Cropper (J) Regulatory News (CRPR)

1 Aug 2007 14:46

AIM01 August 2007 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") COMPANY NAME: JAMES CROPPER PLC COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : BURNSIDE MILLS, KENDAL, CUMBRIA, LA9 6PZ COUNTRY OF INCORPORATION: ENGLAND COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: WWW.CROPPER.COM COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF ANINVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY). IF THE ADMISSION ISSOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED: The Group has four main areas of operation; Technical Fibre Products ("TFP"),James Cropper Speciality Papers (" Speciality Papers"), James Cropper Converting("Converting") and The Paper Mill Shop. All operations are based in the UnitedKingdom. TFP produces products for use in industrial insulation, fire protection systemsincluding positive pressure fire doors for the United States market, compositematerials for high performance applications including both commercial andmilitary aerospace, fuel cell technologies and the power generation industry. Speciality Papers produces high quality papers and board for the luxurypackaging markets, book bindings, filing products and industrial paper markets. Converting produces boards and laminated products for use in picture framing,point of sale display materials and also product for the luxury and premiumgoods packaging markets. The company also processes third party products for afee (Toll Manufacturing). The Paper Mill Shop is in the retail sector supplying own manufactured andbought in products to supply retail customers with stationery and craft productsthrough 24 outlets in the UK. DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be heldas treasury shares): Application will be made for 8,472,368 ordinary shares of 25 pence each to beadmitted to trading. There are no restrictions on the transfer of thesecurities. CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: No capital is to be raised on admission. The current market capitalisation onthe Official List is approximately £20 million and is expected to remain thesame on admission to AIM. PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: 32.1% of the Company's shares are not in public hands DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES(OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED: None FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining thefirst name by which each is known or including any other name by which each isknown): Director FunctionsJames Anthony Cropper Chairman Alun Idris Lewis Chief Executive and managing director of JCSP and director of TPMS and TFP John Malcolm Denman Group Finance Director and director of JCC and TFP George Thomas Quayle Director and managing director of TFP Nigel Anthony Read Director and sales and marketing director of JCSP and managing director of TPMS Patrick John Willink Director and operations director of JCSP Mark Alexander Cropper Non Executive Director Peter Lionel Herring Non Executive Director John Richard Sclater Non Executive Director David Robert Wilks Non Executive Director Key:JCSP James Cropper Speciality Papers LimitedTFP Technical Fibre Products LimitedJCC James Cropper Converting LimitedTPMS The Paper Mill Shop Limited FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OFTHE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first nameby which each is known or including any other name by which each is known): %J A Cropper 1974 Settlement (note 2) 12.55Mark A J Cropper 10.91Credit Agricole Cheuvreux 7.38Barclayshare Nominees (note 3) 4.73James A Cropper 4.87Stargas Nominees Limited 3.12Peter O'Reilly 3.00 Notes: 1. The percentages shown are before and after Admission. 2. Included in this percentage is 6.27% also disclosed in the name of M A J Cropper. 3. Included in this percentage is 1.31% also disclosed by M A J Cropper and 0.95% also disclosed by J A Cropper. NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: N/A (i) ANTICIPATED ACCOUNTING REFERENCE DATE (ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19: (i) The Company's accounting reference date is, and will remain, 31 MARCH. (ii) The last accounts were prepared to 31 March 2007 and published on 9 July 2007. (iii)The dates by which the company must publish its next three reports pursuant to AIM Rules 18 and 19 are as follows: Results to: Date to be published by:Interim 6 months to 30 September 2007 31 December 2007Final results for the 12 months to 31 March 2008 30 September 2008Interim 6 months to 30 September 2008 31 December 2008 The company would expect to announce its interim results in November of each year and its final results in July of therelevant year. EXPECTED ADMISSION DATE: 31 AUGUST 2007 NAME AND ADDRESS OF NOMINATED ADVISER: BREWIN DOLPHIN SECURITIES LIMITED EDMUND HOUSE, 12 - 22 NEWHALL STREET, BIRMINGHAM, WEST MIDLANDS B3 3DB NAME AND ADDRESS OF BROKER: BREWIN DOLPHIN SECURITIES LIMITED EDMUND HOUSE, 12 - 22 NEWHALL STREET, BIRMINGHAM, WEST MIDLANDS B3 3DB OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL ORINTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH ASTATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THEADMISSION OF ITS SECURITIES: N/A DATE OF NOTIFICATION: 1 AUGUST 2007 NEW/ UPDATE: NEW QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING: THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES HAVE BEEN TRADED: OFFICIAL LIST OF THE UK LISTING AUTHORITY THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED: 21 JUNE 1951 CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHEREDTO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIESTRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY BREACH: The Directors confirm that, after due and careful enquiry, the Company hasadhered to any legal and regulatory requirements involved in having itssecurities traded on the Official List of the UKLA AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THEAPPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITSSECURITIES SO TRADED) ARE AVAILABLE: WWW.CROPPER.COM DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASEOF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY: The Group's strategy following admission is to grow the business through furtherdevelopment of its niche markets and products, by working in partnership withits customers and suppliers, by investing in IT to provide competitiveadvantage, by improving efficiencies by effective organisation and by selectiveinvestment in plant and machinery. A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THEAPPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FORWHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED: There has been no material change in the Group's financial or trading positionsince the end of the last financial period for which audited statements havebeen published being 31 March 2007. A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THATTHE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR ATLEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION: The Directors of the Company have no reason to believe that the working capitalavailable to the Group will be insufficient for at least twelve months from thedate of admission. DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES: N/A A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES: Trading in the Company's shares are settled through CREST. A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES: WWW.CROPPER.COM INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOTCURRENTLY PUBLIC: NONE A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT ANDACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TOADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPAREDIN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19: WWW.CROPPER.COM THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:NONE This information is provided by RNS The company news service from the London Stock Exchange