AIM Schedule One - AssetCo Plc (1329U)
31 March 2021 - 9:30PM
UK Regulatory
TIDMASTO
RNS Number : 1329U
AIM
31 March 2021
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:
AssetCo plc
COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY
TRADING ADDRESS (INCLUDING POSTCODES) :
Singleton Court Business Park
Wonastow Road
Monmouth
Monmouthshire
NP25 5JA
COUNTRY OF INCORPORATION:
England and Wales
COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED
BY AIM RULE 26:
www.assetco.com
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:
On 8 February 2021, the Board announced its intention to change
the business strategy of the Company to the development of
an asset and wealth management business (the "New Strategy").
The proposed New Strategy will result in a fundamental change
of business and the Company will effect a readmission of its
Ordinary Shares pursuant to AIM Rule 14.
Upon completion of the readmission, the strategy of the Company
will change to the New Strategy of "acquiring, managing and
operating asset and wealth management activities and interests,
together with other related services". The New Strategy will
principally focus on making strategic acquisitions and building
organic activities in areas of the asset and wealth management
sector where the Directors believe structural shifts have the
potential to deliver exceptional growth opportunities. This
could include strategic acquisitions of undervalued asset and
wealth management businesses which have core capabilities that
play to these structural shifts, and where active management
can unlock value.
The Company's headquarters and main country of operation will
be the UK.
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):
6,532,943 ordinary shares of 10p each ("Ordinary Shares").
No restrictions on the transferability of the Ordinary Shares.
CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING)
AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:
The Company's current market capitalisation is approximately
GBP52.3 million, based upon its share price at close of business
on 25 March 2021 of 800 pence per Ordinary Share.
No capital has been raised on readmission.
PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:
54.7 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):
Tudor Davies - Chairman, Proposed Non-executive director
Mark Butcher - Non-executive director
Martin Gilbert - Non-executive director, Proposed Chairman
Peter McKellar - Non-executive director, Proposed Deputy Chairman
and CEO
Christopher Mills - 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 Existing Percentage
Ordinary Name of Existing
Shares Share Capital
Harwood Capital Management
Limited 1,622,500 24.8%
------------------- ---------------
Toscafund Asset Management
LLP 800,000 12.2%
------------------- ---------------
Lombard Odier Asset Management
(Europe) Limited 651,500 10.0%
------------------- ---------------
Martin Gilbert 650,000 9.9%
------------------- ---------------
ICM Limited 640,000 9.8%
------------------- ---------------
Richard Griffiths 291,872 4.5%
------------------- ---------------
Peter McKellar 225,000 3.4%
------------------- ---------------
Cadoc Limited 200,000 3.1%
------------------- ---------------
NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE
2, PARAGRAPH (H) OF THE AIM RULES:
n/a
(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 September
ii. 30 September 2020
iii. First three reports:
a. 30 June 2021 (in respect of the half yearly report to 31
March 2021)
b. 31 March 2022 (in respect of the annual report to 30 September
2021)
c. 30 June 2022 (in respect of the half yearly report to 31
March 2022)
EXPECTED ADMISSION DATE:
16 April 2021
NAME AND ADDRESS OF NOMINATED ADVISER:
Arden Partners plc
125 Old Broad Street, London, EC2N 1AR
NAME AND ADDRESS OF BROKER:
Arden Partners plc
125 Old Broad Street, London, EC2N 1AR
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:
A copy of the admission document containing full details about
the applicant and the admission of its securities is available
on the Company's website, www.assetco.com
THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO
APPLY
The Company has adopted the Quoted Companies Alliance, Corporate
Governance Code, published by the Quoted Companies Alliance
DATE OF NOTIFICATION:
31 March 2021
NEW/ UPDATE:
New
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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
PAAEAEDFDEXFEFA
(END) Dow Jones Newswires
March 31, 2021 06:30 ET (10:30 GMT)
Assetco (LSE:ASTO)
Historical Stock Chart
From Apr 2024 to May 2024
Assetco (LSE:ASTO)
Historical Stock Chart
From May 2023 to May 2024