- Title:
Schedule One - Marks Electrical Group Plc - Time:
08:00:03 - Date:
15 Oct 2021 - Category:
Capital structure - ID:
2144P
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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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Marks Electrical Group plc ("Marks Electrical", the "Company" or the "Group")
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COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) : |
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4 Boston Road Leicester LE4 1AU United Kingdom
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COUNTRY OF INCORPORATION: |
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England and Wales
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COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26: |
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Company website address containing all information required by AIM Rule 26 from admission: www.markselectrical.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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Marks Electrical, a fast growing online electrical retailer, sells, delivers, installs and recycles a wide range of household electrical products.
The Company was founded in Leicester in 1987 by its Chief Executive Officer, Mark Smithson, and has expanded into a nationwide online retailer, with a strong track record of growth and scaling the business as a result of the consumer shift to online shopping.
Primarily through its website - markselectrical.co.uk - Marks Electrical offers over 3,000 products from over fifty brands across its main product categories, which include Cooking, Refrigeration, Washers & Dryers, Dishwashers and Audio-Visual. These products are sourced from UK distributors of the brands, with whom the Group maintains strong and direct relationships.
The Group operates from one strategically located central warehouse in Leicester, close to the M1 enabling cost and time effective delivery to over 80% of the UK population. The Company operates its own branded and customised fleet of delivery vehicles and employs its own skilled workforce of driver-installation teams that are well trained in handling large domestic appliances and unfriendly freight. Managing its own distribution network allows maximum flexibility for routing and delivery density, while improving efficiency and minimising downtime.
Marks Electrical's proprietary technology, developed in-house by the Company's own team of skilled programmers, has enabled the continual development of new and innovative tools to monitor the MDA market products and prices. The in-house developed operating systems provide real-time data for Marks Electrical's purchasing and sales team to help inform strategic decision making.
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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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Number of ordinary shares of 1 pence each in nominal value ("Ordinary Shares") for which Admission will be sought: TBC.
Issue price per Ordinary Share: TBC.
There are no restrictions as to transfer of Ordinary Shares.
No Ordinary Shares will be held in treasury on Admission to AIM.
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CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION: |
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Primary capital to be raised on admission: £TBC million
Secondary Placing: £TBC million
Anticipated Market Capitalisation on admission: £TBC million
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PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION: |
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TBC%
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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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N/A
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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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Directors
Marnie Jane Millard, Independent Non-Executive Chair*
Mark Adrian Smithson, Founder & Chief Executive Officer
Joshua ("Josh") Ellis Thomas Allan Egan, Chief Financial Officer
David Lindow Wilkinson, Independent Non-Executive Director*
Alyson Tracey Fadil, Independent Non-Executive Director*
*Appointed at Admission
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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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None
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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) 31 March
(ii) 31 March 2021 (audited annual accounts)
(iii) 31 December 2021 (unaudited interim financial information for six months ending 30 September 2021)
30 September 2022 (audited financial information for the year ending 31 March 2022)
31 December 2022 (unaudited interim financial information for six months ending 30 September 2022)
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EXPECTED ADMISSION DATE: |
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Early November 2021
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NAME AND ADDRESS OF NOMINATED ADVISER: |
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Panmure Gordon (UK) Limited One New Change London EC4M 9AF United Kingdom
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NAME AND ADDRESS OF BROKER: |
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Panmure Gordon (UK) Limited One New Change London EC4M 9AF United Kingdom
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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 will contain full details about the applicant and the admission of its securities.
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THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY |
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The Quoted Companies Alliance Corporate Governance Code
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DATE OF NOTIFICATION: |
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15 October 2021
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NEW/ UPDATE: |
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NEW
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Schedule One - Marks Electrical Group Plc08:00:0315 Oct 2021Capital structure2144P