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Schedule 1 - The 600 Group plc

16 Jun 2011 07:00

RNS Number : 5192I
AIM
16 June 2011
 



 

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:

 

The 600 Group plc

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

 

Registered Address

 

Union Street

Heckmondwike

West Yorkshire

WF16 0HL

 

Trading Address

 

600 House

Landmark Court

Revie Road

Leeds

LS11 8JT

 

 

COUNTRY OF INCORPORATION:

UK

 

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

 

www.600group.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY). IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

 

The 600 Group is a diversified engineering group, manufacturing and distributing machine tools, precision engineering components, laser marking systems and mechanical handling and waste management equipment.

 

The Group operates these four areas of business from locations in the UK, Poland, North America, Australia and South Africa, selling into more than 180 countries worldwide.

 

The Company's principal place of business, management and control is 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 held as treasury shares):

63,821,253 Ordinary Shares of 1p each.

 

There are no shares held in treasury.

CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on admission: none

Anticipated market capitalisation:£19 million

 

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

 

26%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM COMPANY HAS APPLIED OR AGREED TO HAVE ANY OF ITS SECURITIES (INCLUDING ITS AIM SECURITIES) ADMITTED OR TRADED:

Shares are traded on PLUS markets.

 

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Martin John Temple, Non Executive Chairman

David Howard Norman, Group Chief Executive

Martyn Gordon David Wakeman, Group Finance Director

Stephen John Rutherford, Non-Executive Director

Derek Zissman, Non-Executive Director

Paul Rich Dupee*, Non-Executive Director

 

*Mr Dupee holds a 44.5% stake in Haddeo Partners LLP.

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

 

Shareholder

Holdings

Haddeo Partners*

25.27%

Henderson Global Investors

8.33%

Schroder Investment Management

5.75%

Maland Pension Fund Trustees

4.74%

Barclays Stockbrokers

3.93%

 

*Haddeo currently hold 5,050,000 warrants in 600 Group

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None

 

(i) ANTICIPATED ACCOUNTING REFERENCE DATE

(ii) DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information)

(iii) DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i)31 March (the firm account to the nearest Saturday to this date each year)

 

(ii)Unaudited financial statements for the six months ending 2 October 2010 are available on the Company's website at the following address:

www.600group.com/media/pdf/600group_interim_report_2010.pdf

 

(iii)Final results to 2 April 2011 - due pursuant to AIM Rule 19 by 30 September 2011

Interim results to 1 October 2011 - due pursuant to AIM Rule 18 by 31 December 2011

Final results to 31 March 2012 - due pursuant to AIM Rule 19 by 30 September 2012

 

EXPECTED ADMISSION DATE:

 

14 July 2011

NAME AND ADDRESS OF NOMINATED ADVISER:

finnCap Ltd

60 New Broad Street

London

EC2M 1JJ

 

NAME AND ADDRESS OF BROKER:

 

finnCap Ltd

60 New Broad Street

London

EC2M 1JJ

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

 

N/A - quoted applicant

DATE OF NOTIFICATION:

16 June 2011

 

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:

UKLA Official List

 

THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

14 March 1947

CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY BREACH:

 

The Company confirms, following due and careful enquiry, that it has adhered to the legal and regulatory requirements involved in having securities listed on the Official List and admitted to trading on London Stock Exchange's main market for listed securities.

 

AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING ITS SECURITIES SO TRADED) ARE AVAILABLE:

www.600group.com

 

DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:

 

The Company's strategy is to grow organically and by selective bolt-on acquisitions of small businesses consistent with a diversified industrial strategy. The Group announced the acquisition of a machine tool manufacturing facility in Poland on 2 November 2010 which will enable the Group to reduce delivery times and further improve working capital. This was to supplement the Groups existing manufacturing capability in the UK. The Directors intend that the Company make further similarly beneficial acquisitions in the future.

 

A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

 

On 27 August 2010, Haddeo Partners and others (the Lenders") lent £2.5 million to the Company and in connection with this loan the Company issued the Lenders warrants to subscribe for 12,500,000 shares at a value of 20 pence per ordinary share.

 

The Group purchased a factory in Tarnow, Poland, and continued to employ all of the staff. Part of the machine tools production from the Heckmondwike site has now been moved to the Tarnow factory where the Group intends to gain from a more efficient production line. Consideration for the factory was EUR 1 million, of which only EUR 250,000 remains to be paid by 31 July 2011.

 

On 11 April 2011 a placing raised £1.7million (before expenses) for the Group which will be used to increase capacity and production within the Group following the acquisition of its new production facility in Poland.

 

A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

 

The Directors of The 600 Group plc have no reason to believe that the working capital available to the Company or its Group will be insufficient for at least 12 months from the date of admission.

 

DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:

 

There are no lock in requirements for the Company as per Rule 7.

 

A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S SECURITIES:

 

Settlement in such securities will be through the CREST system.

A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S SECURITIES:

 

www.600group.com/investor_relations/articles_of_association/

INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS NOT CURRENTLY PUBLIC:

 

www.600group.com/investor_relations/articles_of_association/

A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE 19:

 

The most recent annual and interim report are available at:

 www.600group.com/investor_relations/annual_interim/

 

[not in the last nine months but interims are published at the same web address which is ok according to Annex 1 paragraph 20.6.2]

 

THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:

 

No shares are held in treasury.

 

 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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