REG - Ashtead Tech Hldgs - Admission to AIM and First Day of Dealings

Ashtead Technology HoldingsAnnouncement

23/11/2021 07:00

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RNS Number : 1833T  Ashtead Technology Holdings plc  23 November 2021

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION DIRECTLY OR INDIRECTLY IN OR INTO
THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH
AFRICA OR JAPAN OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE
THIS ANNOUNCEMENT.

This announcement is not a prospectus (or prospectus equivalent) and not an
offer of securities for sale nor a solicitation of an offer to acquire or a
recommendation to sell or buy securities in any jurisdiction, including in or
into the United States, Canada, Australia, Japan, Hong Kong or the Republic of
South Africa.

Neither this announcement, nor anything contained or referred to herein shall
form the basis of, or be relied upon in connection with, any offer or
commitment whatsoever in any jurisdiction. Investors should not subscribe for
or purchase any ordinary shares ("Ordinary Shares") in Ashtead Technology
Holdings plc, (the "Company") referred to in this announcement except on the
basis of information contained in the final admission document (the "Admission
Document") published by the Company (the Company, together with its
subsidiaries and subsidiary undertakings, "Ashtead Technology" or the "Group")
in connection with the placing ("Placing") of new and existing Ordinary
Shares  and admission of all of its Ordinary Shares, issued and to be issued
to trading on AIM ("AIM"), a market operated by London Stock Exchange plc (the
"London Stock Exchange") ("Admission"). Copies of the Admission Document are
available for inspection on the Company's website at
www.ashtead-technology.com, subject to certain exceptions.

Ashtead Technology Holdings plc

ADMISSION TO TRADING ON AIM AND FIRST DAY OF DEALINGS

Ashtead Technology Holdings plc, a leading subsea equipment rental and
solutions provider for the global offshore energy sector, is pleased to
announce the admission of its entire issued and to be issued share capital to
trading on the AIM market of the London Stock Exchange. Admission will take
place and dealings will commence at 8.00 a.m. today under the ticker "AT." and
ISIN GB00BLH42507.

The Company's Admission Document is available to view on the Company's website
at https://www.ashtead-technology.com/ (https://www.ashtead-technology.com/) .

Numis Securities Limited is acting as Nominated Adviser and Sole Bookrunner in
relation to Admission.

Allan Pirie, Chief Executive Officer, commented:

"Today marks another exciting milestone in the evolution of Ashtead
Technology. As a newly listed company, we plan to continue to grow and
strengthen our core business in subsea technology rental and solutions both
organically and through acquisition further broadening our range of
complementary equipment and services and expanding our geographic presence. We
are delighted to welcome our new shareholders and look forward to serving them
as we continue to execute our growth strategy."

 

For further information, please contact:

 Ashtead Technology                                    Via Engine MHP
 Allan Pirie, Chief Executive Officer
 Ingrid Stewart, Chief Financial Officer

 Engine MHP (Financial PR)                             Tel: +44 (0)20 3128 8540
 Peter Hewer                                           AshteadTechnology@mhpc.com
 Charlie Barker
 Robert Collett-Creedy

 Numis Securities Limited (Nomad and Sole Bookrunner)  Tel: +44 (0)20 7260 1000
 Julian Cater
 George Price
 Jonny Abbott

 Kevin Cruickshank (QE)

Notes to editors:

Ashtead Technology is a leading subsea equipment rental and solutions provider
for the global offshore energy sector. Ashtead Technology's specialist
equipment, advanced-technologies and support services enable its customers to
understand the subsea environment and manage offshore energy production
infrastructure.

The Company's service offering is applicable across the lifecycle of offshore
wind farms and offshore oil and gas infrastructure. Headquartered in the UK,
the Company operates globally, servicing customers from its nine international
customer service hubs.

In the fast-growing offshore wind sector, Ashtead Technology's specialist
equipment and services are essential through the project development,
construction and installation phase. Once wind farms are operational, Ashtead
Technology supports customers with inspection, maintenance and repair ("IMR").
In the more mature oil and gas sector, Ashtead Technology's focus is on IMR
and decommissioning.

Following the participation of Bill Shannon in the IPO, the revised directors'
holdings in the Group are set out below:

 Shareholder     % of Issued Share Capital
 Allan Pirie     2.7%
 Ingrid Stewart  0.4%
 Joe Connolly    0.2%
 Bill Shannon    0.1%

 

IMPORTANT NOTICES:

 

This announcement does not constitute or form part of any offer for sale or
subscription or any solicitation of any offer to buy or subscribe for any
securities and neither this announcement nor any part of it forms the basis of
or may be relied on in connection with or act as an inducement to enter into
any contract or commitment whatsoever.

