Business
First Day of Dealings on AIM
First Day of Dealings on AIM.
About this update from Rc Fornax Plc
5 February 2025 RC FORNAX PLC ("RC Fornax" or the "Company") FIRST DAY OF DEALINGS ON AIM AND COMPLETION OF FUNDRAISING RC Fornax plc (AIM:RCFX), the UK-based, highly accredited engineering consultancy providing high-impact work package solutions for critical military platforms, is pleased to announce that the admission of its ordinary shares of 0.25 pence each ("Ordinary Shares") to trading on AIM, a market operated by the London Stock Exchange, will take place today ("Admission"). Admission follows the successful completion of a fundraising of £6.15 million (before expenses) through a placing of new and existing Ordinary Shares with certain institutional and other investors (the "Placing"). Dealings in RC Fornax's Ordinary Shares on AIM will commence at 08:00 a.m. today under the TIDM "RCFX" and ISIN code GB00BTTQ2F04. RC Fornax Highlights · Comprehensive Defence Solutions for Critical Platforms: RC Fornax defines and executes engineering design projects under statements of work ("SoW"). The Company specialises in supporting critical military platforms. · Veteran-Founded, UK-Focused Excellence: RC Fornax is a proud, veteran-founded small-medium enterprise (SME) primarily focussed on supporting the UK defence industry. · Transforming Delivery with Outcome-Driven SoW: At the heart of RC Fornax's solutions is its ability to support customers in switching from traditional labour-based contracts into fully managed outcome-based services under SoW. · A rapid growth, market-disruptive, solutions provider in the defence sector: The Company is profitable, having exhibited significant growth over the past four years, since inception. RC Fornax has grown revenues by 100% CAGR to FY24 and generated aggregate EBITDA of over £1.9 million. · Supporting the UK Ministry of Defence ("MoD") Targets with Bespoke Solutions: RC Fornax has the ability to support the MoD's overarching commitments to maximise the integration of SMEs and shorten supply chains. The Board believes that positioning itself as an SME integrator will enable the Company to deliver higher value projects to customers and to contract directly with the MoD. · IR35 Compliance and Managed Services: Leveraging a combination of internal knowledge and strategic partnerships, the Company addresses IR35 req...