18 Sep 2015 15:10
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A CONTRAVENTION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION
18 September 2015
Bonmarché Holdings plc
("Bonmarché" or the "Company")
Notification of proposed AIM cancellation and admission to the Official List
The Company is pleased to announce its intention to apply for the admission of its ordinary shares (the "Ordinary Shares") to the premium listing segment of the Official List of the UK Listing Authority (the "Official List") and to trading on the London Stock Exchange's main market for listed securities (the "Main Market") (collectively "Admission"). The UKLA has today approved a prospectus in relation to Admission (the "Prospectus"). Pursuant to Rule 41 of the AIM Rules for Companies, the Company hereby gives notice of the intended cancellation of trading of its shares on the AIM market of the London Stock Exchange ("AIM").
At the time of admission of the Company to AIM in November 2013, the directors of the Company (the "Directors") noted their intention, if and when appropriate, to apply for admission of the Company's shares to the Official List and to trading on the Main Market. Since then, Bonmarché has grown in scale and the Directors now believe that a move to the Official List and the Main Market is appropriate and will further raise the Company's profile.
It is expected that the Company's Ordinary Shares will be admitted to the Official List and to trading on the Main Market and simultaneously cancelled on AIM on or around 19 October 2015, subject to the receipt of the necessary approvals from the UK Listing Authority and the London Stock Exchange.
The Company is not raising any funds or issuing any Ordinary Shares in connection with Admission. Investors should consult their own tax advisers as to the tax implications of the move to the Official List and the Main Market.
Commenting on the proposed move to the Official List, Beth Butterwick, Chief Executive Officer, said:
"Given the Group's progress since admission to AIM in 2013, the board now considers the Official List to be a more appropriate platform for the continued growth of the Group."
Investec Bank plc has been appointed as sponsor and will continue to act as broker and financial adviser to the Company.
The Prospectus will shortly be made available on the Company's website at www.bonmarcheplc.co.uk and will shortly be available on the National Storage Mechanism at www.hemscott.com/nsm.do. The Prospectus will also be available for inspection during normal business hours at the offices of DLA Piper UK LLP, legal advisers to the Company, at 3 Noble Street, London EC2V 7EE.
A further announcement will be made in due course.
Current trading
Having reviewed the Group's current trading, the Board's expectations for the full year remain unchanged. It expects that the full year performance for FY16 will be weighted towards the second half of the year as the benefits of stronger like-for-like sales growth (due to weaker comparatives), new stores and an improved online offering are realised. Given the exceptionally strong trading enjoyed by the Group in the first half of FY15, the Board expects the result for the first half of FY16 to be broadly in line with the first half of FY15.
ENQUIRIES:
|
Not for release, publication or distribution, directly or indirectly, in or into the United States or any other jurisdiction where to do so would constitute a contravention of the relevant laws or regulations of such jurisdiction. This announcement (and the information contained herein) does not contain or constitute an offer to sell or the solicitation of an offer to purchase, nor shall there be any sale of, securities in any jurisdiction.
Investec, which is authorised by the Prudential Regulation Authority ("PRA") and regulated by the PRA and the FCA, is acting exclusively for the Company and no one else in connection with Admission, and will not regard any other person as a client in relation to Admission, and will not be responsible to anyone other than the Company for providing the protections afforded to clients of Investec or for giving advice in relation to Admission or the contents of this announcement or any transaction, arrangement or other matter referred to herein.