 

The information contained in this announcement is for background purposes only
and does not purport to be full or complete, nor does this announcement
constitute or form part of any invitation or inducement to engage in
investment activity. No reliance may be placed by any person for any purpose
on the information contained in this announcement or its accuracy, fairness or
completeness. The contents of this announcement are not to be construed as
legal, financial or tax advice.

 

This announcement is not for publication or distribution, directly or
indirectly, in or into the United States (including its territories and
possessions, any State of the United States and the District of Columbia),
Australia, Canada, Japan. Hong Kong, the Republic of South Africa or any other
jurisdiction where to do so would constitute a violation of the relevant laws
of such jurisdiction. The distribution of this announcement may be restricted
by law in certain jurisdictions and persons into whose possession any document
or other information referred to herein comes should inform themselves about
and observe any such restriction. Any failure to comply with these
restrictions may constitute a violation of the securities laws of any such
jurisdiction.

 

The securities referred to in this document have not been, and will not be,
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold in the United States except on the basis
of an applicable exemption from registration, or in a transaction not subject
to, the registration requirements of the Securities Act. There will be no
public offering of securities in the United States.

 

This document contains statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements involve known
and unknown risks and uncertainties, many of which are beyond the Group's
control and all of which are based on the Directors' current beliefs and
expectations about future events. In some cases, these forward-looking
statements can be identified by the use of forward-looking terminology,
including, without limitation, the terms "anticipates", "believes", "could",
"envisages", "estimates", "expects", "intends", "may", "plans", "projects",
"should", "will" or, in each case, their negative or other variations or
comparable terminology. These forward-looking statements relate to matters
that are not historical facts. They include statements regarding the
intentions, beliefs and current expectations of the Company or the Directors
concerning, amongst other things, the results of operations, financial
condition, liquidity, prospects, growth and strategies of the Company and the
industry in which the Group operates. By their nature, forward-looking
statements involve risks and uncertainties because they relate to events and
depend on circumstances that may or may not occur in the future.
Forward-looking statements are not guarantees of future performance. The
actual results, performance or achievements of the Company or developments in
the industry in which the Group operates may differ materially from the future
results, performance or achievements or industry developments expressed or
implied by the forward-looking statements contained in this document.

 

These forward-looking statements and other statements contained in this
document regarding matters that are not historical facts involve predictions.
No assurance can be given that such future results will be achieved; actual
events or results may differ materially as a result of risks and uncertainties
facing the Group. Such risks and uncertainties could cause actual results to
vary materially from the future results indicated, expressed or implied in
such forward-looking statements.

 

Each of the Company and Numis Securities Limited, and their respective
affiliates, expressly disclaims any obligation or undertaking to update,
review or revise any forward-looking statements contained in this announcement
and disclaims any obligation to update its view of any risks or uncertainties
described herein or to publicly announce the results of any revisions to the
forward-looking statements made in this announcement, whether as a result of
new information, future developments or otherwise, except as required by law.

 

Neither Numis Securities Limited, nor any of its affiliates, directors,
officers or employees, advisers, agents or any other person accepts any
responsibility or liability whatsoever for the contents of, or makes any
representations or warranties, express or implied, as to the accuracy,
fairness or completeness of the information presented or contained in this
announcement (or whether any information has been omitted from this
announcement) or any other information relating to the Company, its
subsidiaries and their associated companies, whether written, oral or in a
visual or electronic form, and howsoever transmitted or made available or for
any loss howsoever arising from any use of this announcement or its contents
or otherwise arising in connection therewith. Accordingly, Numis Securities
Limited, and its affiliates, directors, officers or employees, and any other
person acting on their behalf expressly disclaims, to the fullest extent
possible, any and all liability whatsoever for any loss howsoever arising
from, or in reliance upon, the whole or any part of the contents of this
announcement, whether in tort, contract or otherwise which they might
otherwise have in respect of this announcement or its contents or otherwise
arising in connection therewith.

 

Numis Securities Limited is acting exclusively for the Company and no one else
in connection with this Announcement. They will not regard any other person as
their respective clients in relation to the possible Admission and will not be
responsible to anyone other than the Company for providing the protections
afforded to their respective clients, nor for providing advice in relation to
the contents of this announcement or any transaction, arrangement or other
matter referred to herein.

 

Numis Securities Limited is authorised and regulated by the Financial Conduct
Authority in the United Kingdom.

 

For the avoidance of doubt, the contents of the Company's website are not
incorporated by reference into, and do not form part of, this announcement.

 

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