Schedule One - AdvancedAdvT Limited

AIM

22 December 2023

 

ANNOUNCEMENT TO BE MADE BY THE AIM APPLICANT PRIOR TO ADMISSION IN ACCORDANCE WITH RULE 2 OF THE AIM RULES FOR COMPANIES ("AIM RULES")

COMPANY NAME:

AdvancedAdvT Limited (the "Company", and its subsidiaries from time to time being the "Group") (AIM: ADVT)

COMPANY REGISTERED OFFICE ADDRESS AND IF DIFFERENT, COMPANY TRADING ADDRESS (INCLUDING POSTCODES) :

Commerce House Wickhams Cay 1 P.O. Box 3140, Road Town VG1110 Tortola British Virgin Islands 11 Buckingham Street London WC2N 6DF United Kingdom

COUNTRY OF INCORPORATION:

British Virgin Islands

COMPANY WEBSITE ADDRESS CONTAINING ALL INFORMATION REQUIRED BY AIM RULE 26:

www.advancedadvt.com

COMPANY BUSINESS (INCLUDING MAIN COUNTRY OF OPERATION) OR, IN THE CASE OF AN INVESTING COMPANY, DETAILS OF ITS INVESTING POLICY).  IF THE ADMISSION IS SOUGHT AS A RESULT OF A REVERSE TAKE-OVER UNDER RULE 14, THIS SHOULD BE STATED:

The Company was incorporated on 31 July 2020 in accordance with the laws of the British Virgin Islands with an indefinite life and is domiciled in the United Kingdom (i.e. the Company is tax resident in the United Kingdom by virtue of being centrally managed and controlled in the United Kingdom). The Company was admitted to trading on the standard listing segment of the Official List of the London Stock Exchange on 4 December 2020. The Group's strategy is centred around backing sectors characterised by long term digitisation trends, that are in early stages of adoption and set to transform the workplace for professionals for the next few decades. Embracing a long-term perspective, the aim is to build a lasting and thriving business. This thinking shapes how investment is deployed on both M&A and within the platform businesses, in order to develop relationships with clients and partners and with a strategy centred around business and digital transformation and continuous improvement. This strategy revolves around evaluating high-quality businesses in the pipeline, based on a set of key characteristics. These characteristics align with the management team's vision and will enable businesses to consistently generate long-term value. The Company seeks businesses with:  •           high recurring revenue streams and good forward visibility; •           sticky customer retention; •           mission critical products and services; •           sectors with high barriers to entry; •           opportunities for both organic and inorganic growth; •           strong cash generation; and •           highly fragmented industries with opportunities for consolidation. On 8 June 2023, the Company announced the conditional agreement to acquire 5 companies from Capita plc for a combined enterprise value of approximately £33 million in cash. In addition to organic growth, the Board believes that the acquisitions will create a platform to develop the Company by exploring growth opportunities in synergistic sectors and by targeted investment and M&A activities. On 31 July 2023, the acquisitions had completed. On 21 November 2023, ADV Holding Group Limited, a subsidiary of the Company, entered into an agreement for the sale of one of the five companies acquired, Synaptic Software Ltd, to Fintel IQ Limited in order to enable the business to have a more strategically aligned owner. The disposal is conditional upon, inter alia, the approval of the change of ownership by the FCA. Subsequent to the disposal, the four companies operate across two fundamental business transformational areas: business solutions and human capital management. Through these core specialisms, the Group delivers innovative software solutions and a platform that enables businesses and organisations to succeed in today's dynamic landscape whilst providing an enabler for digital transformation.

DETAILS OF SECURITIES TO BE ADMITTED INCLUDING ANY RESTRICTIONS AS TO TRANSFER OF THE SECURITIES (i.e. where known, number and type of shares, nominal value and issue price to which it seeks admission and the number and type to be held as treasury shares):

Name and nominal value of the securities: ordinary shares of no par value in the capital of the Company ("Ordinary Shares"). Number of Ordinary Shares on Admission: 133,200,000 Issue price per Ordinary Share: The Ordinary Shares were suspended from trading on 8 June 2023 at a price of 82 pence There are no restrictions as to the transfer of the Ordinary Shares. No Ordinary Shares will be held in treasury on Admission.

