REG - Vulcan Two Group PLC - Admission to AIM and First Day of Dealings

Vulcan TwoAnnouncement

03/09/2025 07:10

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RNS Number : 7322X  Vulcan Two Group PLC  03 September 2025

THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN ARE RESTRICTED AND ARE
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PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

 

3 September 2025

 Vulcan Two Group plc

(the "Company" or "Vulcan Two")

 

Admission to AIM and First Day of Dealings

 

Vulcan Two Group plc, the company aiming to create the UK's leading regulated
ePharmacy through buy-and-build, is pleased to announce that its entire issued
ordinary share capital, consisting of 6,775,000 ordinary shares of 10 pence
each ("Ordinary Shares"), will today be admitted to trading on the AIM market
of the London Stock Exchange ("Admission"). Dealings will start at 08:00 a.m.
today under the ticker "VUL".  The Company's ISIN is GB00BTQLZH16 and its
SEDOL is BTQLZH1.

 

In connection with the Admission, the Company has successfully raised gross
proceeds of £12.0 million, by way of an institutional placing of new Ordinary
Shares (the "Placing") and a direct subscription by certain Subscribers for
new Ordinary Shares (the "Subscription") (together, the "Fundraising").
Pursuant to the Fundraising, a total of 6,000,000 new Ordinary Shares will be
issued in the Company, at a price of 200 pence per share (the "Issue Price").
Based on the Issue Price, the Company's market capitalisation on Admission
will be approximately £13.6 million.

 

The Admission Document is available to view on the Company's website at
www.vulcantwo.com (http://www.vulcantwo.com) . Canaccord Genuity Limited is
acting as Nominated Adviser and Sole Broker to the Company.

 

 

Transaction Highlights

 

·     The Placing received strong support from institutional investors,
raising gross proceeds of approximately £10.5 million.

 

·      The Subscription raised gross proceeds of approximately £1.5
million.

 

·      The net proceeds of the Fundraising will be used to:

o  provide working capital for the Group;

o finance due diligence costs in relation to potential acquisition targets,
in accordance with the Company's Investing Policy;

o  contribute to consideration for acquisitions or investments; and

o  repay certain existing Group debt and pay certain fees in relation to
services previously provided to the Group, of approximately £120,000 in
aggregate.

 

 

Company Highlights

 

·      Vulcan Two Group plc is a new company that has been established
to acquire companies or businesses that the Directors believe have the
potential to generate shareholder value. The Directors will focus on acquiring
companies in the ePharmacy market and will initially focus on businesses
operating substantially in the UK.

 

·      The UK's ePharmacy market is high-growth and fragmented, which
the Directors believe creates a clear consolidation opportunity. The Directors
intend to lead the consolidation of the private prescription sector - one of
the fastest growing and most profitable sectors of the UK Pharmacy market.

 

·     Following Admission, the Group intends to develop acquisition
opportunities as quickly and effectively as possible. The Board believes that
its significant experience and the considerable market research conducted to
date will result in strong deal flow and the Directors have already
established a promising pipeline of potential acquisition opportunities.
However, there can be no certainty at this stage that any such transactions
will be completed and/or on what timeframe any such transactions might occur.

 

·      Once acquisitions have been completed, the Directors will focus
on growth and operational improvement of acquired businesses and will seek to
drive cost and revenue synergies as the Group expands in order to enhance
Shareholder value, whilst continuing to identify and appraise additional
acquisition opportunities.

 

·      The Group's two Executive Directors, Michael Kraftman and Brendan
O'Brien, have leading experience in the eCommerce healthcare sector, having
built Vision Direct, one of Europe's leading online contact lens suppliers,
between 2009 and 2021. Vision Direct was built through a combination of strong
organic growth and through six acquisitions in the period, to create a
business generating over £100 million of revenue. In 2016 they sold the
enlarged business, generating a 4.25x return to investors in a two-year
period, which included leading a successful re-brand, integration of
operations of acquired businesses into a single operational structure and
growing the team to over 200 people across Europe.

 

·    They now see an opportunity to build the UK's leading regulated
ePharmacy group and will use the Company as the platform on which to pursue
that opportunity.

 

Unless otherwise stated, defined terms used in this announcement have the same
meaning as those in the Admission Document published by the Company on 29
August 2025.

 

Michael Kraftman, Chief Executive Officer of Vulcan Two, commented:

"We are delighted to join AIM today and deeply appreciate the strong support
we have received from our investors. This milestone marks the beginning of an
exciting new chapter as we work to build the UK's leading regulated ePharmacy
platform. With a clear strategy and a strong pipeline, we believe we are well
positioned for the future, and we look forward with great excitement to the
opportunities ahead."

- Ends -

For further information please contact:

 

 Vulcan Two Group plc                                  Email: info@vulcantwo.com (mailto:info@vulcantwo.com)

 Michael Kraftman, Chief Executive Officer

 Brendan O'Brien, Chief Operating Officer

 www.vulcantwo.com (http://www.vulcantwo.com)
 Canaccord Genuity Limited                             Tel: +44 (0) 20 7523 8000

(Nominated Adviser and Sole Broker)

 Simon Bridges
 Harry Pardoe

 Elizabeth Halley-Stott

 

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