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Xpediator joins AIM

By BFN News | 09:17 AM | Friday 11 August, 2017


Xpediator, a provider of freight management services across the UK and Europe, has started trasing on AIM. Xpediator is the holding company for the Xpediator Group which trades under several brands. The original business, trading as Delamode, was established in 1988 by Stephen Blyth (the group's chief executive officer), providing freight forwarding services in the UK. The group has since evolved into an integrated freight management business operating in the supply chain logistics and fulfilment sector across the UK and Europe with a particular focus on, and expertise in, Central and Eastern European (CEE) countries. A total of £5 million was raised pursuant to the placing of 20,833,333 new ordinary shares with institutional and other investors at the placing price of 24 pence per share. The market capitalisation of Xpediator on admission is £24.2 million (based on the placing price). The net proceeds raised by the company will principally be used to execute the group's acquisition strategy but also to accelerate the group's organic growth plans. In the year to 31 December 2016, Xpediator, on a proforma basis including the recently acquired EMT, generated revenues of £76.3 million and operating profit before exceptional items of £3.5 million. At 9:17am: (LON:XPD) share price was +25p at 25p Story provided by StockMarketWire.com

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