Ascribe, the health IT group focusing on medicines management, today announces
the commencement of dealings of its Ordinary Shares on the AIM market (AIM) of
the London Stock Exchange. Seymour Pierce is acting as Nominated Adviser and as
Broker to the Company. The stock market EPIC will be ASP.L.
Total number of New Ordinary Shares being placed on behalf of the Company 27,777,778
Number of Sale Shares being placed on behalf of Selling Shareholders 2,777,778
Total number of Ordinary Shares being placed 30,555,556
Issue Price 18p
Number of Ordinary Shares in issue immediately following Admission 103,441,732
Percentage of the Enlarged Share Capital being placed 29.5%
Market capitalisation at the Issue Price #18.6 million
Gross proceeds of the Placing receivable by the Company #5 million
Reasons for Admission to AIM and use of proceeds of the Placing
The proceeds of the Placing of the New Ordinary Shares, expected to amount to #5
million (before expenses) will be used by the Company, amongst other things, to
fund the acquisition of Protechnic Exeter Limited.
Stephen Critchlow, Chairman and Chief Executive of Ascribe, said: "We are
delighted that the flotation of the Company has been completed successfully.
The listing will enable us to take Ascribe to the next stage of its development
and maximise any acquisition opportunities for the Company within the
international healthcare market. Our strategy is to build on our position in
the medicines management market through organic growth and through a number of
acquisitions of profitable companies, such as Protechnic Exeter, which offer
complementary established systems to customers needing a medicines management
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