19 Aug 2014 08:15

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, NEW ZEALAND OR THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE SAME WOULD BE UNLAWFUL.
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THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND 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 IN THE CAPITAL OF THE COMPANY, NOR SHALL IT (OR ANY PART OF IT), OR THE FACT OF ITS DISTRIBUTION, FORM THE BASIS OF, OR BE RELIED ON IN CONNECTION WITH OR ACT AS ANY INDUCEMENT TO ENTER INTO, ANY CONTRACT OR COMMITMENT WHATSOEVER.
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19 August 2014
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ATTRAQT Group plc
("ATTRAQT", the "Group" or the "Company")
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First Day of Dealings
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ATTRAQT Group plc (AIM: ATQT), a provider of eCommerce search, merchandising and recommendation technology, announces that dealings in the issued ordinary shares in the capital of the Company ("Ordinary Shares") will commence at 8.00 a.m. today on the AIM Market of the London Stock Exchange ("AIM").
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Admission details and overview of the Company
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· ATTRAQT is a Software as a Service ("SaaS") supplier that provides an integrated online merchandising platform, Freestyle Merchandising, which acts as an overlay to a retailer's eCommerce site and works to enhance the customer's experience as well as the sales performance of the site.
· ATTRAQT'S customers include, among others, Tesco Clothing, Boohoo.com, Superdry, Laura Ashley, Emma Bridgewater, Ellis Brigham, Paperchase, Screwfix, T.K. Maxx, BBC Retail and BT.
· The Company has raised £1.25m gross to provide working capital and fund growth of the Company going forward.
· The Company will have an initial market capitalisation on Admission of approximately £10.3m based on a price of 50 pence per Ordinary Share on Admission.
· It is anticipated that the Company's Admission to AIM will raise the profile of the Company, better position the Company to attract, recruit and retain key employees, provide the Company with greater flexibility for future growth and increase access to capital should further finance be required to expand the business.
· N+1 Singer is acting as Nominated Adviser and Broker to ATTRAQT.
Commenting on the successful Admission to AIM André Brown, Chief Executive and co-Founder, said:
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"Online retail has seen massive growth over the past decade, but many retailers are still struggling to truly capitalise on the change in the market. We are seeing growing demand for our merchandising technology from some of the major players in retail, seeking to significantly increase their online revenues, improve conversion rates and customer retention, and increase the average value of orders.
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We have a strong portfolio of clients and believe that by joining AIM, we will have an increased profile with future customers and better access to funds, allowing us to further develop ATTRAQT both domestically and internationally. Our scalable business model, impressive client list, experienced management team and innovative technology offering means we have confidence in the future success of ATTRAQT as a plc."
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Dan Wagner, eCommerce veteran, Chairman and co-Founder, commented:
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"As retailers come under greater pressure to engage and connect with a rapidly changing market place, driven by seismic shifts in consumer buying behaviour, the demand for transformational technology such as the ATTRAQT software has never been greater. As year on year growth in online sales hits new record highs retailers are experiencing the growing need to monetise this trend, and are relying on ATTRAQT's merchandising software to help increase conversion rates, retain customers and increase the value of orders. Investors now have a unique opportunity to share in the success of ATTRAQT and its considerable growth potential"
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For further information, please contact:
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ATTRAQT Group plc | via Newgate Threadneedle |
Andre Brown, CEO | |
David Stirling, CFO | |
N+1 Singer | Tel: 020 7496 3000 |
Shaun Dobson, Gillian Martin | |
Newgate Threadneedle | Tel: 020 7653 9850 |
Caroline Forde, Josh Royston, Heather Armstrong |
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About ATTRAQT
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ATTRAQT (formerly branded as "Locayta") was originally founded in 2003 by André Brown (CEO) and Daniel Wagner (Chairman), with the ambition to provide the best possible site search service for online retailers, with early customers including Nectar and BT Directories. In 2009, the Group upgraded its platform and launched recommendations and visual merchandising through what is now its main SaaS product, Freestyle Merchandising. The client base has now grown to over 80 clients, including Tesco Clothing, Boohoo.com and Superdry. The Company has market presence in Western Europe and the US with offices in London and New York.
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