Tekcapital plc First Day Of Dealings (0140E)
04 Avril 2014 - 9:00AM
UK Regulatory
TIDMTEK
RNS Number : 0140E
Tekcapital plc
04 April 2014
4 April 2014
TEKCAPITAL PLC
("Tekcapital", the "Company" or the "Group")
FIRST DAY OF DEALINGS AND ADMISSION TO TRADING ON AIM
Tekcapital plc, an international provider of technology and IP
services, is pleased to announce the commencement at 08.00 today of
dealings in its Ordinary Shares on AIM, a market operated by London
Stock Exchange plc.
Admission Details
-- Gross proceeds to the Group of GBP2 million, through the
placing of 8 million new shares at a price of 25 pence per Ordinary
Share (the "Placing Price").
-- The total number of Ordinary Shares in issue at Admission is
22,503,977,giving the Group a market capitalisation of GBP5.6
million at the Placing Price.
-- The Group intends to use the net proceeds of the Placing to
accelerate the growth of the Group's sales, marketing and delivery
of services, in particular through the expansion of the Company's
sales and marketing team; the development of additional technology
indexing algorithms and the recruitment of additional support
staff; general working capital purposes; and for IPO costs.
-- The Group's trading symbol is TEK and the Group's ISIN code is GB00BKXGY798.
Northland Capital Partners Limited is acting as Nominated
Adviser and Joint Broker to the Company and Optiva Securities
Limited as Joint Broker.
Commenting on the successful Placing and Admission to AIM, Dr
Clifford Gross, Executive Chairman of Tekcapital plc, said:
"I am delighted to have successfully completed our fundraising
and admission to AIM and welcome on board our new institutional
shareholder base. We have strong foundations already in place,
which include the development of our Innovation Discovery Network
which is connected to over 3,300+ universities and research
institutionsin over 160 countries, combined with a first rate
Science Advisory Board. Capturing innovation developed by some of
the world's leading universities and research institutions is the
core of Tekcapital's strategy. We work across technology sectors
and are aligned and driven by our client's need for rapid
innovation and intellectual property protection. Together, we
assist our customers around the world, to rapidly find, review and
acquire the intellectual property they need to advance their
businesses.
"Tekcapital has a bright future ahead of it and our team is
looking forward to delivering on the market-driven strategy that we
have laid out to create value for our clients, university suppliers
and shareholders."
For further information please contact:
Tekcapital Plc via FTI Consulting, LLP
Clifford Gross, Executive Chairman
Malcolm Groat, Finance Director
Northland Capital Partners Limited (NOMAD
& Broker) +44 (0) 20 7382 1100
Louis Castro / Lauren Kettle (Corporate
Finance)
John Howes / Alice Lane (Corporate Broking)
Optiva Securities Limited (Co-Broker) +44 (0) 20 3137 1904
Jeremy King / Vishal Balasingham
FTI Consulting, LLP +44 (0) 20 7831 3113
Chris Lane / Emma Appleton / Roger Newby
* * * * *
About Tekcapital plc
-- Tekcapital is an international technology and intellectual
property ("IP") services company. Using its technology, the Group
is able to source university discoveries and intellectual property
from over 3,300 universities and research institutions located in
over 160 countries. The Group seeks to enable its clients to
innovate faster and protect their core products or services by
identifying relevant cutting-edge technology and intellectual
property acquisition opportunities which have been developed by
leading universities and research institutions.
-- The Group has developed an innovation discovery network
("IDN") which is capable of searching through a defined global
database of universities and research institutions to identify IP
acquisition opportunities relevant to the client's search
parameters.
-- Tekcapital is able to provide its retained clients with a
complete turnkey solution to locate, screen and acquire
technologies available for acquisition or licence from some of the
world's leading universities and research institutions. Once a
suitable technology acquisition opportunity has been identified and
presented to the client in a monthly advisory report, the Company
can evaluate the IP through its science advisory board; a group of
expert advisers from a range of academic and professional
backgrounds (the "Science Advisory Board"). Tekcapital can then act
as an intermediary between the client and the university or
research institution with a view to the acquisition or licensing of
the specific technology.
-- The Directors estimate that, from a technology supply
perspective, the market for IP acquisitions is approximately GBP4.5
billion per year. This is based on an average patent purchase price
of GBP222,500 and an estimated 20,000 technology transfers being
completed world-wide in 2012.
-- The market for university or research institution developed
IP is benefitting from the global trend for businesses to outsource
research and development. This use of external research and
development has coincided with an increase in the pace of
innovation and an increase in the number of patent lawsuits. As a
result, many companies are now seeking to identify and to acquire
IP from external or alternative sources to protect and grow their
respective businesses. New legislation, for example The Patent Box
tax law 2013 in the U.K., a tax relief which enables companies to
apply a lower rate of corporation tax on profits earned from
patented inventions, has also increased interest in IP given the
potential for companies to benefit from increased innovation and
profits.
-- The Group's Board and senior management team have a strong
track record across multiple sectors and have significant expertise
in the IP and technology transfer industries, having completed over
400 transactions in previous engagements.
-- The Directors believe that the Placing and Admission will
enable the Company to more quickly and more effectively pursue its
strategy for growth. Aided by the funds raised from the Placing,
the Directors believe that Tekcapital is well positioned to assist
its current and future clients to efficiently source and acquire
relevant university technologies and intellectual properties to
both protect their existing market position and to innovate to
secure further growth.
Ends
This information is provided by RNS
The company news service from the London Stock Exchange
END
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