TIDMAURR
RNS Number : 5046Z
Aurrigo International PLC
15 September 2022
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES OF AMERICA (THE "UNITED STATES" OR THE "US"),
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION
WOULD BE UNLAWFUL (EACH A "RESTRICTED JURISDICTION").
15 September 2022
Aurrigo International plc
Admission to Trading on AIM and First Day of Dealings
Aurrigo International plc (AIM: AURR, the "Company" or
"Aurrigo"), a leading international provider of technology
solutions, announces the admission of its entire issued share
capital, being 41,666,667 Ordinary Shares, to trading on the AIM
market of the London Stock Exchange ("Admission").
Dealings in the Ordinary Shares will commence at 8.00 a.m.
today, 15 September 2022, under the ticker "AURR" (ISIN:
GB00BNG73286).
The Company's AIM admission document (the "Admission Document")
was published on 12 September 2022 and is available to view on its
website at: www.aurrigo.com/investors.
Admission Highlights
-- The Company has successfully raised gross proceeds of GBP8.0
million in total, at a price of 48 pence per Ordinary Share
-- Upon Admission, the Company will have a market capitalisation
(at the Offer Price) of approximately GBP20.0 million
-- The Directors believe that Admission is an important step in
Aurrigo's continuing development and will accelerate its commercial
progression. In particular, the Placing will provide the Company
with the capital to execute the Board's growth plans
-- Singer Capital Markets Securities Limited acted as Sole
Bookrunner and Placing Agent, Singer Capital Markets Advisory LLP
has been retained as Nominated Adviser and Broker
Company and Use of Proceeds
-- Headquartered in Coventry, UK, Aurrigo has a 29-year history
as a manufacturer and supplier of product solutions to premium
automotive OEMs.
-- It is highly regarded as a specialist in autonomous and
semi-autonomous technology solutions and is now moving into the
aviation, ground handling and cargo industries.
-- The Company has developed six autonomous vehicles to date,
which can be utilised to reduce costs, resolve operational issues
and tackle labour shortages, whilst also improving
sustainability.
-- Proceeds of the Placing will be used to:
- realise the potential growth of the Company's Aviation Division;
- scale headcount at all levels, both in the UK and internationally;
- increase brand awareness and enhance the Company's profile; and
- capitalise on its early mover advantage, through the
deployment of Auto-Sim and Auto-Dolly, the company's lead
products.
Prof. David Keene, CEO of Aurrigo, commented:
"Achieving our listing and fundraise in these challenging
markets is a real testament to the great technology, sound business
and talented team we have at Aurrigo. It gives us a solid platform
for growth and we are excited about taking the next step on our
journey.
"We're now in a great position to deliver on our planned
projects and opportunities, particularly in the aviation space,
introducing autonomous solutions which can improve efficiencies,
staffing shortages and sustainability for airport operations
globally."
Capitalised terms used in this announcement shall, unless the
context provides otherwise, have the same meanings as in the
Admission Document.
For further enquiries:
Aurrigo International plc via Instinctif Partners
Andrew Cornish, Non-Executive Chair
David Keene, Chief Executive Officer
Ian Grubb, Chief Financial Officer
Singer Capital Markets (Nominated Adviser
and Sole Broker)
Phil Davies, Rick Thompson, George Tzimas,
Kailey Aliyar +44 (0)20 7496 3000
Instinctif Partners (Financial Communications) +44 (0)20 7457 2020
Tim McCall, Rozi Morris, Mark Walter aurrigo@instinctif.com
About Aurrigo
Aurrigo is a leading international provider of transport
technology solutions. Headquartered in Coventry, UK, the company
designs, engineers, manufactures and supplies OEM products and
autonomous vehicles to the automotive and transport industries. It
is highly regarded as a specialist in autonomous and
semi-autonomous technology solutions for the aviation, ground
handling and cargo industries.
The company has three divisions, Automotive Technology,
Autonomous Technology and Aviation Technology. For more
information, see www.aurrigo.com
IMPORTANT INFORMATION
This announcement has been supplied for information purposes
solely in connection with Admission, and for no other purpose.
Neither this announcement nor its distribution to any person
constitutes or forms part of any offer or invitation to sell or
issue or purchase or subscribe for any shares or other securities
in the Company and nor shall it (or the fact of its distribution)
form the basis of, or be relied on in connection with, any contract
therefor.
This announcement does not constitute, or form part of, any
offer or invitation to sell or issue, or any solicitation of any
offer to purchase or subscribe for any shares or other securities
in any Restricted Jurisdiction. The Placing and the distribution of
this announcement and other information in connection with the
Placing and Admission in certain jurisdictions may be restricted by
law and persons into whose possession this announcement, any
document or other information referred to herein comes should
inform themselves about and observe any such restrictions. Any
failure to comply with these restrictions may constitute a
violation of the securities laws of any such jurisdiction. Neither
this announcement nor any part of it nor the fact of its
distribution shall form the basis of or be relied on in connection
with or act as an inducement to enter into any contract or
commitment whatsoever.
Recipients of this announcement who are considering subscribing
for or acquiring Ordinary Shares are reminded that any such
acquisition or subscription must be made only on the basis of the
information contained in the Admission Document, which may be
different from the information contained in this announcement. No
reliance may be placed, for any purpose whatsoever, on the
information or opinions contained in this announcement or on its
accuracy, fairness or completeness.
