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| Date | 31 Jan 2022 |
| Time | 16:30:02 |
| Category | Corporate updates |
| ID | 2035A |
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ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES") |
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COMPANY NAME: |
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Hercules Site Services plc ("Hercules" or the "Company")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES): |
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Hercules Site Services plc Hercules Court Lakeside Business Park Broadway Lane South Cerney Cirencester GL7 5XZ
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COUNTRY OF INCORPORATION: |
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England & Wales
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: |
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https://www.hercules-construction.co.uk/
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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: |
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The Company, based in Cirencester, Gloucestershire, is a provider of labour and construction services to blue-chip clients in the UK infrastructure sector.
Labour supply is the Company's core business, supplying skilled and qualified labour to construction companies to deliver key infrastructure, civil engineering, utilities, groundworks, highway and railway projects. Projects the Company is currently supplying labour to include HS2, Water Infrastructure Management Plan 7 (AMP7), Crossrail and the M4 Smart Motorway.
The labour supply business is supported by the Company's proprietary digital technology which is used to accelerate the recruitment and onboarding process for workers which enables the Company to quickly meet its clients' labour needs and also source labour locally to projects. The Company is also developing its digital solutions to provide clients with data analysis tools to help improve their ability to understand their own labour supply needs and make long-term planning decisions.
The Company's construction services business is made up of Civil Projects, where Hercules partners with contractors to provide end-to-end project delivery for civil engineering contracts, and Specialist Plant Hire, where the Company hires out its fleet of suction excavators.
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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): |
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58,650,206 ordinary shares of 0.1p each in the share capital of the Company.
No ordinary shares will be held in treasury.
Issue price: 50.5 pence per share.
The ordinary shares will be freely transferable and have no restrictions as to transfer placed on them.
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CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: |
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To be raised: £4.0 million primary and £4.0 million secondary
Anticipated market capitalisation on admission: £29.6 million
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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85.3%
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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: |
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Not applicable
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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): |
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Brusk Kivilcim Korkmaz (Chief Executive Officer)
Henry John Pitman (proposed Non-Executive Chairman)
Paul David Wheatcroft (Chief Financial Officer)
Ahmet Iplikci (proposed Non-Executive Director)
Richard Anthony Kilner (proposed Independent Non-Executive Director)
Robin Stevens (proposed Independent Non-Executive Director)
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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): |
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NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES: |
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N/A
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(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: |
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(i) 30 September (ii) 31 March 2021 (iii) First three reports: (i) Annual results to 30 September 2021 - published by 31 March 2022 (ii) Interim results to 31 March 2022 - published by 30 June 2022 (iii) Annual results to 30 September 2022 - published by 31 March 2023
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EXPECTED ADMISSION DATE: |
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4 February 2022
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NAME AND ADDRESS OF NOMINATED ADVISER: |
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SP Angel Corporate Finance LLP Prince Frederick House 4th Floor 35-39 Maddox Street London W1S 2PP
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NAME AND ADDRESS OF BROKER: |
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SP Angel Corporate Finance LLP Prince Frederick House 4th Floor 35-39 Maddox Street London W1S 2PP
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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: |
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The Admission Document which will contain full details about the applicant and admission of its securities will be available on the Company's website (https://www.hercules-construction.co.uk/) from on or around 4 February 2022.
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THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY |
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QCA Corporate Governance Code
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DATE OF NOTIFICATION: |
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31 January 2022
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NEW/ UPDATE: |
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Update
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