Admission to Trading on AIM

RNS Number : 4161V

One Delta PLC

12 January 2012

 



AIM: ONE

12 January 2012

One Delta plc

("One Delta" or "the Company")

(formerly Cholet Investments plc)

Completion of fundraising, acquisition of the One Delta Limited and readmission to trading on AIM

Further to the announcements made on 23 December 2011 and 11 January 2012, the Company is pleased to announce the readmission of its enlarged issued share capital to trading on AIM following completion of the subscription for 3,446,875 ordinary shares at 8 pence per share to raise £275,750 (before expenses) and the acquisition of One Delta Limited for £1.7 million consideration, which has been satisfied by the issue of the 21,250,002 consideration shares. The acquisition constitutes a reverse takeover under the AIM Rules.  The legal name of the Company has been changed to One Delta plc with immediate effect and dealingsin the enlarged issued share capital will commence at 8.00am today with ticker ONE. 

On admission, the Company will have 31,574,356 ordinary shares admitted to trading on AIM.

One Delta is currently focused on the development of products in the flood defence and military sectors utilising components manufactured from recycled waste products. One Delta's aim is to become a leading commercialisation and development company for environmental innovation. Further information on One Delta and its business is set out below.

Board Changes

Sean Reel has today been appointed to the board and Roger King has assumed the role of Executive Director.

Brief details of Sean Reel are set out below:

Sean Reel (Executive Chairman), aged 47, has over 20 years' experience managing fast moving consumer goods, media and technology businesses. He is an active investor in the environmental sector, recycling and cleantech. He is an experienced director and was chairman and chief executive officer of MediaZest plc (which floated on AIM in 2005). Mr Reel has been a Director at Haymarket Consumer Publishing and also sales director for IPC Media Limited during the management buyout and subsequent sale to AOL Time Warner for £1.1 billion. During this period he was responsible for sales of over £500 million. For nearly 10 years he held a number of senior posts in Alliance Boots plc including head of trade marketing and head of sales. In 2009, Mr Reel was selected as a Future 500 entrepreneur by the Guardian Observer Newspaper Group and holds a number of professional and academic qualifications including an MBA and DipM. Mr Reel has been a Director at One Delta Limited since its incorporation in 2008 and has been instrumental in creating the required protection of the One Delta product range and has secured several fundamentally important working partnerships.

Further information relating to Mr Reel, as required under schedule 2 of the AIM Rules for Companies, is set out below in the section entitled "Additional Information".

Merchant Securities Limited acted as Nominated Adviser and Broker.

Enquiries:

One Delta plc
Sean Reel, Executive Chairman	Tel: [phone]
Roger King, Executive Director	Tel: [phone]
Merchant Securities Limited (Nominated Adviser and Broker)
Simon Clements / Virginia Bull	Tel: [phone]

www.onedeltaplc.com

Copies of the AIM Admission Document are available on the Company's website (www.onedeltaplc.com) or from the offices of Merchant Securities Limited at 51-55 Gresham Street, London EC2V 7HQ.

Background information on One Delta

One Delta Limited was incorporated on 7 October 2008. Its founders, Sean Reel and Phil Dale established the company to address the market demand for flood protection products. Since incorporation One Delta has diversified and is focused on the incorporation of recycled plastic materials into the design and production of a number of innovative products intended to provide effective, cost-efficient and environmentally sustainable solutions across a wide range of sectors.

One Delta is currently engaged in the design, testing and accreditation of products with a view to achieving commercial application in three principal sectors:

•           defence;

•           security fencing; and

•           mobile, off-building flood defence.

Current product pipeline

PXP Security Fence - PXP Security Fences offer a new, sustainable product for security, crowd control, property and event management fencing. PXP Security Fences are an environmentally sound, rapid-erect, recycled fencing product that is available for either purchase or lease. The PXP Security Fence has the potential to become a cost effective, replacement for the traditional solutions that use wood, steel or brick structures for major events, commercial and residential markets.

INSTANT Flood Barrier ("IFB") - This product is well placed to take advantage of the recent government recommendations that have placed responsibility for flood response onto the UK's local authorities. IFB is a flat packed, rapid-erect, flood defence barrier made from RWP that is easily transported, stored and is reusable. The One Delta Management consider that IFB is a significant advancement on historical fixed defence systems and traditional sandbags.

BROOKS Defence- The Brooks Defence solutions offer rapid-erect, lightweight, mobile, anti-ballistic ground force protection systems for use by the military. The concept has been well received by the Ministry of Defence and certain defence companies alike. The technology used in the products is being developed with an anti-ballistic facility and the products are now set for Ministry of Defence testing.

As mentioned above, One Delta uses recycled plastic materials in its design and development process. Specifically each proposed product range incorporates components manufactured from recycled waste products (RWP), utilising a process called Powder Impression Moulding (PIM). The use of RWP provides advantages in terms of the relative ease of securing supplies and the low cost of raw materials.

The One Delta Management recognise the versatility of the RWP component and have identified further commercialisation applications for the technology which, together with the pipeline products referred to above, afford the potential to create additional revenue streams in the future.

Additional information

Under Schedule 2, paragraph (g) of the AIM Rules, the following information is disclosed:

Directorships held by Mr Reel in the past five years other than One Delta Limited:

Directorships

Director	Current Directorships/Partnerships	Past Directorships/Partnerships
Sean Malachy Reel	None	Electronic Media Promotions Limited Flexistone Limited Hollywood Media Services plc Launchpad Marketing Limited Mediazest plc Mediazest Ventures Limited Seedbeds Group plc Seedbeds Ventures Limited The Casting Suite Limited Touch Vision Limited

Sean Reel was appointed as a director of The Casting Suite Limited (company number 06451115) on 14 March 2008 and ceased to be a director on 7 September 2009. The Casting Suite Limited was acquired by Hollywood Media Services and Mr Reel was appointed to the board on 28 April 2009. Hollywood Media Services plc went into liquidation on 6 April 2010 and the total deficiency to creditors was £484,098.

Interests of the Directors and their connected persons in the share capital of the Company:

	Number of Ordinary Shares	Percentage of Ordinary Shares in issue
Roger King	583,973	1.85
Roger Maddock	998,556	3.16
Sean Reel	7,031,250	22.27

Mr Reel has confirmed there is no additional information under schedule 2, paragraph (g) of the AIM rules which needs to be disclosed.

 

END

 

 

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