london stock exchange welcomes to the premium segment of the main market

London Stock Exchange today welcomes plc to the premium listing segment of the Official List and to trading on the main market of the London Stock Exchange. plc is one of the UK’s leading multi-channel specialist retailers of value gifts, arts, crafts, toys, books and stationery. Its mission is to offer customers a unique and enjoyable shopping experience, built on its principles of value, variety and quality. plc sells high-quality, great value products in four specialist categories, primarily through its network of over 450 stores in the UK & Ireland. Stores can be found on high-streets, in retail parks, shopping centres and as concessions in various locations. plc also has a significant and growing online presence that enables customers to shop any time of the day and an extended range of products that are not available in our stores. This multi-channel offering includes a popular Click & Collect service.

The Offer price has been set at 160 pence per share which equates to a market capitalisation of £100 million on Admission. The Offer is expected to raise £65.2 million of gross proceeds, of which £28.5 million is for the Company and £36.7 million is for the selling shareholders, the Company’s Executive Directors and Chairman, members of the senior management team and other individuals.

Kevin Keaney, Chief Executive Officer of plc

“Today represents a significant milestone for TheWorks and we’re extremely pleased with the level of interest we’ve received from investors in our business. They’ve seen what our customers see every day - a unique and exciting retail experience that combines value, quality and variety that’s available online and in-store. With a highly experienced management team, energised staff and compelling offer, we are well-positioned for further growth. We’re grateful to our exiting shareholders Endless, whose support has enabled us to get here today and look forward to welcoming new shareholders to join us in this exciting new chapter for the business.”
Investec acted as sole sponsor, financial adviser and bookrunner, Teneo Blue Rubicon acted as Financial PR and Walker Morris LLP acted as legal counsel.