First day dealings
Readybuy PLC
8 September 2003
7.00 AM
Readybuy plc
First Day of Dealings on AIM
Readybuy plc ('Readybuy' or 'the Company') announces the admission of its
Ordinary Shares to trading on the Alternative Investment Market of the London
Stock Exchange ('AIM').
Key Points:
• The Company's shares begin trading on AIM today
• A total of 17,994,010 Readybuy Ordinary Shares were admitted to
trading, giving a market capitalisation at the Placing Price of £8.6m
• Readybuy was formed in June 2003 as a cash shell to attract companies
and businesses which were seeking admission to trading on AIM
• McDonald Yang has developed a range of chilled Chinese ready meals and
is looking to grow rapidly
• Ten year trade mark agreement with Yang Sing
• Trial listings secured with two major supermarkets
• Readybuy will provide McDonald Yang with the working capital necessary
to advance to the next stage of its strategy and sell its products to
multiple retailers and supermarkets
• Following the Placing, the Group will have net cash of approximately
£900,000
• The Company's Nominated Adviser and Broker is W.H. Ireland Limited
Colin Davies, Chairman of Readybuy, commented:
'The majority of chilled Chinese ready meals are currently sold under retailers'
own labels and we believe there is an opportunity for a brand to enter the
chilled Chinese foods market.
We aim to manufacture ready meals of a superior quality to those currently
available, which can be either microwaved or heated through conventional
cooking, and to distribute the products under the Yang Sing brand through major
supermarkets.
Admission of the Company's securities to AIM will now afford us the opportunity
to develop the business and start to realise its potential.'
Enquiries:-
Readybuy plc. Colin Davies, Chairman and Finance Director, Tel: 0161 877 6050
Mob: 07767 274412
W.H. Ireland Ltd. David Youngman, Deputy Chief Executive, Tel: 0161 832 6644
Beattie Financial. Brian Coleman-Smith / Amanda Sheehy Tel: 020 7398 3300
The information contained herein is restricted and is not for release or
distribution in or into the United States of America, Canada, Australia, the
Republic of South Africa, the Republic of Ireland or Japan.
This press release has been issued by Readybuy plc and is the sole
responsibility of Readybuy plc and has been approved for the purposes of Section
21 of the Financial Services and Markets Act 2000 by W.H. Ireland Limited ('W.H.
Ireland') of 11 St James's Square, Manchester, M2 6WH. W.H. Ireland, which is
regulated by the Financial Services Authority, is acting as the nominated
adviser for Readybuy plc and will not be responsible to any other person for
providing the protections afforded to clients by W.H. Ireland or for providing
advice regarding the Placing.
This document does not constitute an offer or invitation to purchase or
subscribe for any securities of Readybuy plc and should not be relied on in
connection with any decision to purchase or subscribe for any such securities.
The securities referred to herein have not been nor will be registered under the
United States Securities Act of 1933 (as amended) nor under the securities
legislation of any state of the United States of America or of any province or
territory of Canada, Australia, the Republic of South Africa, the Republic of
Ireland or Japan or in any country, territory or possession where to do so may
contravene local securities law or regulations. Accordingly, these securities
may not, subject to certain exceptions, be offered or sold directly or
indirectly in or into the United States of America, Canada, Australia, the
Republic of South Africa, the Republic of Ireland or Japan or to any national,
citizen or resident of the United States of America, Canada, Australia, the
Republic of South Africa, the Republic of Ireland or Japan.
This information is provided by RNS
The company news service from the London Stock Exchange