London Stock Exchange welcomes Utilitywise plc to AIM

London Stock Exchange welcomes Utilitywise plc to AIM

Tuesday 12th June 2012

Utilitywise plc, a leading independent utility cost management consultancy to SMEs, is delighted to today announce the commencement of dealings of its Ordinary Shares on the AIM Market of the London Stock Exchange.

Utilitywise was founded 6 years ago and specialises in business energy procurement and energy management. The company negotiates rates with energy suppliers and offers a range products and services to help business customers manage their energy usage. Utilitywise currently has over 8,000 clients throughout the UK. Its success has predominantly been driven by its investment in IT infrastructure, focus on business process management and the development of its range of energy services.

Utilitywise currently employs 259 people and the gross proceeds of the Placing of £6.9m will enable the company to continue to grow organically by increasing headcount and continuing to develop its range of products and services. In addition the Company will seek to acquire companies with complementary products and services.

Geoff Thompson, Chief Executive Officer of Utilitywise commented:

“We are delighted to have received such strong support from investors to embark on the next stage of our development and continue to grow revenues and profits.”

finnCap is acting as Broker and Nominated Adviser to the Company and Hub Capital Partners are Financial Advisers.