![](/cdn/assets/images/search/clock.png)
We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Utilitywise | LSE:UTW | London | Ordinary Share | GB00B6WVD707 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.903 | 1.806 | 2.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMUTW
RNS Number : 1315F
Utilitywise plc
12 June 2012
Utilitywise plc
("Utilitywise" or the "Company")
First Day of Dealings
Utilitywise plc, a leading independent utility cost management consultancy based in South Shields, Tyne and Wear, is pleased to announce the admission today of its ordinary shares ("Ordinary Shares") to trading on the AIM market of the London Stock Exchange ("AIM") and the commencement of dealings in its ordinary shares under the ticker UTW ("Admission").
Utilitywise has raised GBP6.86 million before expenses through a placing of 11,425,842 new Ordinary Shares at a placing price of 60p per Ordinary Share ("Placing"). At the Placing price, Utilitywise has a market capitalisation of GBP36.9 million.
finnCap are Nominated Adviser and Broker to the Company and Hub Capital Partners are financial advisers.
About Utilitywise
The Company was founded in 2006 and has since established itself as a leader in energy procurement and energy management services. It has established trading relationships with a number of major UK energy suppliers and provides services to its customers designed to assist them in achieving:
-- better value from their energy contracts -- reduced energy consumption -- lower carbon footprint
Utilitywise has achieved strong growth to date. The Directors believe that this growth has been achieved as a result of its focus on three key areas:
-- investment in IT infrastructure -- focus on business process management -- development of its energy management products and services
Utilitywise operates from headquarters in South Shields and currently employs around 230 staff across its operations.
Use of proceeds
The proceeds of the placing will provide the Company with the opportunity to grow further organically, particularly through increasing headcount and in further developing the Company's energy management products and services. In addition, the Directors have identified a number of potential acquisition targets which they believe would offer either increased volume in the energy procurement business or good synergies with the Company's products and services.
The Directors also intend to continue to explore opportunities to expand in overseas markets, with an initial focus on France and Germany.
Current Trading
Utilitywise has grown strongly over the last three years and the trend is continuing. In the six months to 31 January 2012, revenues were 52 per cent ahead of the same period in 2011. The Directors are continuing to see strong growth in the year to date and look forward to the future with confidence.
Geoff Thompson, Chief Executive, of Utilitywise, commented:
"We are delighted to have received such strong support and welcome some major institutions as shareholders in our Company. Since 2006 we have helped thousands of UK businesses to not only find the best energy tariff to suit them but also to help them manage their energy consumption much more effectively and lower their carbon footprint.
"We have invested heavily over the years in our proprietary IT infrastructure and unique products which highlight energy inefficiencies and enable our customers to make significant savings on their energy spend. The additional funds that we have raised will allow us to increase our headcount and thereby reach a greater audience, consider complimentary acquisitions and also look to certain European markets where recent deregulation presents real opportunities.
"This is a very exciting time for Utilitywise. With strong revenue visibility, a unique product offering backed up by our own proprietary IT and our outstanding employees, the Board look to the future with great confidence."
For further information:
Utilitywise 0870 626 0559
Geoff Thompson, CEO
Andrew Richardson, CFO
Adam Thompson, COO
finnCap (NOMAD and broker) 0207 220 0500
Sarah Wharry / Charlotte Stranner / Henrik Persson
Corporate Finance
Simon Johnson
Corporate Broking
Newgate Threadneedle 020 7653 9850
Josh Royston / John Coles / Hilary Millar
Hub Capital Partners 020 7535 1710
Stephen Bourne
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCBUGDLIXBBGDB
1 Year Utilitywise Chart |
1 Month Utilitywise Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions