TIDMEQIP
RNS Number : 1632U
Equipmake Holdings PLC
29 July 2022
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM, THE UNITED STATES
OF AMERICA, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC
OF SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT.
This announcement is not an admission document or a prospectus
and does not constitute or form part of an offer to sell or issue
or a solicitation of an offer to subscribe for or buy any
securities nor should it be relied upon in connection with any
contract or commitment whatsoever. Investors should not purchase or
subscribe for any transferable securities referred to in this
announcement except in compliance with applicable securities laws
on the basis of the information in the admission document (the
"Admission Document") published by the Company (as defined below)
in connection with the placing of ordinary shares of GBP0.0001 each
(the "Ordinary Shares") by the Company and Admission (as defined
below).
Equipmake Holdings PLC
("Equipmake" or the "Company")
Admission to trading on AQSE and first day of dealings
Equipmake, the UK developer and manufacturer of best-in-class
electrification products for the provision of electric vehicle
("EV") drivetrains, is pleased to announce that admission of its
shares to trading on the Aquis Stock Exchange Growth Market ("AQSE
Growth Market") will commence at 8.00 a.m. today, 29 July 2022
("Admission"), under the TIDM "EQIP" and the ISIN number
GB00BMBVXB73.
The Company has successfully raised gross proceeds of GBP10
million and the market capitalisation of the Company upon Admission
at the issue price will be GBP35 million. On Admission the Company
will have 823,529,409 Ordinary Shares in issue.
The Company's AQSE Admission Document is available to view on
the Company's website https://equipmake.co.uk/investors .
Panmure Gordon (UK) Limited is acting as Corporate Adviser, Sole
Bookrunner and Sole Broker to the Company.
Highlights
-- Equipmake is a UK-based technology company which has
developed a range of electrification products for the provision of
EV drivetrains to meet the needs of the automotive, aerospace and
other sectors, in support of the transition from fossil-fuelled to
zero emission powertrains.
-- Equipmake's products can be used in a number of segments of
the transport sector, but its initial focus has been on the bus
sector, where it has secured a contract for retrofitting existing
buses currently in service in addition to developing a double
decker bus, incorporating its electric drive train, for the UK
market. Equipmake's products can be applied in a variety of other
vehicle electrification contexts, including hybrid, fully electric
and fuel cell vehicles.
-- The Directors believe Equipmake's products are among the best
in class at a component level and the Company has the ability to
supply a complete powertrain in addition to the supply of
individual component parts and bespoke solutions within this
framework, which gives it a significant competitive advantage over
other component suppliers.
-- The Company has a significant pipeline of opportunities in
excess of GBP400 million at various stages of negotiation, as
demand for electric vehicles increases as part of the global
decarbonisation movement.
-- The Directors believe that the ability to offer a vertically
integrated solution will enable Equipmake to seek higher margins,
or offer reduced pricing compared with competitors who are
integrating bought in system components.
-- Equipmake's initial focus is the bus industry, including the
provision of new buses and the retrofit of existing hybrid and full
diesel vehicles to become fully electric. It is also in discussions
with certain manufacturers of cars and other companies involved in
the aerospace and marine sectors.
Ian Foley, Founder and Chief Executive Officer of Equipmake,
said:
"We are delighted to be joining AQSE today and welcome our new
shareholders to Equipmake - it is a great endorsement of our
business and we look forward to accelerating it.
Global demand for electric vehicles is soaring. We are ideally
placed to benefit in the bus market, one of the most promising
sectors, which has so far been neglected.
We have developed a highly differentiated offering, driven by
both technology and relationships within the automotive sector -
this gives us a great platform to a very bright future as the world
decarbonises.
Today's listing sends a powerful signal about our intent and
potential, and we now have the backing to expand our operations and
to service the significant number of global opportunities in our
pipeline.
I would like to thank all our new shareholders for their support
and the fantastic team at Equipmake who have helped the Company get
to where we are today. We are all excited about the future"
The terms and definitions used in this announcement have the
same meaning as ascribed to them in the Admission Document, unless
otherwise stated.
For further information, please contact:
Equipmake Via MHP Communications
Ian Foley, Founder and CEO
Steven McGillivray, CFO
Panmure Gordon (AQSE Growth Market Corporate Tel: +44 (0)20 7886
Adviser) 2500
John Prior / James Sinclair-Ford / Soman
Thakran (Corporate Finance)
Hugh Rich / Sam Elder (Corporate Broking)
MHP Communications (Financial PR Adviser) Tel: +44 (0)20 3128
Tim Rowntree 8100
Eleni Menikou
Alan Tovey
About Equipmake
Equipmake (the "Company") is a UK-based technology company,
which has developed a range of electrification products for the
provision of electric vehicle drivetrains to meet the needs of the
automotive, aerospace and other sectors in support of the
transition from fossil-fuelled to zero emission powertrains.
Equipmake's products can be used in a number of segments of the
transport sector, but its initial focus has been on the bus sector,
where it has secured a contract for retrofitting existing buses
currently in service in addition to forming a collaboration with
Beulas to develop a double decker bus, incorporating its electric
drive train, for the UK market. Equipmake's products can be applied
in a variety of other vehicle electrification contexts, including
hybrid, fully electric and fuel cell vehicles.
Following a number of years of engagement with potential
customers, the Company now has a significant pipeline of
opportunities of in excess of GBP400 million at various stages of
negotiation, as demand for electric vehicles increases as part of
the global decarbonisation movement.
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END
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