AIM Schedule One update - The Alumasc Group Limited (9480C)
21 June 2019 - 5:00PM
UK Regulatory
TIDMALU
RNS Number : 9480C
AIM
21 June 2019
ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION
IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM
RULES")
COMPANY NAME:
The Alumasc Group plc ("Alumasc" or the "Company")
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES):
The Alumasc Group plc
Station Road
Burton Latimer
Kettering
Northamptonshire
NN15 5JP
COUNTRY OF INCORPORATION:
England & Wales
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
https://www.alumasc.co.uk/investors/AIM (AIM Rule 26 section
to go live on admission)
COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE
TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:
The business of the Group and its principal activity is the
supply of premium building products, systems and solutions.
Almost 80% of Group sales are driven by building regulations
and specifications (architects and structural engineers) because
of the performance characteristics offered. The Group has three
business segments: Roofing & Water Management; Architectural
Screening, Solar Shading & Balconies; and Housebuilding Products
& Ancillaries.
The main country of operation of the Company and its subsidiaries
(the "Group") is the United Kingdom.
DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS
AS TO TRANSFER OF THE SECURITIES (i.e. where known, number
and type of shares, nominal value and issue price to which
it seeks admission and the number and type to be held as treasury
shares):
36,133,558 ordinary shares of 12.5 pence each ("Ordinary Shares").
The Company holds no Ordinary Shares in treasury.
No restrictions as to the transfer of securities
CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING)
AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
No capital to be raised on admission.
Anticipated market capitalisation on admission GBP36.5m
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
23.51 per cent.
DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH
THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE
OR WILL BE ADMITTED OR TRADED:
None
FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS
(underlining the first name by which each is known or including
any other name by which each is known):
John Stewart McCall - Chairman
Jon Peter Pither - Deputy Chairman
Graham Paul Hooper - CEO
Andrew Magson - Group Finance Director
David Christopher Armfield - Non-Executive Director
Vijaykumar Champaklal Thakrar - Non-Executive Director
Stephen James Beechey - Non-Executive Director
FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED
AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER
ADMISSION (underlining the first name by which each is known
or including any other name by which each is known):
Number of Ordinary Shares % of issued
held pre and post admission share capital
John McCall 4,359,668 12.07
----------------------------- ---------------
AXA Investment Managers 3,420,000 9.46
----------------------------- ---------------
Philip Gwyn 3,057,605 8.46
----------------------------- ---------------
Hargreaves Lansdown 2,317,416 6.41
----------------------------- ---------------
Unicorn Asset Management 1,800,000 4.98
----------------------------- ---------------
Chelverton Asset Management 1,626,000 4.49
----------------------------- ---------------
Estate of E W O'Loughlin 1,600,962 4.43
----------------------------- ---------------
NN Investment Partners
BV 1,525,000 4.22
----------------------------- ---------------
IPConcept Fund Management 1,500,000 4.15
----------------------------- ---------------
Interactive Investor Trading 1,088,018 3.01
----------------------------- ---------------
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
None
(i) ANTICIPATED ACCOUNTING REFERENCE DATE
(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION
DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)
(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:
(i) 30 June
(ii) N/A - existing issuer moving from the Official List
(iii) 31 December 2019 annual accounts for the full year to
30 June 2019
31 March 2020 (half yearly report for the six-month period
to 31 December 2019)
31 December 2020 (in respect of the annual report to 30 June
2020).
EXPECTED ADMISSION DATE:
25 June 2019
NAME AND ADDRESS OF NOMINATED ADVISER:
finnCap Ltd
60 New Broad Street
London
EC2M 1JJ
NAME AND ADDRESS OF BROKER:
Peel Hunt
Moor House
120 London Wall
London
EC2Y 5ET
OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE
(POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE
AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL
DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:
N/A - Quoted applicant
THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO
APPLY
QCA Corporate Governance Code
DATE OF NOTIFICATION:
21 June 2019
NEW/ UPDATE:
Update
QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:
THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S
SECURITIES HAVE BEEN TRADED:
Premium segment of the FCA's Official List and Main Market
of the London Stock Exchange.
THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO
TRADED:
30 May 1986
CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT
HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED
IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS
OF WHERE THERE HAS BEEN ANY BREACH:
The Company has adhered to the legal and regulatory requirements
applicable to companies admitted to the Official List and the
Main Market.
AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS
WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS
(IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:
https://www.alumasc.co.uk/investors/AIM
DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING,
IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING
STRATEGY:
The Company's strategy is to focus on driving growth through
a combination of market share gains, specific cross-selling,
cost savings, and complementary acquisitions. To implement
this strategy, the Company has repositioned itself to become
a dedicated supplier of premium building products, systems
and solutions to the construction industry, and it is seeking
to expand its opportunities internationally. The Board believes
that admission to AIM will provide an environment more suited
to pursue this strategy, which can assist the Company in developing
its business through organic growth and through more efficient
transaction activity to bring additional products into the
Company's portfolio. The Company's administrative and regulatory
requirements will be simplified following Admission, which
the Board believes will enable the Company to execute strategic
transactions more efficiently.
In particular, the Board believes that transactions for companies
admitted to AIM can be executed more rapidly with lower transactional
costs when compared to the regulatory requirements of companies
with shares listed on the premium segment of the Official List,
enabling more efficient implementation of the Company's strategy.
The Board believes that this increased flexibility has the
potential to be beneficial to the Company and its Shareholders.
A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING
POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE
OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE
BEEN PUBLISHED:
Save as disclosed in the Company's interim results issued on
31 January 2019 in relation to trading during the first half
of the current financial year to 30 June 2019, and in the trading
update released on 14 June 2019, there has been no significant
change in the financial or trading position of Alumasc since
30 June 2018, being the end of the last financial period for
which audited financial statements have been published.
A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON
TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS
GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM
THE DATE OF ITS ADMISSION:
The Directors of Alumasc have no reason to believe that the
working capital available to the Company or its Group will
be insufficient for at least 12 months from the date of its
admission.
DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE
AIM RULES:
None.
A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S
SECURITIES:
Settlement will continue to be through the CREST system for
dealings in ordinary shares
held in uncertificated form. Ordinary Shares can also be dealt
in certificated form.
A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
SECURITIES:
https://www.alumasc.co.uk/investors/AIM
INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT
WHICH IS NOT CURRENTLY PUBLIC:
See the Appendix to this Schedule One announcement, available
at:
https://www.alumasc.co.uk/investors/AIM
A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST
ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR
END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM
RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN
ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM
RULE 19:
https://www.alumasc.co.uk/investors/financial-reports-presentations/
THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:
None
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AIMFMMATMBJTBPL
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