First Day of Dealings

RNS Number : 6091S

iEnergizer Limited

14 September 2010

 



Embargoed for 08.00 - 14 September 2010

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

iEnergizer Limited

Admission to trading on the AIM market of the London Stock Exchange

iEnergizer Limited ("iEnergizer" or the "Company" and together with its subsidiaries, the "Group"), the international and full service BPO business is pleased to announce that its entire issued ordinary share capital of 31,930,706 shares has today been admitted to trading on the AIM market of the London Stock Exchange. Arden Partners placed approximately £37 million founder shares with a range of UK institutional investors at the placing price of 116p per share; giving a market capitalisation of approximately £174 million. The shares will trade under the ticker "IBPO".

Anil Aggarwal, Chief Executive and founder of iEnergizer, said:

"I am very pleased to announce the commencement of trading of the Company's shares on the London Stock Exchange. Floating in these difficult markets is an endorsement of our team and of our track record of delivery, financial performance and growth.

"The fact that we are now quoted in London will help to raise the Company's profile internationally and help diversify its shareholder base. In addition it will help us to further incentivise our staff, who are key to our continued success. We welcome and very much appreciate the support from our new shareholders. I look forward to updating the market as to the Company's progress as and when appropriate."

For further information regarding iEnergizer, please call:

iEnergizer Anil Aggarwal, CEO	c/o FD 020 7831 3113
Arden Partners, Nomad and Broker Richard Day/ Adrian Trimmings	020 7614 5917
FD Jonathon Brill / Edward Westropp	020 7831 3113

www.ienergizer.com

Notes to editors on iEnergizer

iEnergizer is a full service BPO offering, across a range of sectors and countries

·    Primary sectors:

o  Banking, financial services and insurance

o  Entertainment

o  Telecommunications     

·    Operating from six delivery centres in India and one in the US.

·    Clients are predominantly US, Indian and Australian blue chip corporations including investment and commercial banks, leading diversified financial services companies, healthcare insurance companies, mortgage houses, utilities, and on-line games and entertainment companies.

·    Typically 80% of work is non-voice which provides more specialised and higher margin services.

Strong financial track record of delivery- purely organic growth to date

·    Original business founded in 2000.

·    Revenues for the year ended 31 March 2010 were approximately US $34m.

·    CAGR of 33% achieved by the original business between 2003 and 2010.

·    Practically debt free.

·    Management propose to pursue to a progressive dividend policy following admission.

·    2010 proforma EBITDA margin of 34%.

Established operations across a range of sectors, servicing a range of blue chip global businesses

·      Deep relationships have been developed with customers.

·      Services provided are often business critical.

·      Large diversified client base of more than 40 clients and end users across the world.

·      Active in the domestic BPO sector, thereby closely aligned to the strong growth dynamics in the Indian economy.

·      Established provider of third-party process solutions to the online-games industry servicing major players in the sector.

Board of Directors

·      Anil Aggarwal, CEO and founder of the business. Anil is primarily responsible for business development, strategy and overall growth of the Company.

·      Sara Latham, Non-Executive Chairman, former communications adviser to former President Clinton and former PM Tony Blair with over a decade of experience in strategic communications and public affairs.

·      John Behar, Independent Non-Executive Director, with over 14 years' financial services and investment banking. Mr Behar is the Chief Executive of PL Capital and a non-executive Director for Indus Gas Limited, the London listed oil and gas company with assets in Rajasthan.

 

END

 

 

MSCEAKNDFLKEEFF