18 December 2012
First day of Dealings
Fusionex, an award winning international provider of enterprise software solutions and related services, is pleased to announce the commencement of dealings in its Ordinary Shares at 08.00 today on LSE AIM under the ticker symbol FXI.
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, INTO OR IN THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF IRELAND OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
- The Company has raised approximately £12 million before expenses through the placing of 7,666,667 ordinary shares with institutional investors and private individuals at a Placing Price of 150 pence per share.
- The market capitalisation of Fusionex on Admission at the Placing Price will be approximately £64.5 million.
- The Placing was well received and significantly oversubscribed by institutional investors and private individuals in the UK.
- Fusionex will use the net proceeds of the Placing to fund product development, expand its sales capabilities and provide additional working capital.
- Fusionex has been profitable since 2007 and in the 12 months to 30 September 2012 generated revenues of US$10.0 million and profit after tax US$4.2 million.
- Panmure Gordon & Co. is acting as Nominated Adviser and sole broker to the Company.
Ivan Teh, Chief Executive of Fusionex commented:
“I am delighted with the positive response we have received from investors with the placing being significantly oversubscribed. We have a clearly defined growth strategy and believe our business is well placed to continue to capitalise on a number of strategic growth initiatives.
I look forward to our new life as an AIM-listed company continuing to build shareholder value for our new high-quality institutional shareholder base.”
For further details:
FusionexIvan Teh, Chief Executive Officer
Yuen Choong Lai, Chief Financial Officer
020 7466 5000
Panmure GordonGiles Stewart, Fred Walsh, Grishma Patel (Investment Banking)
Tom Nicholson, Charles Leigh-Pemberton (Corporate Broking)
020 7886 2500
BuchananJeremy Garcia, Gabriella Clinkard www.buchanan.uk.com
020 7466 5000