Volvere PLC
24 December 2002
24 December 2002
Volvere plc begins trading on AIM
Dealings in the shares of Volvere plc, the London-based turnaround specialist
and activist investor, commenced today on the Alternative Investment Market. The
listing follows a Placing of 3,559,720 new Ordinary shares at 100p per share
raising approximately £3.4m for the company after expenses. At the Placing
price, Volvere is capitalised at £3.6m.
Volvere, whose Chief Executive is Jonathan Lander, has been established to make
investments in, or acquire companies that the Directors believe offer the
potential to unlock shareholder value. These investments or acquisitions will
comprise two principal types of company:
• Public and private companies that are in distress, the whole or any part
of which offer the opportunity of a turnaround, and/or
• Public companies which the Directors calculate have market capitalisations
below the realisable value of their net assets.
The reasons for the Placing and admission to AIM are:
• To raise funds to finance acquisitions and investments
• To provide tradeable Ordinary Shares to be used as consideration to make
investments
• To raise profile and increase deal flow, and
• For general working capital purposes.
Jonathan Lander commented, 'We believe Volvere will become one of the UK's
leading turnaround specialists and activist investors. Our combined experience
in these areas and the current sentiment in and condition of the UK markets will
help facilitate the achievement of the company's aims.'
Teather & Greenwood is Nominated Adviser and Broker to the Company.
For further information please contact:
Jonathan Lander, Chief Executive 020 7979 7596
Volvere plc Mobile 07815 871 747
Terry Garrett / Christian Taylor-Wilkinson
Weber Shandwick Square Mile 020 7067 0700
This information is provided by RNS
The company news service from the London Stock Exchange