Camkids Group PLC First day of dealings on AIM (1670U)

TIDMCAMK

RNS Number : 1670U

Camkids Group PLC

24 December 2012

 
 Press Release   24 December 2012 
 

Camkids Group plc

("Camkids" or the "Group" or the "Company")

First day of dealings on AIM

Placing and subscription to raise GBP6.4 million for the Company (before expenses)

Camkids Group plc, a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers, today announces the commencement of dealings of its Ordinary Shares on the AIM market of the London Stock Exchange. Allenby Capital Limited is acting as Nominated Adviser and sole Broker to the Group. The stock market epic will be CAMK.

Allenby Capital, together with the Company, has raised GBP6.4 million on Admission. The net proceeds of the Placing and Subscription will be used by the Company to enhance the Group's R&D facilities, branding and marketing, increase its presence in its existing provinces and to enter new markets in the PRC and extend its current production facilities.

Admission and Placing Statistics

 
 Placing Price                                                          88 pence 
 Number of Ordinary Shares in issue prior to and immediately 
  following the Placing                                               75,427,629 
 Market Capitalisation at the Placing Price on Admission        GBP66.38 million 
 Gross proceeds of the Placing and Subscription                   GBP6.4 million 
 Estimated net proceeds of the Placing and Subscription           GBP5.4 million 
 

Commenting on the Company's AIM listing, Zhang Congming, Chairman and Chief Executive Officer of Camkids, said: "The Board is delighted to have successfully completed the IPO and we are pleased to have raised funds to expedite the development of the Company. Camkids is an exciting business with a strong position in a fast growing market, and we look forward to working alongside our new shareholders in the UK and Asia."

- Ends -

For further information:

 
 Camkids Group plc 
 Zhang Congming, Chairman and Chief Executive   Tel: [phone] 
  Officer                                                       7709 
 Ng Pei Eng, Chief Finance Officer                www.camkids.com.cn 
 
 
 Allenby Capital Limited 
 Alex Price / James Reeve / Nick Athanas     Tel: [phone] 
                                                             5656 
 [e-mail]                www.allenbycapital.com 
 

Media enquiries:

 
 Abchurch Communications Limited 
 Henry Harrison-Topham / Joanne Shears     Tel: [phone] 
                                                           7709 
 [e-mail]        www.abchurch-group.com 
 

Notes to Editors

Camkids is a leading Chinese designer, manufacturer and distributor of branded outdoor clothing, footwear and equipment for children and teenagers.

Based in Fujian province in China, the Group focuses on teenage sportswear for outdoor activities, combining functionality and innovation. The products are mid-range price based, targeting mid and high range markets within China.

The three main product areas are:

-- Camkids outdoor clothing - all weather jackets, waterproof trousers, shirts, tops and T-shirts, woollen sweaters, jeans, trousers shorts and skirts;

   --     Camkids footwear - hiking boots, outdoor leisure footwear, flip-flops, sandals and boots 

-- Camkids equipment and accessories - telescopes, backpacks, technical packs, tents, sleeping bags, headgear, caps, kettles, headlights and torches.

The Group designs its entire product range and manufactures the majority of its footwear. Outdoor apparel and accessories are currently manufactured by third party OEMs.

The children and teenagers outdoor and sportswear market is currently worth RMB10.9 billion in annual sales and is forecast to grow at a CAGR of 16.9%* between 2012 and 2016. The Group currently has an 11.1%* market share by total sales volume.

Camkids' primary route to market for the sale of its products is through its network of distributors. The Group has established an extensive distribution network across 29 provinces, 4 municipalities and 5 autonomous regions within the PRC. As at 30 June 2012, the Group had 15 authorised distributors operating over 1,000 retail outlets.

In 2010, Camkids was recognised as one of the top ten children's shoe brands at the China Shoe Industry Summit Forum and in September 2012 was included as one of the top 500 brands in Asia.

