \n \n \n \n THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL (EACH A \"RESTRICTED JURISDICTION\").\n \n 16 February 2022\n Strip Tinning Holdings plc\n (\"Strip Tinning\" or the \"Company\")\n Admission to Trading on AIM and First Day of Dealings\n \n Strip Tinning (AIM: STG), a leading supplier of specialist connectors to the automotive sector, is pleased to announce the admission of its entire issued share capital, being 14,324,324 ordinary shares of 1 pence each (\"Ordinary Shares\"), to trading on AIM, a market operated by the London Stock Exchange (\"Admission\").\n Admission and dealings in the Ordinary Shares will commence at 8.00 a.m. today, Wednesday 16 February 2022 under the ticker \"STG\". A further 813,045 Ordinary Shares, following the exercise of EMI options granted by the Company, will be admitted to trading at 8.00 a.m. tomorrow, Thursday 17 February 2022 (\"Second Admission\"). Following Second Admission, the Company will have a total of 15,137,369 Ordinary Shares in issue.\n The Company's AIM admission document (the \"Admission Document\") is available to view on its website at www.striptinning.com.\n \n IPO Highlights\n \n · In conjunction with Admission and Second Admission (together the \"Admissions\"), £11.5 million of gross proceeds have been raised by way of a placing of new and existing Ordinary Shares (the \"Placing\") at a price of 185 pence per Ordinary Share (the \"Placing Price\").\n \n · The Placing has raised gross proceeds of £8.0 million for the Company and £3.5 million for certain selling shareholders who have sold Ordinary Shares as part of the Placing, in each case at the Placing Price.\n \n · Upon Second Admission, the Company will have a market capitalisation (at the Placing Price) of approximately £28.0 million and a free float of 40.8%.\n \n · The Directors believe the Placing and Admission will enable the Company to accelerate its growth plans and underpin its early mover advant...