MRX Metalrax Group

    RNS Number : 3257V
  AIM
  27 May 2008
   


 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
           WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 COMPANY NAME:

 Metalrax Group PLC

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES) :

 Ardath Road 
 Kings Norton 
 Birmingham 
 B38 9PN 
 England 

 COUNTRY OF INCORPORATION:

 England and Wales

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

 www.metalraxgroup.co.uk

 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
 INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY).  IF THE ADMISSION IS
 SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
 STATED:

 Metalrax is a niche worldwide supplier of unique steel products to the
 consumer durables and specialist engineering sector which operates
 principally in the United Kingdom exporting to over 50 countries.

 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO
 TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares,
 nominal value and issue price to which it seeks admission and the number and
 type to be held as treasury shares):

 119,897,298 ordinary shares of 5p each

 CAPITAL TO BE RAISED ON ADMISSION (IF APPLICABLE) AND ANTICIPATED MARKET
 CAPITALISATION ON ADMISSION:

 No capital is to be raised on Admission to AIM. The current market
 capitalisation of the Company on the Official List of the London Stock
 Exchange is £27 million and is not expected to change on Admission

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

 0.80%

 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
 (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

 Not applicable

 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
 first name by which each is known or including any other name by which each
 is known):

 John Rawcliffe Airey Crabtree (Chairman and Non-Executive Director)
 Andrew John Richardson (Chief Executive Officer)
 Michael John Stock (Group Finance Director)
 John Kenneth Adcock (Non-Executive Director)
 Andrew Phillip Pearson (Non-Executive Director)
 Ian Hamilton Paling (Non-Executive Director)

 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
 OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the
 first name by which each is known or including any other name by which each
 is known):

 The Company is aware of the following shareholdings which as at 23 May 2008
 (being the last practicable date prior to this announcement), represent 3% or
 more of ordinary shares in the issued share capital of the Company before and
 after Admission.


 Arlington Capital Investors 9.11%
 Gartmore Investment Limited 5.74%
 Henderson 5.12%
 CK Coombs 5.11%
 AXA Framlington 4.96%
 Schroders 4.69%
 Lowland Investment Company 3.16%

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:

 Not applicable

 * ANTICIPATED ACCOUNTING REFERENCE DATE 
 * DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS
 BEEN PREPARED (this may be represented by unaudited interim financial
 information)
 * DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM
 RULES 18 AND 19:

 i) 31 December
 ii) Not applicable
 iii) 30 September 2008, 30 June 2009 and 30 September 2009

 EXPECTED ADMISSION DATE:

 Wednesday 25 June 2008

 NAME AND ADDRESS OF NOMINATED ADVISER:

 Arden Partners plc
 Nicholas House
 3 Laurence Pountney Hill
 London EC4R 0EU

 NAME AND ADDRESS OF BROKER:

 Arden Partners plc
 Nicholas House
 3 Laurence Pountney Hill
 London EC4R 0EU

 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
 INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
 STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
 ADMISSION OF ITS SECURITIES:

 Not applicable - Quoted applicant 

 DATE OF NOTIFICATION:

 27 May 2008

 NEW/ UPDATE:

 New

 QUOTED APPLICANTS MUST ALSO COMPLETE THE FOLLOWING:

 THE NAME OF THE AIM DESIGNATED MARKET UPON WHICH THE APPLICANT'S SECURITIES
 HAVE BEEN TRADED:

 The Official List of the London Stock Exchange

 THE DATE FROM WHICH THE APPLICANT'S SECURITIES HAVE BEEN SO TRADED:

 March 1964

 CONFIRMATION THAT, FOLLOWING DUE AND CAREFUL ENQUIRY, THE APPLICANT HAS
 ADHERED TO ANY LEGAL AND REGULATORY REQUIREMENTS INVOLVED IN HAVING ITS
 SECURITIES TRADED UPON SUCH A MARKET OR DETAILS OF WHERE THERE HAS BEEN ANY
 BREACH:

 Metalrax Group PLC, having made due and careful enquiry, confirms that as at
 the date hereof it has adhered to legal and regulatory requirements involved
 in having its securities traded on the Official List of the London Stock
 Exchange.

