Ashtead Technology Holdings plc Admission to AIM and First Day of Dealings (1833T)

TIDMAT.

RNS Number : 1833T

Ashtead Technology Holdings plc

23 November 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.

This announcement is not a prospectus (or prospectus equivalent) and not an offer of securities for sale nor a solicitation of an offer to acquire or a recommendation to sell or buy securities in any jurisdiction, including in or into the United States, Canada, Australia, Japan, Hong Kong or the Republic of South Africa.

Neither this announcement, nor anything contained or referred to herein shall form the basis of, or be relied upon in connection with, any offer or commitment whatsoever in any jurisdiction. Investors should not subscribe for or purchase any ordinary shares ("Ordinary Shares") in Ashtead Technology Holdings plc, (the "Company") referred to in this announcement except on the basis of information contained in the final admission document (the "Admission Document") published by the Company (the Company, together with its subsidiaries and subsidiary undertakings, "Ashtead Technology" or the "Group") in connection with the placing ("Placing") of new and existing Ordinary Shares and admission of all of its Ordinary Shares, issued and to be issued to trading on AIM ("AIM"), a market operated by London Stock Exchange plc (the "London Stock Exchange") ("Admission"). Copies of the Admission Document are available for inspection on the Company's website at www.ashtead-technology.com, subject to certain exceptions.

Ashtead Technology Holdings plc

ADMISSION TO TRADING ON AIM AND FIRST DAY OF DEALINGS

Ashtead Technology Holdings plc, a leading subsea equipment rental and solutions provider for the global offshore energy sector, is pleased to announce the admission of its entire issued and to be issued share capital to trading on the AIM market of the London Stock Exchange. Admission will take place and dealings will commence at 8.00 a.m. today under the ticker "AT." and ISIN GB00BLH42507.

The Company's Admission Document is available to view on the Company's website at https://www.ashtead-technology.com/ .

Numis Securities Limited is acting as Nominated Adviser and Sole Bookrunner in relation to Admission.

Allan Pirie, Chief Executive Officer, commented:

"Today marks another exciting milestone in the evolution of Ashtead Technology. As a newly listed company, we plan to continue to grow and strengthen our core business in subsea technology rental and solutions both organically and through acquisition further broadening our range of complementary equipment and services and expanding our geographic presence. We are delighted to welcome our new shareholders and look forward to serving them as we continue to execute our growth strategy."

For further information, please contact:

 
 Ashtead Technology                                    Via Engine MHP 
 Allan Pirie, Chief Executive Officer 
 Ingrid Stewart, Chief Financial Officer 
 
 Engine MHP (Financial PR)                   Tel: [phone] 
 Peter Hewer                               [e-mail] 
 Charlie Barker 
 Robert Collett-Creedy 
 
 Numis Securities Limited (Nomad and         Tel: [phone] 
  Sole Bookrunner) 
 Julian Cater 
 George Price 
 Jonny Abbott 
  Kevin Cruickshank (QE) 
 
 

Notes to editors:

Ashtead Technology is a leading subsea equipment rental and solutions provider for the global offshore energy sector. Ashtead Technology's specialist equipment, advanced-technologies and support services enable its customers to understand the subsea environment and manage offshore energy production infrastructure.

The Company's service offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure. Headquartered in the UK, the Company operates globally, servicing customers from its nine international customer service hubs.

In the fast-growing offshore wind sector, Ashtead Technology's specialist equipment and services are essential through the project development, construction and installation phase. Once wind farms are operational, Ashtead Technology supports customers with inspection, maintenance and repair ("IMR"). In the more mature oil and gas sector, Ashtead Technology's focus is on IMR and decommissioning.

Following the participation of Bill Shannon in the IPO, the revised directors' holdings in the Group are set out below:

 
 Shareholder       % of Issued Share 
                        Capital 
 Allan Pirie             2.7% 
                  ------------------ 
 Ingrid Stewart          0.4% 
                  ------------------ 
 Joe Connolly            0.2% 
                  ------------------ 
 Bill Shannon            0.1% 
                  ------------------ 
 

IMPORTANT NOTICES:

This announcement does not constitute or form part of any offer for sale or subscription or any solicitation of any offer to buy or subscribe for any securities and neither this announcement nor any part of it forms the basis of or may be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

The information contained in this announcement is for background purposes only and does not purport to be full or complete, nor does this announcement constitute or form part of any invitation or inducement to engage in investment activity. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The contents of this announcement are not to be construed as legal, financial or tax advice.

This announcement is not for publication or distribution, directly or indirectly, in or into the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Japan. Hong Kong, the Republic of South Africa or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.

The securities referred to in this document have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States except on the basis of an applicable exemption from registration, or in a transaction not subject to, the registration requirements of the Securities Act. There will be no public offering of securities in the United States.

This document contains statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Group's control and all of which are based on the Directors' current beliefs and expectations about future events. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including, without limitation, the terms "anticipates", "believes", "could", "envisages", "estimates", "expects", "intends", "may", "plans", "projects", "should", "will" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements relate to matters that are not historical facts. They include statements regarding the intentions, beliefs and current expectations of the Company or the Directors concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth and strategies of the Company and the industry in which the Group operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The actual results, performance or achievements of the Company or developments in the industry in which the Group operates may differ materially from the future results, performance or achievements or industry developments expressed or implied by the forward-looking statements contained in this document.

These forward-looking statements and other statements contained in this document regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Group. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements.

Each of the Company and Numis Securities Limited, and their respective affiliates, expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this announcement and disclaims any obligation to update its view of any risks or uncertainties described herein or to publicly announce the results of any revisions to the forward-looking statements made in this announcement, whether as a result of new information, future developments or otherwise, except as required by law.

Neither Numis Securities Limited, nor any of its affiliates, directors, officers or employees, advisers, agents or any other person accepts any responsibility or liability whatsoever for the contents of, or makes any representations or warranties, express or implied, as to the accuracy, fairness or completeness of the information presented or contained in this announcement (or whether any information has been omitted from this announcement) or any other information relating to the Company, its subsidiaries and their associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, Numis Securities Limited, and its affiliates, directors, officers or employees, and any other person acting on their behalf expressly disclaims, to the fullest extent possible, any and all liability whatsoever for any loss howsoever arising from, or in reliance upon, the whole or any part of the contents of this announcement, whether in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.

Numis Securities Limited is acting exclusively for the Company and no one else in connection with this Announcement. They will not regard any other person as their respective clients in relation to the possible Admission and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, nor for providing advice in relation to the contents of this announcement or any transaction, arrangement or other matter referred to herein.

Numis Securities Limited is authorised and regulated by the Financial Conduct Authority in the United Kingdom.

For the avoidance of doubt, the contents of the Company's website are not incorporated by reference into, and do not form part of, this announcement.

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November 23, 2021 02:00 ET (07:00 GMT)