To the fullest extent permitted by applicable law or regulation,
no undertaking, representation or warranty, express or implied, is
given by or on behalf of Singer Capital Markets, or their
respective parent or subsidiary undertakings or the subsidiary
undertakings of any such parent undertakings or any of their
respective directors, officers, partners, employees, agents,
affiliates, representatives or advisers or any other person as to
the accuracy, sufficiency, completeness or fairness of the
information, opinions or beliefs contained in this announcement
and, save in the case of fraud, no responsibility or liability is
accepted by any of them for any errors, omissions or inaccuracies
in such information, opinions or beliefs or for any loss, cost or
damage suffered or incurred, howsoever arising, from any use, as a
result of the reliance on, or otherwise in connection with, this
announcement. Singer Capital Markets does not accept any liability
whatsoever for the accuracy of any information or opinions
contained in this announcement or for the omission of any
information from this announcement for which the Company and the
Directors are solely responsible.
Singer Capital Markets are authorised and regulated in the
United Kingdom by the FCA, are acting exclusively for the Company
as nominated adviser, sole broker, sole bookrunner and placing
agent (as appropriate) to the Company in connection with the
Placing and Admission and will not be acting for any other person
(including any recipient of this announcement) or otherwise be
responsible to any other person for providing the protections
afforded to clients of Singer Capital Markets or for advising any
other person in respect of the Placing and Admission or any
transaction, matter or arrangement referred to in this
announcement. Such persons should seek their own independent legal,
investment and tax advice as they see fit.
The Nominated Adviser's responsibilities as the Company's
nominated adviser under the AIM Rules for Nominated Advisers are
owed solely to the London Stock Exchange and are not owed to the
Company or to any Director or to any other person in respect of his
decision to acquire shares in the Company in reliance on any part
of this announcement or the Admission Document.
This announcement is directed only at persons whose ordinary
activities involve them in acquiring, holding, managing and
disposing of investments (as principal or agent) for the purposes
of their business and who have professional experience in matters
relating to investments and are: (i) if in a member state of the
European Economic Area ("EEA"), Qualified Investors as defined in
article 2(e) of Regulation (EU) 2017/1129 (the "EU Prospectus
Regulation"); (ii) if in the United Kingdom, are Qualified
Investors within the meaning of the UK version of the EU Prospectus
Regulation which forms part of UK domestic law pursuant to the
European Union (Withdrawal) Act 2018 and (a) fall within article
19(5) of the Financial Services and Markets Act 2000 (Financial
Promotion) Order 2005, as amended (the "Order") or (b) are persons
who fall within article 49(2)(a) to (d) (high net worth companies,
unincorporated associations, etc.) of the Order or (c) to whom it
may otherwise be lawfully distributed (all such persons together
being referred to as "Relevant Persons").
This announcement must not be acted on or relied on by persons
who are not Relevant Persons. Persons distributing this
announcement must satisfy themselves that it is lawful to do so.
Any investment or investment activity to which this announcement
relates is available only to Relevant Persons and will be engaged
in only with Relevant Persons. This announcement does not itself
constitute an offer for sale or subscription of any securities in
the Company.
The Ordinary Shares referred to in this announcement have not
been, and will not be, registered under the US Securities Act of
1933, as amended (the "Securities Act"), or with any securities
regulatory authority of any state of the United States or any other
jurisdiction, and the Ordinary Shares may not be offered, sold,
resold, transferred or delivered, directly or indirectly, in or
into the United States or to, or for the account or benefit of, US
persons ("US Persons") as defined in Regulation S under the
Securities Act ("Regulation S"), except pursuant to an exemption
from, or in a transaction not subject to, the registration
requirements of the Securities Act. The Ordinary Shares are being
offered and sold in offshore transactions outside of the United
States to persons that are not US Persons or acting for the account
or benefit of US Persons, in reliance on Regulation S, or otherwise
in transactions that are exempt from the registration requirements
of the Securities Act and other applicable US state securities
laws.
Acquiring Ordinary Shares may expose an investor to a
significant risk of losing all of the amount invested. The value of
shares can decrease as well as increase. This announcement does not
constitute a recommendation concerning the Ordinary Shares. Persons
considering purchasing the Ordinary Shares should consult an
authorised person specialising in advising on such investments.
This announcement includes statements that are, or may be deemed
to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will", or
"should" or, in each case, their negative or other variations or
comparable terminology. These forward-looking statements include
matters that are not historical facts. They appear in a number of
places throughout this announcement and include statements
regarding the Directors' current intentions, beliefs or
expectations concerning, among other things, the Company's results
of operations, financial condition, liquidity, prospects, growth,
strategies and the Company's markets. By their nature,
forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances. Actual results and
developments could differ materially from those expressed or
implied by the forward-looking statements. Forward-looking
statements may and often do differ materially from actual results.
Any forward-looking statements in this announcement are based on
certain factors and assumptions, including the Directors' current
view with respect to past or current trends, future events and are
subject to risks relating to future events and other risks,
uncertainties and assumptions relating to the Company's operations,
results of operations, growth strategy and liquidity. Whilst the
Directors consider these assumptions to be reasonable based upon
information currently available, they may prove to be incorrect.
Save as required by law or by the AIM Rules for Companies, the
Company undertakes no obligation to publicly release the results of
any revisions to any forward-looking statements in this
announcement that may occur due to any change in the Directors'
expectations or to reflect events or circumstances after the date
of this announcement.
Certain figures contained in this announcement, including
financial information, have been subject to rounding adjustments.
Accordingly, in certain instances, the sum or percentage change of
the numbers contained in this announcement may not conform exactly
to the total figure given.
Neither the content of the Company's website nor any website
accessible by hyperlinks on the Company's website is incorporated
in, or forms part of, this announcement.
Neither this announcement nor the Admission Document have been
approved by the FCA or London Stock Exchange, nor is it intended
that this announcement or the Admission Document will be so
approved.
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END
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September 15, 2022 02:00 ET (06:00 GMT)
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