First day of Dealings on AIM
09 December 2005 - 7:00PM
UK Regulatory
RNS Number:3899V
Plexus Holdings Plc
09 December 2005
FOR IMMEDIATE RELEASE Friday 9 December 2005
Plexus Holdings plc
("Plexus", the "Group" or the "Company")
First day of Dealings on AIM
Plexus an established oil and gas engineering and service business based in
Aberdeen is pleased to announce the commencement of trading in its shares on AIM
under the ticker symbol: POS.
Plexus, who also have an office in London and a presence in Houston, Texas has
developed and patented a method of engineering for oil and gas field wellheads
and connectors, named POS-GRIP(TM), which involves deforming one tubular member
against another to effect gripping and sealing.
In addition to applying the POS-GRIP technology to conventional fields, as oil
and gas exploration and production shifts to more extreme operational
environments in response to increasing demand, the Directors recognise that
there is a significant marketing opportunity in unconventional fields.
At the issue price of 59 pence per share, the Company raised #11.0 million
before expenses through an institutional placing of 18,644,068 ordinary shares.
On Admission and at the issue price the market capitalisation will be
approximately #47.3 million.
Bell Lawrie, a division of Brewin Dolphin Securities Limited is acting as both
Nominated Adviser and Broker to Plexus
Placing statistics
Placing Price 59p
Number of Existing Ordinary Shares 61,538,500
Number of New Ordinary Shares being issued pursuant to the Placing 18,644,068
Number of Ordinary Shares in issue on Admission 80,182,569
Market capitalisation following the Placing at the Placing Price #47.3 million
Percentage of enlarged issued Ordinary Share capital being placed 23.3 per cent.
Gross proceeds of the Placing #11.0 million
Estimated net proceeds of the Placing receivable by the Company #9.81 million
For further details please contact:
Plexus Holdings plc Tel: +44 (0)20 7589 8555
Bernard van Bilderbeek, Chief Executive
Graham Stevens, Finance Director
Buchanan Communications Tel: +44 (0)20 7466 5000
Tim Thompson / James Strong
Bell Lawrie Tel: +44 (0)141 221 7733
Kenneth Fleming, Corporate Finance
Iain MacArthur, Institutional Sales
This information is provided by RNS
The company news service from the London Stock Exchange
END
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