CAPITAL TO BE RAISED ON ADMISSION (AND/OR SECONDARY OFFERING) AND ANTICIPATED MARKET CAPITALISATION ON ADMISSION:

Total capital to be raised on Admission: Nil Anticipated market capitalisation on Admission: c. £109 million (based on the pre suspension price of 82 pence per Ordinary Share)

PERCENTAGE OF AIM SECURITIES NOT IN PUBLIC HANDS AT ADMISSION:

43.57%

DETAILS OF ANY OTHER EXCHANGE OR TRADING PLATFORM TO WHICH THE AIM SECURITIES (OR OTHER SECURITIES OF THE COMPANY) ARE OR WILL BE ADMITTED OR TRADED:

Not applicable.

FULL NAMES AND FUNCTIONS OF DIRECTORS AND PROPOSED DIRECTORS (underlining the first name by which each is known or including any other name by which each is known):

Vinodka ("Vin") Murria OBE (Executive Chairperson) Gavin John Hugill (Chief Financial Officer) Karen Louise Chandler (Chief Operating Officer) Mark Irvine John Brangstrup Watts (Non-Executive Director) Paul David Gibson (Independent Non-Executive Director) Barbara Ann Firth (Senior Independent Non-Executive Director)

FULL NAMES AND HOLDINGS OF SIGNIFICANT SHAREHOLDERS EXPRESSED AS A PERCENTAGE OF THE ISSUED SHARE CAPITAL, BEFORE AND AFTER ADMISSION (underlining the first name by which each is known or including any other name by which each is known):

Shareholder % of issued share capital prior to Admission % of issued share capital on Admission Marwyn Investment Management 15.41% 15.41% BGF Investment Management Limited 15.02% 15.02% Vin Murria OBE & Sunil Bhalla 13.14% 13.14% Artemis Investment Management 8.07% 8.07% CRUX Asset Management 6.19% 6.19% Amati Global Investors Limited 6.01% 6.01% Investec Wealth & Investment 5.30% 5.30% Gresham House Asset Management Limited 5.06% 5.06% Chelverton Asset Management Limited 4.50% 4.50% Canaccord Genuity Group Inc 3.34% 3.29%

NAMES OF ALL PERSONS TO BE DISCLOSED IN ACCORDANCE WITH SCHEDULE 2, PARAGRAPH (H) OF THE AIM RULES:

None.

(i)         ANTICIPATED ACCOUNTING REFERENCE DATE (ii)        DATE TO WHICH THE MAIN FINANCIAL INFORMATION IN THE ADMISSION DOCUMENT HAS BEEN PREPARED (this may be represented by unaudited interim financial information) (iii)       DATES BY WHICH IT MUST PUBLISH ITS FIRST THREE REPORTS PURSUANT TO AIM RULES 18 AND 19:

(i)   30 June, but to be changed to 28 February from Admission (first period will be to 29 February 2024) (ii)  30 June 2023 (iii) 31 March 2024 (unaudited interim results for the 6 months to 31 December 2023) 31 August 2024 (audited consolidated annual report for the eight months to 29 February 2024) 30 November 2024 (unaudited interim results for the 6 months ended 31 August 2024)

EXPECTED ADMISSION DATE:

10 January 2024

NAME AND ADDRESS OF NOMINATED ADVISER:

Singer Capital Markets Advisory LLP 1 Bartholomew Lane London EC2N 2AX

NAME AND ADDRESS OF BROKER:

Singer Capital Markets Securities Limited 1 Bartholomew Lane London EC2N 2AX

OTHER THAN IN THE CASE OF A QUOTED APPLICANT, DETAILS OF WHERE (POSTAL OR INTERNET ADDRESS) THE ADMISSION DOCUMENT WILL BE AVAILABLE FROM, WITH A STATEMENT THAT THIS WILL CONTAIN FULL DETAILS ABOUT THE APPLICANT AND THE ADMISSION OF ITS SECURITIES:

A copy of the Admission Document containing full details about the applicant and the admission of its securities will be available on the Company's website at: https://advancedadvt.com

THE CORPORATE GOVERNANCE CODE THE APPLICANT HAS DECIDED TO APPLY

The Quoted Companies Alliance (QCA) Corporate Governance Code.

DATE OF NOTIFICATION:

22 December 2023

NEW/ UPDATE:

NEW

 

END