Marshall Motor Holdings PLC Admission and First Day of Dealings (2789J)
April 02 2015 - 3:01AM
UK Regulatory
TIDMMMH
RNS Number : 2789J
Marshall Motor Holdings PLC
02 April 2015
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2 April 2015
Marshall Motor Holdings plc
("MMH", the "Company" or the "Group")
Admission to AIM and first day of dealings
Marshall Motor Holdings plc, one of the UK's leading automotive
retail and leasing groups representing a unique portfolio of
prestige and volume brands and with the highest brand coverage of
any dealer group in the UK, is pleased to announce that admission
took place and dealings in its ordinary shares commenced at 08.00am
today on the AIM market of the London Stock Exchange under the
ticker "MMH" ("Admission").
The net proceeds from Admission of approximately GBP36.9 million
will be used to:
-- Accelerate growth through funding of acquisition opportunities; and
-- Invest in the Group's existing operations including
investment in freehold opportunities, site upgrades and
redevelopments, and investment in the Group's website and
e-commerce capabilities.
The Company's AIM Admission Document can be found at
www.mmhplc.com
Daksh Gupta, CEO of MMH, commented:
"We have been delighted by the investor support for our
admission to AIM. Our IPO is the culmination of many months' hard
work and means Marshall Motor Holdings is well positioned to
deliver continued strong growth.
"I would like to take this opportunity to thank everyone
involved in our IPO, especially those internally at Marshall as
well as our advisers for their hard work throughout this process. I
would also like to thank our brand partners for their support to
date and we look forward to continuing to work closely
together.
"On behalf of everyone at MMH I would like to place on record
our gratitude for the support over more than 100 years of Marshall
of Cambridge. We look forward to continuing to work with them along
with all of our new shareholders.
"Today represents a significant milestone in our continued
development together. There are many exciting opportunities ahead
for MMH and all of our people."
For further information regarding Marshal Motor Holdings plc,
please call:
c/o Hudson Sandler +44 (0)20
Marshall Motor Holdings PLC 7796 4133
Peter Johnson, Non-Executive Chairman
Daksh Gupta, CEO
Mark Raban, CFO
Investec Bank plc (Sole Financial
Adviser, Sole Bookrunner, Nominated
Adviser & Broker) +44 (0)20 7597 4000
Christopher Baird
David Flin
David Anderson
Hudson Sandler +44 (0)20 7796 4133
Nick Lyon
Alex Brennan
Notes to Editors:
Marshall Motor Holdings plc ("MMH") is one of the UK's leading
automotive retail and leasing groups representing a unique
portfolio of prestige and volume brands and has the highest brand
coverage of any dealer group in the UK.
MMH comprises two integrated businesses that strongly complement
each other: Marshall Motors and Marshall Leasing.
The Group operates 71 franchise dealerships representing 24
different manufacturing brands in 16 different counties.
MMH is the only dealer group in the UK to represent all of the
top-five prestige brands (Audi, BMW, Mercedes-Benz, Land Rover and
Jaguar) and all of the top ten volume brands (Ford, Vauxhall,
Volkswagen, Nissan, Peugeot, Toyota, Citroen, Hyundai, Kia and
Skoda).
MMH has the highest brand coverage of any dealer group in the
UK, the collective market share of its portfolio of brand partners
amounting to 88%.
In 2014, MMH sold more than 57,000 new and used vehicles. In
2014, MMH generated turnover approaching GBP1.1 billion and
recorded profit before tax of GBP12.9 million.
The Group is headquartered in Cambridge, UK.
http://www.mmhplc.com/
http://www.marshallweb.co.uk/ /
http://marshall-leasing.co.uk/
This information is provided by RNS
The company news service from the London Stock Exchange
END
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