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Jellybook Limited (JELY)

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Wednesday 22 June, 2011

Jellybook Limited

Admission to trading on AIM

RNS Number : 8690I
Jellybook Limited
22 June 2011



This announcement does not constitute or form part of any offer for sale or subscription of or solicitation of any offer or any invitation to buy or subscribe for any securities, and neither this announcement nor any part of it shall form the basis of or be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.


This announcement, for regulatory purposes, is an advertisement and not a prospectus or admission document.  Investors should not purchase or subscribe for any transferable securities referred to in this announcement except on the basis of information in the admission document to be published by Jellybook Limited in connection with the admission of the ordinary shares to trading on the London Stock Exchange plc's AIM market.


Jellybook announces its

Admission to trading on AIM


London, Luxembourg, 22 June, 2011


Jellybook Limited, ("Jellybook" or the "Company") is pleased to announce the admission of Jellybook's shares to trading on the AIM market of the London Stock Exchange ("Admission"), with first dealings expected to commence at 8.00am today. The shares will trade under the ticker symbol "JELY".


Jellybook is a newly incorporated investment company focussing on the social media sector, with the objective of acquiring or investing in businesses in the sector, particularly those companies with both digital media and social networking capabilities.


Details of the placing

·     Jellybook placed 110 million new ordinary shares at a price of £0.10 per share, raising a total of £11.0 million, 3.7 times the original underwritten amount

·     The placing means that Jellybook lists today with a market capitalisation of  approximately £17.1 million

·     The initially projected £3.0 million minimum placing sum was underwritten by Banque Havilland SA

·     The nominated adviser, broker and joint bookrunner is Allenby Capital Limited, with Banque Havilland SA as partial underwriter and joint bookrunner.

Jonathan Rowland, Chairman of Jellybook, said:

"We are delighted that the investment community shares our excitement about Jellybook and its investment proposition. We believe we will provide a real opportunity for UK investors, both institutional and retail, to invest in the social media sector. We are actively seeking out the best companies in the sector to provide our chosen target with both growth capital and sector expertise, as well as to giving our investors their desired access to this fast-growing sector. We look forward to bringing you more news on our strategy in due course."


Maitland                                +44 (0) 20 7379 5151

Neil Bennett
Sarah Hamilton

Dan Yea 

Allenby Capital Limited       +44 (0) 20 3328 5656


Corporate Finance

Imran Ahmad

Alex Price

Dan Robinson


Equity Sales

Graham Bell

Alex Davies

Notes to Editors

Background and the investment case


In recent years, the rise in the popularity of social media can be evidenced by the rise of  three recognised and popular brands, Facebook, YouTube and Wikipedia, all being social-media related:


·     in April 2010, over 110 billion minutes were collectively spent on social networks and blog sites.  This equated to 22% of all time spent online or one in every four and half minutes.

·     in April 2010, three quarters of global consumers who went online visited social networking or blog sites, after the numbers of people visiting these sites increased by 24% over the previous 12 months.

·     in April 2010, the average visitor spent 66% more time on these sites - almost 6 hours versus 3 hours, 31 minutes in April 2009.

Despite this growth in popularity, the directors believe that, as a consequence of market conditions in the last few years, many businesses operating in the social media sector have nevertheless found it difficult to access capital unless they are of a significant size.  As a result, they believe that an opportunity currently exists for Jellybook to acquire or invest in companies operating in the social media sector that have the potential to exploit this growth but that have been unable to attract investment.


Jellybook's investment focus will be on companies that are involved in both digital media and social networking, in particular companies that are offering solutions using existing social media platforms. The Company will not be limited to a particular niche of social media or geographic region, however, given the directors' particular European expertise, they believe Jellybook will be well positioned to consolidate opportunities in Europe.


The directors and management


Jonathan Rowland, Chairman, age 36

Jonathan was appointed as a director of the Company on 16 March 2011.  Jonathan is currently Chief Executive Officer of Banque Havilland in Luxembourg, which has a full European Banking Licence, issued by the Commission de Surveillance du Secteur Financier. Banque Havilland was created out of some of the assets and liabilities of Kaupthing Bank Luxembourg and Jonathan was instrumental in the formation of the bank, which is owned by the Rowland family. Jonathan was also founder director and Chief Executive of Jellyworks plc from its flotation at 5 pence per share in December 1999 until it was purchased by Shore Capital Group plc in August 2000 at 29.5 pence per share.  He spent the preceding five years as an executive of Rowland Capital Limited. Jonathan has a wide investment experience and, over the last 18 years, has focused on listed investments, private equity and assisting companies with restructuring and financial advice.  His principal role has been to identify and evaluate such investments.  He has been a director of a number of AIM companies in the last 12 years. Jonathan is also a non-executive director of Blackfish Capital Management Limited, an FSA-registered investment manager.


Michael Wright, Chief Executive Officer, age 39

Michael was voted in 2007 and 2008 by Dow Jones as a top 100 rising star under 40 years of age.  By background, he is a qualified English solicitor having practiced at leading law firms including Clifford Chance, McDermott, Will & Emery and O'Melveny & Myers. Michael worked on a number of mergers and acquisitions whilst a practising lawyer and has advised private equity firms on portfolio company acquisitions and disposals. Michael was Chief Executive of Towergate Capital plc, an investment bank, and led various investments including the lead investment and fundraising for DataArt, a spin out by the founders of Michael also co-led the acquisition of Kaupthing Bank Luxembourg (now Banque Havilland) and is Chairman of the "old" bank of the former Kaupthing entity (Pillar Securitisation S.à.r.l.) on behalf of 28 banks, two governments and the Association pour la Garantie des Depots Luxembourg.  Michael is on the board of several companies including Corporal Limited (Hamleys) and Formosa Twenty8k plc.

Julie Meyer, Non-Executive Director, age 44

Julie was appointed a director of the Company on 1 June 2011. Julie founded Ariadne Capital in August 2000 to create a new model for the financing of entrepreneurship in Europe. Since 1988, she has completed transactions valued at over £300 million in aggregate in European technology, media and telecoms firms. In March 2011, she completed the sale of BeatThatQuote to Google for £37.7 million. Julie was part of the early team at NewMedia Investors in 1998, which became early stage investment firm Spark Ventures in October 1999. At NewMedia Investors, she managed deals in technology companies including ArcCores, and WGSN. She also founded First Tuesday, the network of entrepreneurs which was sold in July 2000 for $50 million. She has been named one of INSEAD's Top 50 Alumni, Ernst & Young Entrepreneur of the Year, World Economic Forum Global Leader of Tomorrow, TIME Magazine Digital 50 and one of the Top 30 Most Influential Women in Europe. Julie is also one of the BBC's Online Dragons in the award-winning Dragon's Den Online. She is on the board of directors of INSEAD, and also Vestergaard Frandsen, a for profit humanitarian development firm.

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