mentor
- 25 Jul 2017 09:33
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Strix to float on AIM
Strix, a designer, manufacturer and supplier of kettle safety controls, intends to float on the AIM Market.
It said gross placing proceeds of up to £190 million are expected from the issue of new shares, which will be priced at 100p per share.
The net proceeds, in combination with new debt facilities, will provide an exit for the group's current investor group.
Strix is headquartered on the Isle of Man and has a market share of around 38% of the global kettle safety control market.
It said admission would enhance the profile of the business and provide permanent capital, enabling the company to strengthen its new product development capabilities.
The directors intend is to implement a progressive dividend policy, which will be based on a yield of 7% for the year ending 31 December 2017.
Admission to AIM is expected to occur on 8 August.
Mark Bartlett, chief executive of Strix, said: "Strix has a robust, highly cash generative business model. We have a growing global market share and in addition to the key OEMs in China, we work with a significant number of the best known brands and retailers worldwide. We look forward to becoming a public company and further growth of our business in existing and new markets."
HARRYCAT
- 28 Jul 2017 07:29
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Admission to Trading on AIM and First Day of Dealings
QUIZ, the omni-channel fast fashion womenswear company, is pleased to announce that Admission of its Ordinary Shares to trading on AIM, a market operated by the London Stock Exchange, will take place at 8.00am today, 28 July 2017. Dealings in the ordinary shares will commence under the ticker "QUIZ" with ISIN JE00BZ00SF59.
Upon Admission, the Company will have a market capitalisation of £200.0 million, following a successful Placing with institutional and private investors of QUIZ Ordinary Shares. Overall the Placing raised £102.7m of gross proceeds at a Placing Price of 161 pence: £92.1 million of gross proceeds for the Selling Shareholders and £10.6 million of gross proceeds for the Company, which will be used to accelerate its continued growth.