London Stock Exchange welcomes Kalibrate Technologies plc to AIM
Wednesday 4th December 2013
London Stock Exchange is delighted to welcome Kalibrate Technologies plc (“Kalibrate”) – a provider of proprietary software-based products and services to the global petroleum retail industry - to the AIM market, trading under the ticker “KLBT.”
Kalibrate joins AIM with a market capitalisation of £26.2m following the completion of a successful Placing process, raising approximately £13.1m.
Manchester headquartered Kalibrate is the only global provider of both petroleum retail pricing and petroleum retail planning software and services. Kalibrate supports a broad base of over 300 clients, which includes global oil companies, national and regional oil companies, convenience store chains and large format retail/supermarket retailers. Several blue chip clients rely on Kalibrate’s proprietary software including BP and Tesco.
Admission to AIM will enable the firm to more quickly and effectively pursue its strategy for growth. In particular, the proceeds from the Placing will be used to fund the expansion of sales in both core and new geographies; investment in product development; the roll-out of a SaaS model; and the development of a managed services infrastructure.
Commenting on the successful Placing and Admission to AIM, Bob Stein, Chief Executive Officer of Kalibrate Technologies plc commented: “Investor response has been strong and I am delighted with the success of our Placing. This was a milestone event for us at Kalibrate and I’m proud to welcome on board our new, high-quality institutional shareholder base and look forward to delivering on our promise to them as we move to the next stage of our development as a quoted company. “We have a clear strategy in place and look forward with confidence to delivering on that strategy as well as to the creation of value for all of our shareholders.”
N+1 Singer Advisory LLP acted as Nominated Advisor and sole Broker to the Group.