First Day of Dealings on AIM
March 04 2010 - 3:01AM
UK Regulatory
TIDMDGB
RNS Number : 0454I
Digital Barriers plc
04 March 2010
4 March 2010
DIGITAL BARRIERS PLC
First Day of Dealings on AIM
Summary
Digital Barriers plc ("Digital Barriers" or the "Company"), a newly-incorporated
company, focused on the provision of specialist products and services to the
homeland security market, is pleased to announce the commencement of trading in
its shares on AIM (ticker symbol DGB).
The Company has also raised GBP20.0 million (before expenses) in a placing of
20,000,000 Ordinary Shares (the "Placing"). On admission and at the placing
price of 100 pence per share, Digital Barriers is expected to have a market
capitalisation of approximately GBP24.8 million.
Given the ongoing threat to the UK from international and domestic terrorism,
the Directors believe that the homeland security market continues to represent a
compelling commercial opportunity and, accordingly, they intend to develop
Digital Barriers through strategic acquisitions and ongoing organic growth.
Their intention is for the Company to become a mid-market specialist, working
directly with end-customers and internationally through key partner
organisations, to provide focused, proportionate and effective solutions for the
protection of high-profile targets, crowded spaces and the critical national
infrastructure.
Investec Investment Banking, a division of Investec Bank plc, is the nominated
adviser and broker to Digital Barriers.
Placing details
+-----------------------------------------+--------------------+
| Placing Price | 100 pence |
+-----------------------------------------+--------------------+
| Number of ordinary shares in issue on | 24,782,500 |
| admission | |
+-----------------------------------------+--------------------+
| Net proceeds of the Placing receivable | GBP19.0 million |
| by the Company | |
+-----------------------------------------+--------------------+
| Percentage of the enlarged share | 80.7 per cent |
| capital placed | |
+-----------------------------------------+--------------------+
| Market capitalisation of the Company | GBP24.8 million |
| following the Placing at the Placing | |
| Price immediately following admission | |
+-----------------------------------------+--------------------+
Tom Black, Executive Chairman, commenting on the Admission, said:
"At present, the most significant threat to our security comes not from
state-to-state conflict, but from international and domestic terrorism,
specifically attacks on crowded public spaces, high-profile targets and the
critical national infrastructure. To effectively protect these locations we must
ensure they appear hostile to a potential terrorist attack. The IPO of Digital
Barriers provides us with an exciting opportunity to develop a business that can
provide this homeland security market with specialist products and services to
do just that.
We are delighted by the level of interest the Placing has received and the
calibre of institutions which have made commitments of long-term capital to the
Company. We are particularly encouraged that investors are as excited by this as
we are. We believe that the homeland security market represents a compelling
commercial opportunity, and our team look forward to implementing the first
phase of our strategy in the coming months."
For further details
+-----------------------------------+----------------+
| Digital Barriers plc | 020 7940 4740 |
+-----------------------------------+----------------+
| Tom Black, Executive Chairman | |
+-----------------------------------+----------------+
| Colin Evans, Managing Director | |
| | |
+-----------------------------------+----------------+
| | |
+-----------------------------------+----------------+
| Investec Investment Banking | 020 7597 5970 |
+-----------------------------------+----------------+
| Andrew Pinder/Erik Anderson | |
| | |
+-----------------------------------+----------------+
| | |
+-----------------------------------+----------------+
| Financial Dynamics | 020 7831 3113 |
+-----------------------------------+----------------+
| Edward Bridges/Matt Dixon | |
+-----------------------------------+----------------+
Disclaimer
The contents of this communication, which have been prepared by and are the sole
responsibility of Digital Barriers plc, have been approved by Investec
Investment Banking, a division of Investec Bank plc ("Investec") solely for the
purposes of section 21(2)(b) of the Financial Services and Markets Act 2000.
Investec, which is authorised and regulated in the United Kingdom by the
Financial Services Authority, is acting exclusively for Digital Barriers plc in
connection with the proposed admission of the Company to trading on the AIM
market of the London Stock Exchange plc and is not acting for any person other
than Digital Barriers plc and will not be responsible to any other person than
Digital Barriers plc for providing the protections afforded to its customers or
for providing advice to any other person in connection with the proposed
admission to trading.
This announcement shall not, and no part of it shall, constitute or form part of
any offer for sale or subscription, or any solicitation of any such offer, nor
shall it, or any part of it, form the basis of or be relied upon in connection
with any contract or commitment whatsoever. Any eventual acquisition of, or
application for, shares in Digital Barriers plc should be made solely on the
basis of information contained in a formal admission document relating to
Digital Barriers plc issued in connection with its proposed admission to
trading. The price and value of, and income from, shares may go down as well as
up. Persons needing advice should consult a professional adviser.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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