REG - CT Automotive Group - Admission to trading on AIM

CT AutomotiveAnnouncement

23/12/2021 07:00

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RNS Number : 5432W  CT Automotive Group PLC  23 December 2021

For immediate release

23 December 2021

 

 

CT AUTOMOTIVE GROUP PLC

ADMISSION TO TRADING ON AIM AND FIRST DAY OF DEALINGS

CT Automotive Group plc ("CT Automotive" or the "Company") , a leading
designer, developer and supplier of interior components to the global
automotive industry, is pleased to announce the admission of its entire issued
share capital to trading on the AIM market of the London Stock Exchange.
Admission will take place and dealings will commence in the Ordinary Shares at
8.00 a.m. today under the ticker "CTA" and ISIN GB00BMHYGR77.

Liberum Capital Limited ("Liberum") is acting as Nominated Adviser, sole
bookrunner and sole broker in relation to the Placing and Admission.

 

The Company's admission document (the "Admission Document") is available to
view at the Company's website https://ct-automotive.net/, subject to certain
restrictions in restricted jurisdictions.  Capitalised terms used in this
announcement have the same meanings as in the Admission Document.

 

Simon Phillips, Founder and Chairman of CT Automotive, commented:

 

"Today is an important landmark for CT Automotive as we enter the next
exciting stage of our growth as a quoted company on AIM. As one of the few
trusted manufacturers of interior car parts for some of the world's biggest
automotive brands we have long-term agreements in place and are well placed to
benefit as automotive production volumes recover. Our IPO enables us to invest
further in the growth of the business, and we are excited by the opportunities
ahead."

 

"I would like to welcome our new shareholders and look forward to undertaking
this new chapter with them, as we strive to build on our strong track record
of growth, client relationships and manufacturing excellence."

 

For further information, please contact:

 

CT Automotive via Engine MHP

Simon Phillips, Founder and Executive Chairman

Scott McKenzie, Chief Executive Officer

David Wilkinson, Chief Financial Officer

 

Engine MHP (Financial
PR)
                Tel: +44 (0)20 3100 8540

Tim
Rowntree
              CTAutomotive@mhpc.com

Charlie Barker

Alex Janiaud

 

Liberum (Nominated Adviser, Sole Bookrunner and Sole
Broker)                     Tel: +44 (0)20 3100 2000

Richard Lindley

Benjamin Cryer

Chris Whitaker

 

Notes to editors

 

CT Automotive is engaged in the design, development and manufacture of bespoke
automotive interior finishes (for example dashboard panels and fascia
finishes) and kinematic assemblies (for example air registers, arm rests,
deployable cup holders and storage systems), as well as their associated
tooling, for the world's leading automotive original equipment suppliers
("OEMs") and global Tier One manufacturers.

 

The Company is headquartered in the UK with a low-cost manufacturing
footprint. Key production facilities are located in Shenzhen and Ganzhou,
China complemented by additional manufacturing facilities in Turkey, the Czech
Republic and the UK.

 

CT Automotive's operating model enables it to pursue a price leadership
strategy, supplying high quality parts to customers at a lower overall landed
cost than competitors. This has helped the Company build a high-quality roster
of OEM end customers, both directly and via Tier One suppliers including
Faurecia and Marelli. End customers include volume manufacturers, such as
Nissan, and luxury car brands such as Bentley and Lamborghini. In addition,
the Group supplies electric car manufacturers, including Lucid. It has also
recently started working with e.Go Mobile, a German manufacturer which plans
to launch a series of small electric vehicles for the budget end of the
market.

 

The Company currently supplies component part types to over 45 different
models for 17 OEMs and delivered over four million systems in the 12 months to
31 December 2020. Since its formation, the Company has been the only
significant new entrant into the market, which is characterised by high
barriers to entry.

 

 

 IMPORTANT NOTICES

Liberum, which is authorised and regulated by the Financial Conduct Authority
in the United Kingdom, is acting exclusively for the Company and no-one else
in connection with the Placing and Admission. Liberum will not regard any
other person as its client in relation to the Placing and Admission and will
not be responsible to anyone other than the Company for providing the
regulatory protections afforded to its clients, nor for providing advice in
relation to the contents of this announcement or any transaction, arrangement
or other matter referred to herein.

Neither Liberum, nor any of its directors, officers, employees, advisers or
agents accepts any responsibility or liability whatsoever for or makes any
representation or warranty, express or implied, as to the truth, accuracy or
completeness of the information in this announcement (or whether any
information has been omitted from this announcement) or any other information
relating to the Group, 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.

Neither the content of the Company's website nor any website accessible by
hyperlinks on the Company's website is incorporated in, or forms part of, this
announcement.

 

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