REG - AIM Advancedadvt Limited - Schedule One - AdvancedAdvT Limited

AdvancedAdvTAnnouncement

22/12/2023 08:00

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RNS Number : 6739X  AIM  22 December 2023

 

 ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE
 WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

 COMPANY NAME:
 AdvancedAdvT Limited

 (the "Company", and its subsidiaries from time to time being the "Group")
 (AIM: ADVT)

 COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS
 (INCLUDING POSTCODES) :
 Commerce House

 Wickhams Cay 1

 P.O. Box 3140, Road Town

 VG1110

 Tortola

 British Virgin Islands

 11 Buckingham Street

 London

 WC2N 6DF

 United Kingdom

 COUNTRY OF INCORPORATION:
 British Virgin Islands

 COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:
 www.advancedadvt.com (http://www.advancedadvt.com)

 COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN
 INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS
 SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE
 STATED:

 The Company was incorporated on 31 July 2020 in accordance with the laws of
 the British Virgin Islands with an indefinite life and is domiciled in the
 United Kingdom (i.e. the Company is tax resident in the United Kingdom by
 virtue of being centrally managed and controlled in the United Kingdom). The
 Company was admitted to trading on the standard listing segment of the
 Official List of the London Stock Exchange on 4 December 2020.

 The Group's strategy is centred around backing sectors characterised by long
 term digitisation trends, that are in early stages of adoption and set to
 transform the workplace for professionals for the next few decades. Embracing
 a long-term perspective, the aim is to build a lasting and thriving business.
 This thinking shapes how investment is deployed on both M&A and within the
 platform businesses, in order to develop relationships with clients and
 partners and with a strategy centred around business and digital
 transformation and continuous improvement.

 This strategy revolves around evaluating high-quality businesses in the
 pipeline, based on a set of key characteristics. These characteristics align
 with the management team's vision and will enable businesses to consistently
 generate long-term value. The Company seeks businesses with:

 •           high recurring revenue streams and good forward
 visibility;

 •           sticky customer retention;

 •           mission critical products and services;

 •           sectors with high barriers to entry;

 •           opportunities for both organic and inorganic growth;

 •           strong cash generation; and

 •           highly fragmented industries with opportunities for
 consolidation.

 On 8 June 2023, the Company announced the conditional agreement to acquire 5
 companies from Capita plc for a combined enterprise value of approximately
 £33 million in cash. In addition to organic growth, the Board believes that
 the acquisitions will create a platform to develop the Company by exploring
 growth opportunities in synergistic sectors and by targeted investment and
 M&A activities. On 31 July 2023, the acquisitions had completed.

 On 21 November 2023, ADV Holding Group Limited, a subsidiary of the Company,
 entered into an agreement for the sale of one of the five companies acquired,
 Synaptic Software Ltd, to Fintel IQ Limited in order to enable the business to
 have a more strategically aligned owner. The disposal is conditional upon,
 inter alia, the approval of the change of ownership by the FCA.

 Subsequent to the disposal, the four companies operate across two fundamental
 business transformational areas: business solutions and human capital
 management. Through these core specialisms, the Group delivers innovative
 software solutions and a platform that enables businesses and organisations to
 succeed in today's dynamic landscape whilst providing an enabler for digital
 transformation.

 DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER
 OF THE SECURITIES (i.e. where known, number and type of shares, nominal value
 and issue price to which it seeks admission and the number and type to be held
 as treasury shares):
 Name and nominal value of the securities: ordinary shares of no par value in
 the capital of the Company ("Ordinary Shares").

 Number of Ordinary Shares on Admission: 133,200,000

 Issue price per Ordinary Share: The Ordinary Shares were suspended from
 trading on 8 June 2023 at a price of 82 pence

 There are no restrictions as to the transfer of the Ordinary Shares.

 No Ordinary Shares will be held in treasury on Admission.

 CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED
 MARKET CAPITALISATION ON ADMISSION:
 Total capital to be raised on Admission: Nil

 Anticipated market capitalisation on Admission: c. £109 million (based on the
 pre suspension price of 82 pence per Ordinary Share)

 PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

 43.57%

 DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES
 (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:
 Not applicable.

 FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the
 first name by which each is known or including any other name by which each is
 known):

 Vinodka ("Vin") Murria OBE (Executive Chairperson)

 Gavin John Hugill (Chief Financial Officer)

 Karen Louise Chandler (Chief Operating Officer)

 Mark Irvine John Brangstrup Watts (Non-Executive Director)

 Paul David Gibson (Independent Non-Executive Director)

 Barbara Ann Firth (Senior Independent Non-Executive Director)

 FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE
 OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first
 name by which each is known or including any other name by which each is
 known):

Shareholder                             % of issued share capital prior to Admission  % of issued share capital on Admission
 Marwyn Investment Management            15.41%                                        15.41%
 BGF Investment Management Limited       15.02%                                        15.02%
 Vin Murria OBE & Sunil Bhalla           13.14%                                        13.14%
 Artemis Investment Management           8.07%                                         8.07%
 CRUX Asset Management                   6.19%                                         6.19%
 Amati Global Investors Limited          6.01%                                         6.01%
 Investec Wealth & Investment            5.30%                                         5.30%
 Gresham House Asset Management Limited  5.06%                                         5.06%
 Chelverton Asset Management Limited     4.50%                                         4.50%
 Canaccord Genuity Group Inc             3.34%                                         3.29%

 

 NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
 (H) OF THE AIM RULES:
 None.

 (i)         ANTICIPATED ACCOUNTING REFERENCE DATE

 (ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
 ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
 interim financial information)

 (iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
 PURSUANT TO AIM RULES 18 AND 19:

 (i)   30 June, but to be changed to 28 February from Admission (first period
 will be to 29 February 2024)

 (ii)  30 June 2023

 (iii) 31 March 2024 (unaudited interim results for the 6 months to 31 December
 2023)

 31 August 2024 (audited consolidated annual report for the eight months to 29
 February 2024)

 30 November 2024 (unaudited interim results for the 6 months ended 31 August
 2024)

 EXPECTED ADMISSION DATE:
 10 January 2024

 NAME AND ADDRESS OF NOMINATED ADVISER:
 Singer Capital Markets Advisory LLP

 1 Bartholomew Lane

 London

 EC2N 2AX

 NAME AND ADDRESS OF BROKER:
 Singer Capital Markets Securities Limited

 1 Bartholomew Lane

 London

 EC2N 2AX

 OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
 INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
 STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
 ADMISSION OF ITS SECURITIES:
 A copy of the Admission Document containing full details about the applicant
 and the admission of its securities will be available on the Company's website
 at:

 https://advancedadvt.com (https://advancedadvt.com)

 THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY
 The Quoted Companies Alliance (QCA) Corporate Governance Code.

 DATE OF NOTIFICATION:
 22 December 2023

 NEW/ UPDATE:
 NEW

 

 

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH
(H) OF THE AIM RULES:

None.

 

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE

(ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE
ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited
interim financial information)

(iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS
PURSUANT TO AIM RULES 18 AND 19:

 

(i)   30 June, but to be changed to 28 February from Admission (first period
will be to 29 February 2024)

 

(ii)  30 June 2023

 

(iii) 31 March 2024 (unaudited interim results for the 6 months to 31 December
2023)

 

31 August 2024 (audited consolidated annual report for the eight months to 29
February 2024)

 

30 November 2024 (unaudited interim results for the 6 months ended 31 August
2024)

 

EXPECTED ADMISSION DATE:

10 January 2024

 

NAME AND ADDRESS OF NOMINATED ADVISER:

Singer Capital Markets Advisory LLP

1 Bartholomew Lane

London

EC2N 2AX

 

NAME AND ADDRESS OF BROKER:

Singer Capital Markets Securities Limited

1 Bartholomew Lane

London

EC2N 2AX

 

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR
INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A
STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE
ADMISSION OF ITS SECURITIES:

A copy of the Admission Document containing full details about the applicant
and the admission of its securities will be available on the Company's website
at:

 

https://advancedadvt.com (https://advancedadvt.com)

 

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Quoted Companies Alliance (QCA) Corporate Governance Code.

 

DATE OF NOTIFICATION:

22 December 2023

 

NEW/ UPDATE:

NEW

 

 

 

 

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