Schedule One - Ashtead Technology Holdings plc | RNS | Ticker

Schedule One - Ashtead Technology Holdings plc

RNS Announcement

RNS Number : 5460R

AIM

08 November 2021

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

Ashtead Technology Holdings plc

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES):

Registered address

1 Gateshead Close

Sunderland Road

Sandy, Bedfordshire

SG19 1RS

United Kingdom

Trading address

Ashtead House,

Discovery Drive,

Westhill,

Aberdeenshire

AB32 6FG

COUNTRY OF INCORPORATION:

England & Wales

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.ashtead-technology.com

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:

Ashtead Technology is a leading international subsea equipment rental and solutions provider for the global offshore energy sector. Headquartered in the UK, Ashtead Technology operates globally, servicing customers from its nine international customer service hubs.

Ashtead Technology's specialist equipment, technical solutions and support services enable its customers to understand the subsea environment and manage offshore energy infrastructure. Ashtead Technology's service offering is applicable across the lifecycle of offshore wind farms and offshore oil and gas infrastructure.

In the fast-growing offshore wind sector, Ashtead Technology's specialist equipment and services are essential through the project development, construction and installation phase. Once offshore wind farms are operational, Ashtead Technology supports customers with installation, inspection and maintenance and repair ("IMR"). In the more mature oil and gas sector, Ashtead Technology's focus is on IMR and decommissioning.

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):

Number of ordinary shares: 79 million

From Admission there will be no restrictions as to the transfer of these securities

No ordinary shares will be held in treasury on Admission

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Capital to be raised on Admission: TBC

Anticipated market capitalisation on Admission: TBC

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

Percentage of AIM securities not in public hands at Admission: TBC

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:

N/A

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):

William "Bill" Shannon (Independent Non-Executive Chairman)

Allan Pirie (Chief Executive Officer)

Ingrid Stewart (Chief Financial Officer)

Joe Connolly (Non-Executive Director)

Thomas Thomsen (Independent Non-Executive Director)

Tony Durrant (Independent Non-Executive Director)

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):

Shareholder	% of ISC pre-Admission¹	% of ISC post-Admission
Funds controlled by Buckthorn Partners LLP²	57.9%	TBC
Funds controlled by Arab Petroleum Investments Corporation	34.2%	TBC
Allan Pirie³	4.8%	TBC
Ingrid Stewart	0.8%	TBC
Joe Connolly⁴	0.3%	TBC

1. Percentage shareholding based on issued share capital prior to Admission at the mid-point of the IPO valuation range

2. Inclusive of the indirect interests held by Allan Pirie and Joe Connolly noted below

3. Of Allan Pirie's interest, 10% is held indirectly via an interest in entities controlled by Buckthorn Partners LLP

4. Interest is held indirectly via an interest in entities controlled by Buckthorn Partners LLP

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

N/A

(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:

(i) 31 December

(ii) 30 June 2021 (unaudited interim financial information)

(iii) As follows:

a. By 30 June 2022 (annual results for the year ending 31 December 2021)

b. By 30 September 2022 (interim results for the 6 months ending 30 June 2022)

c. By 30 June 2023 (annual results for the year ending 31 December 2022)

EXPECTED ADMISSION DATE:

23 November 2021

NAME AND ADDRESS OF NOMINATED ADVISER:

Numis Securities Limited

45 Gresham Street

London

EC2V 7BF

NAME AND ADDRESS OF BROKER:

Numis Securities Limited

45 Gresham Street

London

EC2V 7BF

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:

A copy of the Company's Admission Document will also be available on the Company's website at www.ashtead-technology.com

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The QCA Corporate Governance Code

DATE OF NOTIFICATION:

8 November 2021

NEW/ UPDATE:

NEW

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END

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RNS metadata

Title: Schedule One - Ashtead Technology Holdings plc
Time: 08:00:03
Date: 8 Nov 2021
Category: Capital structure
ID: 5460R