First Day of Dealings
Cohort PLC
08 March 2006
For Immediate Release 8 March 2006
Not for release, publication or distribution in, or into, the United States,
Canada, Australia, Japan and the Republic of South Africa
Cohort PLC
('Cohort' or the 'Company')
First day of Dealings on AIM
Cohort is pleased to announce the commencement of trading in its shares on AIM.
The ordinary shares will trade on AIM under the RIC code 'CHRT'.
Cohort has been established to capitalise on opportunities to grow, both
organically and through acquisition, in the defence technical services market.
The directors of Cohort believe that the accessible UK market for such services
is large and offers scope for expansion, whilst a portion of the supplier base
is fragmented and provides opportunities for consolidation. Cohort will seek to
make targeted acquisitions of complementary businesses.
Cohort's sole initial trading subsidiary, Systems Consultants Services Limited
('SCS'), is a leading independent defence technical services business based in
Henley-on-Thames, Oxfordshire in the United Kingdom. SCS provides a range of
technical services to clients in the defence and security sectors, its principal
client being the UK Ministry of Defence ('MOD') and its agencies. Its other
clients include other UK government departments, NATO, major defence contractors
and non-defence businesses.
Investec Investment Banking and Securities is acting as Nominated Adviser and
Broker to the Company.
Placing Statistics
Placing Price 123 pence
Total Placing £9.5
million
Total number of New Ordinary Shares being placed on behalf of the
Company 4,065,041
Total number of Sale Shares to be sold pursuant to the Placing 3,669,105
Number of New Ordinary Shares to be issued under the Employee
Share Offer 217,976
Number of Ordinary Shares in issue immediately following the
Placing and Admission 22,121,497
Market capitalisation at the Placing Price immediately following
Admission £27.2
million
Net proceeds of the Placing receivable by the Company £4.1
million
For further information please contact:
Cohort PLC 020 7190 1705
Nick Prest, Chairman
Investec 020 7597 5970
Michael Ansell, Martin Smith
Gainsborough Communications 020 7190 1705
Andy Cornelius/Julian Walker
The Company accepts responsibility for the information contained in this
announcement. To the best of the knowledge and belief of the Company (which has
taken all reasonable care to ensure that such is the case) the information
contained in this announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.
Investec Investment Banking, a division of Investec Bank (UK) Limited, which is
authorised and regulated by the Financial Services Authority and is a member of
the London Stock Exchange, is acting exclusively for Cohort in connection with
the proposed admission to AIM and placing and is not acting for any person other
than Cohort. Investec Investment Banking will not be responsible to any person
other than Cohort for providing the protections afforded to its customers, in
relation to these matters, the contents of this announcement or any other matter
referred to in this announcement.
The subject matter of this announcement is directed only (i) at persons who are
in the United Kingdom and have professional experience in matters relating to
investments falling within Article 19(1) of the Financial Services and Markets
Act 2000 (Financial Promotion) Order 2005 and (ii) to persons to whom it may
otherwise be lawful to distribute it (all such persons together being referred
to as 'relevant persons'). This announcement must not be acted on or relied on
by persons who are not relevant persons. Any investment or investment activity
to which this announcement relates is available only to relevant persons and
will be engaged in only with relevant persons.
This announcement does not constitute an offer of, or the solicitation of any
offer to buy, any of the ordinary shares which are proposed to be offered to any
person in any jurisdiction to whom or in which such offer or solicitation is
unlawful. The distribution of this announcement in certain jurisdictions may be
restricted by law and therefore persons into whose possession this announcement
comes should inform themselves about and observe any such restrictions. Any
failure to comply with these restrictions may constitute a violation of the
securities laws of such jurisdiction. The ordinary shares which are proposed to
be offered have not been, nor will they be, registered under the United States
Securities Act of 1933 (as amended) (the 'Securities Act') and may not be
offered or sold, directly or indirectly, in or into the United States absent
registration or an exemption from registration. There will be no public offer
of securities in the United States or any other jurisdiction.
This announcement does not constitute or form part of an offer, or any
solicitation of an offer, for securities and any purchase or application for
shares in the placing should only be made on the basis of information contained
in the formal AIM admission document issued by the Company in connection with
the Placing.
This information is provided by RNS
The company news service from the London Stock Exchange
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