London Stock Exchange welcomes The Panoply Holdings Plc to AIM

The Panoply Holdings PLC is a digitally native technology services company. It was founded in 2016 with the aim of identifying and acquiring best-of-breed specialist information technology and innovation consulting businesses across Europe, to form regional clusters of group companies positioned to deliver services that help clients digitally transform their businesses for the automation age.

The Company has raised gross proceeds of £5.0m, before expenses, through an oversubscribed placing of 6,756,755 new Ordinary Shares at 74 pence per Ordinary Share (the "Placing Price") together with a vendor sale of an additional 526,615 Ordinary Shares at the Placing Price raising a further £400k. The Panoply is EIS/VCT-qualifying, profitable, debt-free, and plans to pay a dividend from 2020.

From Admission, the four companies below will become part of the enlarged group (the "Enlarged Group" or "The Panoply Group"):

  • Bene Agere: an Oslo-based strategy and management consultancy;
  • Manifesto Digital: an award-winning London-based digital experience agency;
  • Notbinary: an award-winning London-based IT consultancy focused on digital transformation; and
  • Questers: an award-winning provider of onshore and nearshore agile software development services

The four businesses service a breadth of blue-chip customers between them, including Unilever, BBC, National Trust, Unicef UK, Kew Gardens, DVLA, London Southbank University, Funding Circle and Shelter.

The listing provides the Group with an increased profile, the access to additional capital to grow organically, and provides a platform to make further acquisitions.

Neal Gandhi, Chief Executive Officer, commented:
"The Panoply is a services company assembled to meet the demands created by the "fourth industrial revolution", combining the very best talent to service the growing technical needs of clients with innovation, creativity and efficiency. With digital transformation becoming more and more critical to companies’ success across many verticals, this is the right time for a digitally native business such as ours to come to the market and capitalise on that structural shift. The old consultancy model is dying, and our decentralised, agile operating model is here to take its place.

"We have ambitious growth plans and are confident that AIM will be the right platform to support us in rapidly scaling the business. Admission to the exchange will bolster our brand and provide the capital necessary to pursue further, sustainable growth."