Plastics Capital, the consolidator of plastics products manufacturers focused on proprietary products for niche markets, today announces that dealings have commenced in 1,926,002 Ordinary Shares, representing the EIS Qualifying Shares and the Existing Ordinary Shares in issue prior to the Placing, following First Admission to AIM.
Dealings in the Company's Shares following Second Admission, Third Admission and Fourth Admission are expected in accordance with the timetable below.
8.00am on Tuesday 4 December
1,050,000 Ordinary Shares, representing the First VCT Qualifying Shares
8.00am on Wednesday 5 December
7,984,000 Ordinary Shares, representing the Second VCT Qualifying Shares
8.00am on Thursday 6 December
15,889,998 Ordinary Shares, representing the Consideration Shares and the Non-VCT Qualifying Shares
Total sum of all four Admissions amounts to 26,850,000 Ordinary Shares which at the Placing Price of 100 pence per Share would give a market capitalisation of £26.85 million assuming Second Admission, Third Admission and Fourth Admission occur.
Plastics Capital will appear under the EPIC code 'PLA'.
Charles Stanley Securities, a trading division of Charles Stanley & Co. Limited ("Charles Stanley") is acting as the Nominated Adviser and Broker to Plastics Capital.
Faisal Rahmatallah, Chairman, commenting on first day dealings said:
"I am delighted with the response from investors. Not only will the flotation raise our profile in the marketplace, but it will now enable the Company to continue its highly focused acquisition strategy. We look forward to continuing the successful growth of Plastics Capital as a public company."
Unless otherwise specifically defined in this announcement terms defined in the Admission Document have the same meanings when used in this announcement.