 AN ADDRESS OR WEB-SITE ADDRESS WHERE ANY DOCUMENTS OR ANNOUNCEMENTS WHICH THE
 APPLICANT HAS MADE PUBLIC OVER THE LAST TWO YEARS (IN CONSEQUENCE OF HAVING
 ITS SECURITIES SO TRADED) ARE AVAILABLE:

 www.metalraxgroup.co.uk 

 DETAILS OF THE APPLICANT'S STRATEGY FOLLOWING ADMISSION INCLUDING, IN THE
 CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING STRATEGY:

 It is the Directors intention that following the Admission to AIM the
 business of Metalrax will continue to operate in two divisions:- Consumer
 Durables and Specialist Engineering; focusing on businesses that operate in
 niche markets, have significant growth potential and barriers to entry and
 can be expected to contribute meaningful profits. Metalrax will continue to
 exit businesses that do not meet these criteria.

 A DESCRIPTION OF ANY SIGNIFICANT CHANGE IN FINANCIAL OR TRADING POSITION OF
 THE APPLICANT, WHICH HAS OCCURRED SINCE THE END OF THE LAST FINANCIAL PERIOD
 FOR WHICH AUDITED STATEMENTS HAVE BEEN PUBLISHED:

 Since the year to 31 December 2007 being the last financial period for which
 audited statements have been published, the Group has restructured its
 operations into two divisions; Specialist Engineering and Consumer Durables.
 In addition, in January 2008 Metalrax bought Post Glover Lifelink, Inc, a
 world leading manufacturer of isolated electrical power systems and
 electrical raceways for the medical, laboratory, and educational sectors for
 £3.0m and, in February 2008, Metalrax disposed of the Bacol Fine Blanking
 business for £0.5m in cash.

 A STATEMENT THAT THE DIRECTORS OF THE APPLICANT HAVE NO REASON TO BELIEVE
 THAT THE WORKING CAPITAL AVAILABLE TO IT OR ITS GROUP WILL BE INSUFFICIENT
 FOR AT LEAST TWELVE MONTHS FROM THE DATE OF ITS ADMISSION:

 The Directors are of the opinion, having made due and careful enquiry, that
 the Company has sufficient working capital for its present requirements, that
 is for at least twelve months from the date of Admission to AIM.

 DETAILS OF ANY LOCK-IN ARRANGEMENTS PURSUANT TO RULE 7 OF THE AIM RULES:

 Not applicable

 A BRIEF DESCRIPTION OF THE ARRANGEMENTS FOR SETTLING THE APPLICANT'S
 SECURITIES:

 Normal market settlement, including settlement through CREST 

 A WEBSITE ADDRESS DETAILING THE RIGHTS ATTACHING TO THE APPLICANT'S
 SECURITIES:

 www.metalraxgroup.co.uk

 INFORMATION EQUIVALENT TO THAT REQUIRED FOR AN ADMISSION DOCUMENT WHICH IS
 NOT CURRENTLY PUBLIC:

 Not applicable

 A WEBSITE ADDRESS OF A PAGE CONTAINING THE APPLICANT'S LATEST ANNUAL REPORT
 AND ACCOUNTS WHICH MUST HAVE A FINANCIAL YEAR END NOT MORE THEN NINE MONTHS
 PRIOR TO ADMISSION AND INTERIM RESULTS WHERE APPLICABLE. THE ACCOUNTS MUST BE
 PREPARED IN ACCORDANCE WITH ACCOUNTING STANDARDS PERMISSIBLE UNDER AIM RULE
 19:

 www.metalraxgroup.co.uk

 THE NUMBER OF EACH CLASS OF SECURITIES HELD IN TREASURY:  

 Nil




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The company news service from the London Stock Exchange
 
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