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Filta Group Holdings (FLTA)

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Friday 04 November, 2016

Filta Group Holdings

Admission and First Day of Dealings

RNS Number : 2585O
Filta Group Holdings PLC
04 November 2016
 

Filta Group Holdings plc

("Filta" or the "Company")

Admission and First Day of Dealings

Filta Group Holdings plc is pleased to announce its admission to trading on AIM today. Dealings in the Company's ordinary shares will trade under the TIDM "FLTA.L".

 

Filta is the provider of a number of services to national and independent commercial kitchen operators and owners. Its principle service is FiltaFry, which is the micro-filtration of cooking oil, the vacuum based cleaning of deep fryers and full Fryer Management. The Group's core business operations are within the UK and US. The US operations are exclusively operated as a franchise network, while the UK activities are operated under both franchise and direct sale business models.

 

Filta, through its FiltaFry franchise network, services over 5,000 commercial kitchens every week. As at 30 June 2016, the Group had 169 Franchise Owners, of which 130 were located in the US and 39 in the UK.

 

Further details can be found on the Company's website at http://filtaplc.com/.

Summary of the placing

·     The placing raised £6.2 million (gross), of which £4.3 million was raised by the Company to enter into new local markets (including Canada and Europe), expand into new product market, including drains and grease trap solutions and as general working capital and £1.9million was raised for a selling shareholder.

·     The number of ordinary shares in issue immediately after admission will be 26,952,659, giving the Company a market capitalisation of £22.4 million at the placing price of 83 pence per ordinary share.

·     Cenkos Securities is acting as Nominated Adviser and Broker to the Company.

 

Jason Sayers, CEO of Filta, commented: "Today marks an important milestone in the continued growth of Filta. Our listing allows us to accelerate the growth of our franchise network in the US and UK, the markets they serve and the services they provide. Further it allows the Group to continue to grow its direct services to assist commercial kitchen operators.  Our focus will continue to be on growing our recurring revenue base to create value for all shareholders."

 

04 November 2016

 

Enquiries:

 

Filta Group Holdings plc

Jason Sayers                                                                         Tel: 01788 550100

 

Cenkos Securities plc (NOMAD and Broker)

Bobbie Hilliam                                                                     Tel: 020 7397 8900 

Harry Pardoe


This information is provided by RNS
The company news service from the London Stock Exchange
 
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