Neville Porter plc

                                ("Neville Porter" or the "Company")

                                    First day of dealings on AIM

28 February 2007

Neville Porter plc, a leading sports betting company, was today admitted to trading on the Alternative Investment Market
of the London Stock Exchange in conjunction with a placing that raised �865,000.  The market capitalisation of the
Company at the placing price of 2 pence per Ordinary Share is �3.46 million. 

ARM Corporate Finance Limited is Nominated Advisor and SVS Securities plc is Financial Adviser and Broker to the
Company.

Neville Porter's Ordinary Shares are listed on AIM under the symbol NEV. 

The AIM Admission Document is available from ARM Corporate Finance Limited, 12 Pepper Street, London E14 9RP.

Neville Porter's business

The Group's core business is the operation of on-course betting pitches in prime locations on leading horseracing
courses in the UK such as Royal Ascot, Cheltenham and Newmarket, and more recently at Leopardstown in the Irish
Republic. As an adjunct to its on-course betting business, the Business has, since last year, also operated a telephone
betting service for selected account customers.

Neville Porter, the founder of the Business, has twenty seven years' on-course betting experience and an extensive
knowledge of horseracing and sports betting generally. He has successfully built the Business up to its current
portfolio of 38 pitches in the UK and one in Ireland (with an aggregate value of approximately �1.1 million).  

The Business enjoys a high profile and has an excellent reputation in the horse racing industry.  It is one of the few
sources used by The Press Association to obtain starting prices and other key information for publication in the
national and sporting press and in betting shops across the UK.

The focus, following Admission, will be to expand the Company's Irish on-course betting activities and to develop its
off-course betting operations in order to offer the same high quality betting services to customers that it currently
offers at racecourses and to build upon the introduction of a broadly based telephone sports betting service.  Following
the establishment of the telephone sports betting service, the Company has plans to launch a sports betting website for
UK and European customers. 

The Company's strategy following Admission will be to develop the Group into an integrated on-course and off-course
sports betting operator with the objective of becoming a significant gaming group. The Directors believe that the Group
will be able to leverage off the Company's existing customer base to promote the "Neville Porter" brand name.

Use of Proceeds of the Placing 

The net proceeds of the placing will be used to open a call centre for telephone betting, establish an online sports
betting service, and acquire new pitches at horseracing tracks in Ireland.

David Soley, Non-Executive Chairman of Neville Porter said today:

"We are delighted that following a successful placing our shares will now be quoted on the Alternative Investment Market
of the London Stock Exchange. Neville Porter is an exciting business and with the heightened profile we hope to gain
from Admission we will push forward with plans to maximise revenues from our existing customer base and to attract new
customers through the establishment of additional, effective routes to market such as telephone betting and online
sports betting."

For further information, contact:

SVS Securities plc      
Richard Morrison
Ian Callaway 
Peter Manfield                                020 7638 5600
        
ARM Corporate Finance Ltd       
Ian Fenn
Nick Harriss                                  020 7512 0191
        
PGA & Co Ltd
Peter Gaze                                    07775 892 544



Notes to Editors

Placing Statistics

Placing Price                                                            2 pence
Number of Ordinary Shares in issue prior to the Placing              112,612,620
Number of Placing Shares                                              43,250,000
Gross proceeds receivable by the Company pursuant to the Placing        �865,000
Number of shares to be issued in connection with services provided
pursuant to the Placing and Admission                                 16,916,666
Number of Ordinary Shares in issue following the Placing             172,779,286
Percentage of the Enlarged Share Capital subject to the Placing            25.0%
Market Capitalisation at the Placing Price on Admission            �3.46 million

Board of Directors

David John Soley, ACMA, Non-Executive Chairman, aged 57
David is experienced in managing companies in an executive capacity and has overseen a number of mergers and
acquisitions. In 1998 he led a management buy-in team which acquired the Castle Eden Brewery from Whitbread plc. He
subsequently acquired Camerons Brewery from Wolverhampton & Dudley plc in 2002, with Brian Morton, and oversaw the
transfer of production from the Castle Eden Brewery to the Camerons Brewery. David is also a director of Eye Spy
Security Ltd. and chairman of Wilton Engineering Ltd. and Wilton Marine Ltd. He was a management consultant between
1990-98. Between 1984 and 1990 he worked in the oil and gas services industry for Davy Offshore Modules Ltd., a joint
venture company between Davy Corporation and Interdom Holdings. prior to which he was a director of the offshore
subsidiaries of A.M.E.C. David is an associate of the Chartered Institute of Management Accountants.

