London Stock Exchange welcomes Rosenblatt Group plc to AIM
London Stock Exchange today welcomes Rosenblatt Group plc (“Rosenblatt”), an independent City law firm which includes one of the UK’s leading dispute resolution practices
Rosenblatt has raised approximately £43 million before expenses through the issue of 36,842,106 new Ordinary Shares and 43,250,000 existing Ordinary Shares. The total number of Ordinary Shares in issue at Admission will be 80,092,106, giving Rosenblatt a market capitalisation of approximately £76 million at the Placing Price of 95 pence per share.
The Directors believe that Admission will assist the Group in its development by (i) further raising its profile; (ii) providing investment to fund growth; (iii) facilitating access to capital and providing a currency for strategic acquisitions; and (iv) attracting and retaining talent.
Nicola Foulston, Chief Executive Officer, Rosenblatt Group plc, said:
“This is an exciting day for Rosenblatt, our staff and clients. Our admission to AIM will provide us with a significant opportunity to create a profitable and growing business to capitalise on the changes seen in the legal marketplace in the UK in recent years driven by regulatory reform and new technology. We want to use the funds raised to take advantage of what is a highly fragmented market to engage in consolidation as well as fund more litigation ‘in-house’. Our proven track record, strong client relationships, experienced and entrepreneurial management team, and strategy for growth means we are confident we can deliver significant value for shareholders over the long-term.”
Cenkos Securities plc has acted as Nomad and Broker to the Company while Redleaf Communications provided financial public relations advice.