REG - Aurrigo Int PLC - Admission to AIM and First Day of Dealings

Aurrigo InternationalAnnouncement

15/09/2022 07:01

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RNS Number : 5046Z  Aurrigo International PLC  15 September 2022

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTED AND IS
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, IN, INTO OR FROM THE UNITED STATES OF AMERICA (THE "UNITED STATES"
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OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL (EACH A "RESTRICTED JURISDICTION").

 

15 September 2022

Aurrigo International plc

Admission to Trading on AIM and First Day of Dealings

Aurrigo International plc (AIM: AURR, the "Company" or "Aurrigo"), a leading
international provider of technology solutions, announces the admission of its
entire issued share capital, being 41,666,667 Ordinary Shares, to trading on
the AIM market of the London Stock Exchange ("Admission").

 

Dealings in the Ordinary Shares will commence at 8.00 a.m. today, 15 September
2022, under the ticker "AURR" (ISIN: GB00BNG73286).

 

The Company's AIM admission document (the "Admission Document") was published
on 12 September 2022 and is available to view on its website at:
www.aurrigo.com/investors.

 

Admission Highlights

·    The Company has successfully raised gross proceeds of £8.0 million
in total, at a price of 48 pence per Ordinary Share

·     Upon Admission, the Company will have a market capitalisation (at
the Offer Price) of approximately £20.0 million

·   The Directors believe that Admission is an important step in Aurrigo's
continuing development and will accelerate its commercial progression. In
particular, the Placing will provide the Company with the capital to execute
the Board's growth plans

·    Singer Capital Markets Securities Limited acted as Sole Bookrunner
and Placing Agent, Singer Capital Markets Advisory LLP has been retained as
Nominated Adviser and Broker

Company and Use of Proceeds

 

·    Headquartered in Coventry, UK, Aurrigo has a 29-year history as a
manufacturer and supplier of product solutions to premium automotive OEMs.

·     It is highly regarded as a specialist in autonomous and
semi-autonomous technology solutions and is now moving into the aviation,
ground handling and cargo industries.

·   The Company has developed six autonomous vehicles to date, which can
be utilised to reduce costs, resolve operational issues and tackle labour
shortages, whilst also improving sustainability.

·      Proceeds of the Placing will be used to:

-     realise the potential growth of the Company's Aviation Division;

-     scale headcount at all levels, both in the UK and internationally;

-     increase brand awareness and enhance the Company's profile; and

-   capitalise on its early mover advantage, through the deployment of
Auto-Sim and Auto-Dolly, the company's lead products.

 

 

Prof. David Keene, CEO of Aurrigo, commented:

 

"Achieving our listing and fundraise in these challenging markets is a real
testament to the great technology, sound business and talented team we have at
Aurrigo. It gives us a solid platform for growth and we are excited about
taking the next step on our journey.

 

"We're now in a great position to deliver on our planned projects and
opportunities, particularly in the aviation space, introducing autonomous
solutions which can improve efficiencies, staffing shortages and
sustainability for airport operations globally."

 

 

Capitalised terms used in this announcement shall, unless the context provides
otherwise, have the same meanings as in the Admission Document.

For further enquiries:

 Aurrigo International plc                                   via Instinctif Partners

 Andrew Cornish, Non-Executive Chair

 David Keene, Chief Executive Officer

 Ian Grubb, Chief Financial Officer

 Singer Capital Markets (Nominated Adviser and Sole Broker)  +44 (0)20 7496 3000

 Phil Davies, Rick Thompson, George Tzimas, Kailey Aliyar

 Instinctif Partners (Financial Communications)              +44 (0)20 7457 2020

 Tim McCall, Rozi Morris, Mark Walter                        aurrigo@instinctif.com

 

About Aurrigo

Aurrigo is a leading international provider of transport technology solutions.
Headquartered in Coventry, UK, the company designs, engineers, manufactures
and supplies OEM products and autonomous vehicles to the automotive and
transport industries. It is highly regarded as a specialist in autonomous and
semi-autonomous technology solutions for the aviation, ground handling and
cargo industries.

The company has three divisions, Automotive Technology, Autonomous Technology
and Aviation Technology. For more information, see www.aurrigo.com
(http://www.aurrigo.com)

 

IMPORTANT INFORMATION

This announcement has been supplied for information purposes solely in
connection with Admission, and for no other purpose. Neither this announcement
nor its distribution to any person constitutes or forms part of any offer or
invitation to sell or issue or purchase or subscribe for any shares or other
securities in the Company and nor shall it (or the fact of its distribution)
form the basis of, or be relied on in connection with, any contract therefor.

This announcement does not constitute, or form part of, any offer or
invitation to sell or issue, or any solicitation of any offer to purchase or
subscribe for any shares or other securities in any Restricted Jurisdiction.
The Placing and the distribution of this announcement and other information in
connection with the Placing and Admission in certain jurisdictions may be
restricted by law and persons into whose possession this announcement, any
document or other information referred to herein 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 any
such jurisdiction. Neither this announcement nor any part of it nor the fact
of its distribution shall form the basis of or be relied on in connection with
or act as an inducement to enter into any contract or commitment whatsoever.

Recipients of this announcement who are considering subscribing for or
acquiring Ordinary Shares are reminded that any such acquisition or
subscription must be made only on the basis of the information contained in
the Admission Document, which may be different from the information contained
in this announcement. No reliance may be placed, for any purpose whatsoever,
on the information or opinions contained in this announcement or on its
accuracy, fairness or completeness.

