AIM Admission - Update

RNS Number : 9960O

Gear4music (Holdings) PLC

03 June 2015

 



NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION DIRECTLY OR INDIRECTLY IN, INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, SOUTH AFRICA OR JAPAN OR IN, INTO OR FROM ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION

FOR IMMEDIATE RELEASE                                                                                                                     3 June 2015

Gear4music (Holdings) plc

("Gear4music", the "Company" or the "Group")

Admission to trading on AIM

Gear4music, one of the largest UK based online retailers of musical instruments and music equipment, announces that its entire issued share capital, comprising 20,156,339 ordinary shares of 10p each, will today be admitted to trading on the AIM Market of London Stock Exchange plc, under the EPIC code "G4M". It is expected that Admission will become effective and that dealings will commence at 8.00 a.m. 

The net proceeds from the Placing of approximately £9.0 million will be used to:

·     Develop further Gear4music's bespoke ecommerce platform;

·     Invest in additional marketing initiatives;

·     Extend the range of products;

·     Open a flagship showroom in London; and

·     Pay down debt.

The Company's AIM admission document can be viewed at www.gear4musicplc.com.

Andrew Wass, Chief Executive Officer of Gear4music said:
"We have been thrilled by the investor enthusiasm and support for our admission to AIM and are very excited about beginning the next chapter in our development.  I would like to take this opportunity to welcome our new shareholders and look forward to updating them and the wider market on our continued progress as we look to build on our strong track record of growth."

-ENDS-

For further information please contact

Gear4music                                                                                                                                        [phone]

Andrew Wass, Chief Executive Officer

Chris Scott, Chief Financial Officer

Panmure Gordon                                                                                                                            [phone]

(Financial Adviser, Nominated Adviser and Broker)

Fred Walsh / Peter Steel / Richard Tunney - Investment Banking

Erik Anderson / Tom Salvesen - Corporate Broking

MHP Communications(Financial PR)                                                                                     [phone]

Andrew Leach / James White / Simon Hockridge / Charlotte Coulson

Capitalised terms used in this announcement have the same meanings as defined in the Company's AIM admission document unless otherwise stated.

 

END

 

 

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