David Neville Porter, Managing Director, aged 47
Neville has been a bookmaker for 27 years and holds Bookmaker's Licences for the UK and Ireland. He has an excellent
knowledge of the sports betting market and has run profitable businesses in the sector for many years. Previously, he
owned betting premises and ran a greyhound stadium - which included supervision of all greyhound trainers, veterinary
facilities, and management of staff operations. Neville is present at most of the racing fixtures covered by the
Company's pitches and has overall responsibility for operational controls, risk management and pitch acquisition.

Brian Morton, Executive Director, aged 47
Brian became a partner in the Business in July 2005 with a view to developing the UK off-course sports betting
activities. He is an experienced entrepreneur, having owned and managed a number of businesses within the leisure
sector. With David Soley he acquired Camerons Brewery from
Wolverhampton & Dudley plc in 2002 and subsequently sold his stake to Scottish & Newcastle plc in 2004. He remains a
consultant to Camerons Brewery with responsibility for finding and acquiring pubs. He has significant experience in the
betting industry having previously owned and operated betting premises, which were sold to Ladbrokes in 1989. He also
identified and acquired betting premises for Arthur Prince, bookmakers. He is also a member of the Race Horse Owners
Association.

Simon Howard Walters, ACA, Finance Director, aged 43
Simon qualified as a chartered accountant in 1986 and joined the corporate finance department of Stoy Hayward. In 1990,
he left to join Fuller Peiser, a national property consultancy, as finance partner, where he stayed for two years before
becoming finance director of the privately-held Molyneux property investment and venture capital group, whose interests
included 52 per cent of USM-listed Molyneux Estates plc. In 1997, he joined Shani Group plc, a fully-listed UK clothing
manufacturer with operations in the UK and Eastern Europe, as finance director of its trading subsidiaries. In 1999, he
was asked by Andrew Cohen, CEO of Betterware prior to its high-profile �127m sale, to join Wood Hall Securities, his
private equity group. Simon managed funds of �25m which were invested in a range of private high growth businesses and a
significant property portfolio. Simon has also been a non-executive director on the board of Bilston & Battersea Enamels
plc, finance director of the Fish! chain of restaurants after Wood Hall bought it out of receivership, and a director of
NetFM, an internet radio station which he headed for a consortium of backers. Simon is managing director of FD Solutions
and since 2003 has provided finance director services to a number of quoted and private companies in various sectors.

Arthur Sidney Baker, FCMA, ACIS, Non-Executive Director, aged 56
Arthur commenced his career as a management trainee at Sketchley plc, the textiles, hosiery and dry cleaning group. He
then joined the Development Trust department of Lazard Brothers which had responsibility for making investments in small
owner-managed companies and turnaround situations. In 1993-94, he was instrumental, as finance director of Mercury
Taverns, in raising �26m in debt and equity to enable the purchase of 111 pubs from Bass. Arthur left Mercury Taverns
and joined the Little Pub Company as finance director. This grew into a 21-strong Midlands pubs chain, before it was
sold to Ushers for �6.5m in 1998. Subsequently he has advised Close Brothers in acquiring pubs for their EIS investors
and is the Chairman of AIM-quoted pub company Innobox plc. In 2003, he led the management buy-in team of Blue Chip
Casinos, a Midlands regional casino chain that attracted equity investment from the NASDAQ-quoted Isle of Capri Casinos
Inc. He holds a hard gaming White Licence issued by the Gambling Commission, is a fellow of the Chartered Institute of
Management Accountants and an associate of the Chartered Institute of Company Secretaries.


- ENDS -


Neville Porter (LSE:NEV)
Historical Stock Chart
From May 2024 to Jun 2024 Click Here for more Neville Porter Charts.
Neville Porter (LSE:NEV)
Historical Stock Chart
From Jun 2023 to Jun 2024 Click Here for more Neville Porter Charts.