Tristel plc
1 June 2005
TRISTEL PLC
ADMISSION TO TRADING ON AIM
Tristel plc ('Tristel' or the 'Company'), a healthcare business specialising in
infection control in hospitals, today announces the successful admission to
trading on AIM today. Teather & Greenwood, Nominated Advisor and Broker to
Tristel, has successfully raised £2.0m before expenses by way of an
institutional placing and dealing in Tristel shares will commence today.
Tristel's stock exchange symbol is TSTL.
Tristel markets a proprietary chlorine dioxide chemistry that is highly
effective in destroying all types of bacteria (including bacterial spores,
tuberculosis and MRSA), fungi and viruses and is one of a small group of
sporicidal agents that is safe and easy to use.
Tristel's core product range of instrument disinfectants has become the market
leader in the UK Acute & Private Hospital sector. They are used to decontaminate
heat sensitive endoscopic and ultrasound instruments in over 375 hospitals,
representing some 60 per cent. of all UK NHS Acute & Private Hospitals.
Highlights and Placing statistics
• 4,054,054 new ordinary shares and 1,351,351 existing ordinary shares
were placed at 37p per share with investors raising £1.5m and £500,000 before
expenses for the Company and for selling shareholders respectively. Net proceeds
receivable by the Company will be approximately £1.1m.
• The funds raised by the Company will be used for:
- increased investment in sales and marketing activities for existing
and new products and development of export markets;
- research and development for both the enhancement of existing
products and the addition of new products to the Company's portfolio;
- working capital requirements; and
- debt repayment of £367,500.
• Following admission on AIM Tristel will have 23,836,820 ordinary
shares in issue, valuing the Company at £8.82m at the placing price of 37p per
share.
• Tristel's products include Instrument Solutions (primarily for
flexible endoscopes), Instrument Wipes, Surface, Water and Skin Disinfectants.
Commenting, Paul Swinney, Chief Executive, stated:
'Tristel is a profitable and growing business with underlying patented
technology, selling a broad range of products to over 60% of the UK's hospitals
to help them tackle the growing problem of hospital acquired infection. By being
admitted to trading on AIM and raising these funds we will be able to sustain
further growth by supporting the sale of new product lines in the UK, and,
through distributors, increasing our penetration into overseas markets.'
Contacts:
Tristel plc Binns & Co PR Ltd
Paul Swinney Paul Barnes FCCA Paul McManus
Chief Executive Finance Director Tel: 020 7153 1485
Tel: 01638 721 500 Tel: 01638 721 500 Mob: 07980 541 893
About the Company
In 1998, the business that became Tristel acquired all world-wide rights to the
patented chemistry. The principal operating subsidiary of the Group was
established at this time to exploit the UK market. Tristel's products include
Instrument Solutions (primarily for flexible endoscopes), Instrument Wipes,
Surface, Water and Skin Disinfectants.
Tristel, based near Newmarket, Cambridgeshire, reported a pre-tax profit of
£0.165m from a turnover of £2.18m for the year ended 30 June 2004.
This information is provided by RNS
The company news service from the London Stock Exchange