TIDMADF
RNS Number : 4128X
Facilities by ADF plc
05 January 2022
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5 January 2022
Facilities by ADF plc
("ADF", the "Company" or the "Group")
Admission to Trading on AIM and First Day of Dealings
ADF, the leading provider of premium serviced production
facilities to the UK film and high-end television ("HETV")
industry, is pleased to announce the admission of its entire issued
ordinary share capital to trading on AIM ("AIM"), a market operated
by London Stock Exchange plc ("Admission").
Admission will take place and dealings will commence at 8:00
a.m. today under the ticker "ADF".
ADF hires out its facilities to productions throughout the UK
and Europe, providing its services to some of the world's largest
traditional and on-demand content production companies. ADF is the
only high-volume facilities provider in Europe that is approved by
albert, an organisation that measures and assesses the
environmental impact of businesses in the film and television
industry.
In conjunction with Admission, gross proceeds of GBP18.4 million
have successfully been raised by way of a placing with
institutional investors of 36,788,000 new and existing ordinary
shares of 1 pence ("Ordinary Shares") each (the "Placing") at a
price of 50 pence per share (the "Placing Price").
Cenkos Securities plc is acting as Nominated Adviser, sole
broker and sole bookrunner in relation to Admission.
Key Highlights
-- The market capitalisation of the Company on Admission will be GBP37.8 million.
-- ADF's business was established in 1992 in Bridgend, Wales,
and has since grown to the point where it is now a leading provider
of premium production facilities servicing productions with its
fleet of over 500 trailers and vehicles.
-- The Company provides its services to the largest global
production companies including Netflix, Sky, BBC, ITV, Disney, HBO,
and Apple, amongst others and has worked on some of the UK's most
popular television series, such as The Crown, Gangs of London and
Peaky Blinders.
-- ADF has an estimated 35 per cent. market share of providing
facilities to the UK HETV market.
-- The Group has ambitions to grow its business to GBP100 million revenue.
-- The successful fundraising included the placing of 30,000,000
new Ordinary Shares, raising gross proceeds of GBP15.0 million for
the Company and 6,788,000 existing Ordinary Shares, raising gross
proceeds of GBP3.4m for certain selling shareholders, in each case
at the Placing Price.
-- The net proceeds of the Placing received by the Company will
provide the Company with additional resources to finance the
acquisition of new capital equipment to meet increasing demand and
to strengthen the Group's balance sheet.
-- The Company's admission document is available for viewing at www.facilitiesbyadf.com.
-- The ISIN of the Ordinary Shares is GB00BNZGNM64, the SEDOL of
the Ordinary Shares is BNZGNM6 and the Company's LEI number is
984500F550EB62EDCP28.
John Richards, Chairman, commented:
"ADF is delighted to now be listed on AIM at such an exciting
time for the business and for the British Film and High-End TV
industry. The funds raised will further strengthen the Company's
financial position in continuing to meet increasing demand and will
also raise the Company's profile as a leading provider of premium
facilities to the film and HETV industry.
"I am grateful for all the hard work of our team and the support
of shareholders. We look forward to life on the public markets and
to the opportunities that it brings to our Company."
Marsden Proctor, CEO, said:
"The UK is enjoying a boom in investment in infrastructure and
High-End TV & Film production. Driven by the world's streaming
giants and their subscribers' insatiable appetite for box sets
& films.
"According to the British Film Institute making film and
High-End TV shows in 2021 will have hit GBP6bn, more than double
the spend in 2020. As an established business with a reputation for
excellence, high quality production facilities and a strong network
of contacts throughout the industry, we are very confident in the
long-term opportunities for the Company."
For further enquiries:
Facilities by ADF plc via Alma PR
Marsden Proctor, Chief Executive Officer
Neil Evans, Chief Financial Officer
John Richards, Chairman
Cenkos (Nominated Adviser and Broker) Tel: +44 (0)20 7397
Ben Jeynes / Max Gould / George Lawson - 8900
Corporate Finance
Alex Pollen - Sales
Alma PR (Financial PR) Tel: +44 (0)20 3405
Josh Royston 0205
Andy Bryant facilitiesbyadf@almapr.co.uk
John Coles
Molly Gretton
OVERVIEW OF FACILITIES BY ADF
ADF's production fleet is made up of premium mobile make-up,
costume and artiste trailers, production offices, mobile bathrooms
(known as honey wagons), diners, school rooms and technical
vehicles. The Group provides these production facilities and
additional services after a planning process with the customer held
well in advance of filming. In servicing productions, ADF staff are
available on site and each production is allocated an account
manager who acts as a single lead point of contact during
filming.
The Group serves customers in an industry that has experienced
significant growth in recent years with additional demand driven by
a material rise in the consumption of film and HETV content via
streaming platforms such as Netflix, Disney and Amazon Prime. The
UK film and TV industry has directly benefited during this growth
due to the quality of its production facilities and studios, highly
skilled domestic workforce, geography, accessibility to Europe,
English language environment and strong governmental support. Major
US streaming companies have now set up permanent bases in the UK,
with the UK now Netflix's third largest operation after the USA and
Canada.
The above trends have led to increased demand for the Group's
services, with ADF's fleet capacity already almost fully booked for
the 2022 calendar year, and the Group is seeing booking lead times
of on average seven months prior to the commencement of
filming.
KEY STRENGTHS
The Directors believe that ADF's key strengths include:
-- a high quality, market-leading offering resulting in strong
relationships with some of the world's largest film and HETV
producers;
-- an experienced management team with a wide and deep network of contacts;
-- strong revenue and earnings visibility;
-- being an established player in an industry with high barriers to entry; and
-- being the only facilities provider in Europe that is approved
by albert, the authority on environmental sustainability for the
film and television industry - an endorsement of the Group's
positive ESG strategy.
Cenkos Securities plc, which is authorised and regulated by the
Financial Conduct Authority in the UK, is acting exclusively for
the Company and no one else in connection with Admission. Cenkos
Securities plc will not regard any other person as its client in
relation to Admission and will not be responsible to anyone other
than the Company for providing the protections afforded to its
clients, nor for providing advice in relation to the contents of
this announcement or any transaction, arrangement or other matter
referred to herein.
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END
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