Directors

The Board consists of three executive directors and three non-executive directors:

Zhang Congming (aged 54), Executive Chairman

Mr Zhang is the Executive Chairman of the Company and is primarily responsible for the Group's overall strategies, planning and business development. Mr Zhang has more than 25 years of experience in the apparel and footwear industry and founded the business from his own savings in 1994. Mr Zhang was responsible for leading the Group's successful transformation from an OEM/ODM manufacturer to a local apparel and footwear manufacturer and distributor. In 2008, Mr Zhang was elected as Jinjiang City's Deputy of National People Congress and he was re-elected for a further four year term in 2011. Since 2002, Mr Zhang has been the vice president of the Association of Fujian Province Shoe Industry. Mr Zhang has been a committee member of Jinjiang City Industry and Commerce Commission since 2008. Mr Zhang served in the Chinese military between 1976 and 1981 and then, after a brief period in farming, became a salesman for a shoes and apparel company. From October 2012 Mr Zhang will serve as the first President of a newly established R&D committee for children's shoes in Fujian.

Ng Pei Eng (aged 39), Chief Finance Officer

Ms Ng joined the Group in April 2012 as the Company's Chief Financial Officer and is responsible for overseeing the Group's financial reporting obligations. Ms Ng graduated with a Diploma in Accountancy from Ngee Ann Polytechnic, Singapore in 1993. Ms Ng has been a Fellow Member of the Association of Chartered Certified Accountants in the United Kingdom since 2001 and a Member of the Institute of Certified Public Accountants of Singapore since 2000. Prior to joining the Company, Ms Ng was the CFO of China Stationery Limited, a Malaysian Main Market listed company, and was responsible for guiding it through the majority of the IPO process. Ms Ng is fluent in both English and Mandarin.

Hong Qinming (aged 26), Sales and Marketing Director

Mr Hong is responsible for the overall sales and marketing of the Group's products. Mr Hong joined

the Group in February 2011 as the Head of the apparels department and was subsequently promoted to the Head of the Group's sales and marketing department in November 2011. Prior to joining the Group, Mr Hong started his career as an investment analyst in investment consulting company, Xiamen Fushi Investment Co., Ltd, where he worked from 2008 to 2010. Thereafter he joined Wenke Sports Limited's Xian Branch as operations manager. Mr Hong received his bachelor's degree in business management from Fujian Jimei University in 2008.

Jacques-Franck Dossin (aged 52), Non-Executive Director

Mr Dossin has over 25 years' experience in the finance industry, primarily as an equity research analyst specialising in the Branded Consumer Goods sector. Mr Dossin spent 12 years at Goldman Sachs, London, where he was in charge of the Branded Consumer Goods industries and was the co-ordinator for the industry on a worldwide basis and was consistently ranked among the top 3 analysts globally according to leading independent surveys. Prior to Goldman Sachs, Mr Dossin was Head of French Equity Research at Credit Suisse First Boston for five years and prior to that he was Head of Consumer Goods Research at Société Générale-Delahaye for six years. Following his time at Goldman Sachs, Mr Dossin founded Dossin Advisory, a Mergers & Acquisitions boutique specialising in the Branded Consumer Goods sector.

Mr Dossin is the Chairman of the Group's audit committee and a member of the remuneration

committee.

Richard Sweet (aged 52), Non-Executive Director

Mr Sweet has over 25 years' experience in the retail industry, primarily in the clothing sector. He initially worked for Selfridges plc and then worked for over 20 years at Marks and Spencer plc up until 2009, with 10 years in buying and merchandising, including children's footwear, and with extensive experience of procurement from China and the Far East. Mr Sweet was Head of International Franchise for Marks and Spencer and managed franchised stores across Europe, the Middle East and Asia. Most recently Mr Sweet was Managing Director of Marks and Spencer China, where he was responsible for leading the market analysis and entry strategy for the group in China and this led him to live in Shanghai for 3 years. Mr Sweet is currently the Managing Director for the commercial arm of the UK charity Shelter, where he is responsible for their trading activities and manages over 120 stores in the UK.

Mr Sweet is the Chairman of the Group's remuneration committee and a member of the audit

committee.

Mircle Yap (aged 35), Non-Executive Director

Mr Yap has over 10 years' experience in the finance industry, primarily in South East Asia as director and investment adviser. Mr Yap currently works as a strategic investment adviser for One Capital Group Investment Ltd where he is responsible for developing strategies and implementing the organisation's financial plans. Prior to working at One Capital Group Investment Ltd, Mr Yap was a strategic investment adviser at Quarto Capital LLC from 2007 to 2011. Previously Mr Yap was an executive director at Exalt Global Investment & Co.

Mr Yap is a member of the Group's audit and remuneration committee.

For more information please visit www.camkids-ir.com.

*Source: Euromonitor International

This information is provided by RNS

The company news service from the London Stock Exchange

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