First Day of Dealings on AIM

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 £20.0 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 £24.8 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 admission	24,782,500
Net proceeds of the Placing receivable by the Company	£19.0 million
Percentage of the enlarged share capital placed	80.7 per cent
Market capitalisation of the Company following the Placing at the Placing Price immediately following admission	£24.8 million

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

 

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