Admission to trading on AIM

RNS Number : 5432W

CT Automotive Group PLC

23 December 2021

 

For immediate release

23 December 2021

CT AUTOMOTIVE GROUP PLC

ADMISSION TO TRADING ON AIM AND FIRST DAY OF DEALINGS

CT Automotive Group plc ("CT Automotive" or the "Company") , a leading designer, developer and supplier of interior components to the global automotive industry, is pleased to announce the admission of its entire issued share capital to trading on the AIM market of the London Stock Exchange. Admission will take place and dealings will commence in the Ordinary Shares at 8.00 a.m. today under the ticker "CTA" and ISIN GB00BMHYGR77.

Liberum Capital Limited ("Liberum") is acting as Nominated Adviser, sole bookrunner and sole broker in relation to the Placing and Admission.

The Company's admission document (the "Admission Document") is available to view at the Company's website https://ct-automotive.net/ , subject to certain restrictions in restricted jurisdictions.  Capitalised terms used in this announcement have the same meanings as in the Admission Document.

Simon Phillips, Founder and Chairman of CT Automotive, commented:

"Today is an important landmark for CT Automotive as we enter the next exciting stage of our growth as a quoted company on AIM. As one of the few trusted manufacturers of interior car parts for some of the world's biggest automotive brands we have long-term agreements in place and are well placed to benefit as automotive production volumes recover. Our IPO enables us to invest further in the growth of the business, and we are excited by the opportunities ahead."

"I would like to welcome our new shareholders and look forward to undertaking this new chapter with them, as we strive to build on our strong track record of growth, client relationships and manufacturing excellence."

For further information, please contact:

CT Automotive via Engine MHP

Simon Phillips, Founder and Executive Chairman

Scott McKenzie, Chief Executive Officer

David Wilkinson, Chief Financial Officer

Engine MHP (Financial PR)    Tel: [phone]

Tim Rowntree   [e-mail]

Charlie Barker

Alex Janiaud

Liberum (Nominated Adviser, Sole Bookrunner and Sole Broker)          Tel: [phone]

Richard Lindley

Benjamin Cryer

Chris Whitaker

Notes to editors

CT Automotive is engaged in the design, development and manufacture of bespoke automotive interior finishes (for example dashboard panels and fascia finishes) and kinematic assemblies (for example air registers, arm rests, deployable cup holders and storage systems), as well as their associated tooling, for the world's leading automotive original equipment suppliers ("OEMs") and global Tier One manufacturers.

The Company is headquartered in the UK with a low-cost manufacturing footprint. Key production facilities are located in Shenzhen and Ganzhou, China complemented by additional manufacturing facilities in Turkey, the Czech Republic and the UK.

CT Automotive's operating model enables it to pursue a price leadership strategy, supplying high quality parts to customers at a lower overall landed cost than competitors. This has helped the Company build a high-quality roster of OEM end customers, both directly and via Tier One suppliers including Faurecia and Marelli. End customers include volume manufacturers, such as Nissan, and luxury car brands such as Bentley and Lamborghini. In addition, the Group supplies electric car manufacturers, including Lucid. It has also recently started working with e.Go Mobile, a German manufacturer which plans to launch a series of small electric vehicles for the budget end of the market.

The Company currently supplies component part types to over 45 different models for 17 OEMs and delivered over four million systems in the 12 months to 31 December 2020. Since its formation, the Company has been the only significant new entrant into the market, which is characterised by high barriers to entry.

  IMPORTANT NOTICES

Liberum, which is authorised and regulated by the Financial Conduct Authority in the United Kingdom, is acting exclusively for the Company and no-one else in connection with the Placing and Admission. Liberum will not regard any other person as its client in relation to the Placing and Admission and will not be responsible to anyone other than the Company for providing the regulatory protections afforded to its clients, nor for providing advice in relation to the contents of this announcement or any transaction, arrangement or other matter referred to herein.

Neither Liberum, nor any of its directors, officers, employees, advisers or agents accepts any responsibility or liability whatsoever for or makes any representation or warranty, express or implied, as to the truth, accuracy or completeness of the information in this announcement (or whether any information has been omitted from this announcement) or any other information relating to the Group, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith.

Neither the content of the Company's website nor any website accessible by hyperlinks on the Company's website is incorporated in, or forms part of, this announcement.

 

END

 

 

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