Peter Cheung, Chairman of Accrol Gorup Holdings PLC LON:ACRL, commented: “We are delighted to have received such a high level of interest from institutional investors for our AIM listing. On behalf of the board I would like to take this opportunity to welcome our new shareholders to the business. We look forward to implementing our strategy and embarking upon this new stage in Accrol’s development together.”
Accrol Group Holdings plc LON:ACRL, a leading independent tissue converter, has told DirectorsTalk that Admission and dealings in its Ordinary Shares on the AIM market of the London Stock Exchange will commence at 08:00am today. Following Admission, dealings will commence under the TIDM code ACRL and its ISIN number is GB00BZ6VT592. Zeus Capital Limited (“Zeus Capital”) are Nominated Adviser and Sole Broker to the Company.
The Company, together with Zeus Capital, successfully raised approximately £63.5 million (before expenses) by placing approximately 63.5 million existing and new ordinary shares with investors at a placing price of 100 pence per ordinary share (the “Placing”). Accrol’s market capitalisation on Admission, based on the placing price, is approximately £93 million.
The net proceeds of the Placing of new ordinary shares will be used by the Group to repay all shareholder loan notes and refinance existing debt. The directors and the proposed directors of the Company (together the “Directors”) believe that Admission will provide the business with an increased reputation and profile and the ability to incentivise key employees, as well as providing a platform for the Group to execute its strategy.
The Company’s AIM admission document can be viewed at www.accrol.co.uk/investorrelations.
