2 Apr 2015 08:01
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2 April 2015
Marshall Motor Holdings plc
("MMH", the "Company" or the "Group")
Admission to AIM and first day of dealings
Marshall Motor Holdings plc, one of the UK's leading automotive retail and leasing groups representing a unique portfolio of prestige and volume brands and with the highest brand coverage of any dealer group in the UK, is pleased to announce that admission took place and dealings in its ordinary shares commenced at 08.00am today on the AIM market of the London Stock Exchange under the ticker "MMH" ("Admission").
The net proceeds from Admission of approximately £36.9 million will be used to:
· Accelerate growth through funding of acquisition opportunities; and
· Invest in the Group's existing operations including investment in freehold opportunities, site upgrades and redevelopments, and investment in the Group's website and e-commerce capabilities.
The Company's AIM Admission Document can be found at www.mmhplc.com
Daksh Gupta, CEO of MMH, commented:
"We have been delighted by the investor support for our admission to AIM. Our IPO is the culmination of many months' hard work and means Marshall Motor Holdings is well positioned to deliver continued strong growth.
"I would like to take this opportunity to thank everyone involved in our IPO, especially those internally at Marshall as well as our advisers for their hard work throughout this process. I would also like to thank our brand partners for their support to date and we look forward to continuing to work closely together.
"On behalf of everyone at MMH I would like to place on record our gratitude for the support over more than 100 years of Marshall of Cambridge. We look forward to continuing to work with them along with all of our new shareholders.
"Today represents a significant milestone in our continued development together. There are many exciting opportunities ahead for MMH and all of our people."
For further information regarding Marshal Motor Holdings plc, please call:
Marshall Motor Holdings PLC | c/o Hudson Sandler +44 (0)20 7796 4133 |
Peter Johnson, Non-Executive Chairman | |
Daksh Gupta, CEO | |
Mark Raban, CFO | |
Investec Bank plc (Sole Financial Adviser, Sole Bookrunner, Nominated Adviser & Broker) | +44 (0)20 7597 4000 |
Christopher Baird | |
David Flin | |
David Anderson | |
Hudson Sandler | +44 (0)20 7796 4133 |
Nick Lyon | |
Alex Brennan |
Notes to Editors:
Marshall Motor Holdings plc ("MMH") is one of the UK's leading automotive retail and leasing groups representing a unique portfolio of prestige and volume brands and has the highest brand coverage of any dealer group in the UK.
MMH comprises two integrated businesses that strongly complement each other: Marshall Motors and Marshall Leasing.
The Group operates 71 franchise dealerships representing 24 different manufacturing brands in 16 different counties.
MMH is the only dealer group in the UK to represent all of the top-five prestige brands (Audi, BMW, Mercedes-Benz, Land Rover and Jaguar) and all of the top ten volume brands (Ford, Vauxhall, Volkswagen, Nissan, Peugeot, Toyota, Citroen, Hyundai, Kia and Skoda).
MMH has the highest brand coverage of any dealer group in the UK, the collective market share of its portfolio of brand partners amounting to 88%.
In 2014, MMH sold more than 57,000 new and used vehicles. In 2014, MMH generated turnover approaching £1.1 billion and recorded profit before tax of £12.9 million.
The Group is headquartered in Cambridge, UK.
http://www.mmhplc.com/
http://www.marshallweb.co.uk/ / http://marshall-leasing.co.uk/