Schedule One - Strip Tinning Holdings plc | RNS | Ticker

Schedule One - Strip Tinning Holdings plc

RNS Announcement

RNS Number : 6151Z

AIM

26 January 2022

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:

Strip Tinning Holdings plc ("Strip Tinning" or the "Company")

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

Arden Business Park

Arden Road

Frankley

Birmingham

B45 0JA

The Company's registered office is the same address at which it trades.

COUNTRY OF INCORPORATION:

United Kingdom

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

www.striptinning.com (from Admission)

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:

Strip Tinning, founded in 1957 and headquartered in Arden Business Park, Birmingham, is an established supplier of specialist connectors to the automotive sector.

Strip Tinning manufactures specialist flexible electrical connectors related primarily to heating and antennae systems embedded within automotive glazing and to the connection of the cells within electric vehicle (EV) battery packs, increasingly using flexible and lightweight printed circuit technology that also has growing application elsewhere within vehicles.

The Group consists of two business lines; Glazing and EV. Over 90 per cent. of the Group's historical sales have been related to Glazing systems by way of (i) Busbars for in-screen heating; (ii) Connectors for heating; and antennae and (iii) supplies of tungsten. These Glazing products are used on vehicles of various type across the automotive industry, from cars to trucks and from the smallest to the most exclusive, and independent of the chosen powertrain.

The transition of the automotive sector towards EV is providing additional significant new growth opportunities for the Group's electrical connectivity solutions with battery-related products representing the principal opportunity. In 2019, the Group launched 'ST Flex' to focus on these new opportunities, drawing on its experience with flexible printed circuit connectors to provide connectivity between vehicle batteries and multiple cells and other lightweight, easy to package connector solutions.

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: TBC

Nominal value of ordinary shares on Admission: 1 pence

Issue price per ordinary share: TBC pence

There are no shares to be held in treasury.

There are no restrictions on the transfer of securities to be admitted to trading.

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

Capital to be raised on Admission: £TBC million

Anticipated market capitalisation on Admission: £TBC million

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:

Not applicable

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):

Adam David Robson	Non-Executive Chair
Richard William Barton	Chief Executive Officer
Adam Christian John Le Van	Chief Financial Officer
Paul George	Non-Executive Director
Matthew Gordon Robert Taylor	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	Before Admission	On Admission*
Richard Barton	85%	TBC
Anne Barton	10%	TBC
Steve O'Connor	5%	TBC
Matthew Webb	0%	TBC
*Assumes all existing option holders exercise all of their options upon Admission

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

Not applicable

(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

iii.) First three reports:

a. Audited results for the year to 31 December 2021 - by 30 June 2022

b. Unaudited results for the six months to 30 June 2022 - by 30 September 2022

c. Audited results for the year to 31 December 2022 - by 30 June 2023

EXPECTED ADMISSION DATE:

Mid February 2022

NAME AND ADDRESS OF NOMINATED ADVISER:

Singer Capital Markets Advisory LLP

1 Bartholomew Lane

London

EC2N 2AX

NAME AND ADDRESS OF BROKER:

Singer Capital Markets Securities Limited

1 Bartholomew Lane

London

EC2N 2AX

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:

www.striptinning.com (from Admission)

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Quoted Companies Alliance (QCA) Corporate Governance Code.

DATE OF NOTIFICATION:

26 January 2022

NEW/ UPDATE:

NEW

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END

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RNS metadata

Title: Schedule One - Strip Tinning Holdings plc
Time: 08:00:05
Date: 26 Jan 2022
Category: Capital structure
ID: 6151Z