To the fullest extent permitted by applicable law or regulation, no
undertaking, representation or warranty, express or implied, is given by or on
behalf of Singer Capital Markets, or their respective parent or subsidiary
undertakings or the subsidiary undertakings of any such parent undertakings or
any of their respective directors, officers, partners, employees, agents,
affiliates, representatives or advisers or any other person as to the
accuracy, sufficiency, completeness or fairness of the information, opinions
or beliefs contained in this announcement and, save in the case of fraud, no
responsibility or liability is accepted by any of them for any errors,
omissions or inaccuracies in such information, opinions or beliefs or for any
loss, cost or damage suffered or incurred, howsoever arising, from any use, as
a result of the reliance on, or otherwise in connection with, this
announcement.  Singer Capital Markets does not accept any liability
whatsoever for the accuracy of any information or opinions contained in this
announcement or for the omission of any information from this announcement for
which the Company and the Directors are solely responsible.

Singer Capital Markets are authorised and regulated in the United Kingdom by
the FCA, are acting exclusively for the Company as nominated adviser, sole
broker, sole bookrunner and placing agent (as appropriate) to the Company in
connection with the Placing and Admission and will not be acting for any other
person (including any recipient of this announcement) or otherwise be
responsible to any other person for providing the protections afforded to
clients of Singer Capital Markets or for advising any other person in respect
of the Placing and Admission or any transaction, matter or arrangement
referred to in this announcement. Such persons should seek their own
independent legal, investment and tax advice as they see fit.

The Nominated Adviser's responsibilities as the Company's nominated adviser
under the AIM Rules for Nominated Advisers are owed solely to the London Stock
Exchange and are not owed to the Company or to any Director or to any other
person in respect of his decision to acquire shares in the Company in reliance
on any part of this announcement or the Admission Document.

This announcement is directed only at persons whose ordinary activities
involve them in acquiring, holding, managing and disposing of investments (as
principal or agent) for the purposes of their business and who have
professional experience in matters relating to investments and are: (i) if in
a member state of the European Economic Area ("EEA"), Qualified Investors as
defined in article 2(e) of Regulation (EU) 2017/1129 (the "EU Prospectus
Regulation"); (ii) if in the United Kingdom, are Qualified Investors within
the meaning of the UK version of the EU Prospectus Regulation which forms part
of UK domestic law pursuant to the European Union (Withdrawal) Act 2018  and
(a) fall within article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005, as amended (the "Order") or (b) are persons
who fall within article 49(2)(a) to (d) (high net worth companies,
unincorporated associations, etc.) of the Order or (c) to whom it may
otherwise be lawfully distributed  (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. Persons distributing this announcement must satisfy
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to which this announcement relates is available only to Relevant Persons and
will be engaged in only with Relevant Persons. This announcement does not
itself constitute an offer for sale or subscription of any securities in the
Company.

The Ordinary Shares referred to in this announcement have not been, and will
not be, registered under the US Securities Act of 1933, as amended (the
"Securities Act"), or with any securities regulatory authority of any state of
the United States or any other jurisdiction, and the Ordinary Shares may not
be offered, sold, resold, transferred or delivered, directly or indirectly, in
or into the United States or to, or for the account or benefit of, US persons
("US Persons") as defined in Regulation S under the Securities Act
("Regulation S"), except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements of the Securities Act. The
Ordinary Shares are being offered and sold in offshore transactions outside of
the United States to persons that are not US Persons or acting for the account
or benefit of US Persons, in reliance on Regulation S, or otherwise in
transactions that are exempt from the registration requirements of the
Securities Act and other applicable US state securities laws.

Acquiring Ordinary Shares may expose an investor to a significant risk of
losing all of the amount invested. The value of shares can decrease as well as
increase. This announcement does not constitute a recommendation concerning
the Ordinary Shares. Persons considering purchasing the Ordinary Shares should
consult an authorised person specialising in advising on such investments.

This announcement includes statements that are, or may be deemed to be,
"forward-looking statements". These forward-looking statements can be
identified by the use of forward-looking terminology, including the terms
"believes", "estimates", "plans", "projects", "anticipates", "expects",
"intends", "may", "will", or "should" or, in each case, their negative or
other variations or comparable terminology. These forward-looking statements
include matters that are not historical facts. They appear in a number of
places throughout this announcement and include statements regarding the
Directors' current intentions, beliefs or expectations concerning, among other
things, the Company's results of operations, financial condition, liquidity,
prospects, growth, strategies and the Company's markets. By their nature,
forward-looking statements involve risk and uncertainty because they relate to
future events and circumstances. Actual results and developments could differ
materially from those expressed or implied by the forward-looking statements.
Forward-looking statements may and often do differ materially from actual
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certain factors and assumptions, including the Directors' current view with
respect to past or current trends, future events and are subject to risks
relating to future events and other risks, uncertainties and assumptions
relating to the Company's operations, results of operations, growth strategy
and liquidity. Whilst the Directors consider these assumptions to be
reasonable based upon information currently available, they may prove to be
incorrect.  Save as required by law or by the AIM Rules for Companies, the
Company undertakes no obligation to publicly release the results of any
revisions to any forward-looking statements in this announcement that may
occur due to any change in the Directors' expectations or to reflect events or
circumstances after the date of this announcement.

Certain figures contained in this announcement, including financial
information, have been subject to rounding adjustments. Accordingly, in
certain instances, the sum or percentage change of the numbers contained in
this announcement may not conform exactly to the total figure given.

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hyperlinks on the Company's website is incorporated in, or forms part of, this
announcement.

Neither this announcement nor the Admission Document have been approved by the
FCA or London Stock Exchange, nor is it intended that this announcement or the
Admission Document will be so approved.

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