On October 24th, 2007 Ninety PLC announced its flotation on AIM. At a placing price of 1p per ordinary share, the net proceeds of the placing were approximately £3.0 million for the Company. The proceeds will be used to provide the funds needed by the Company to identify and carry out due diligence on potential acquisitions. The market capitalisation at Admission was approximately £3.7 million.
This was the second investment company floated by Albany Capital plc and it retains a controlling interest of approximately 71 per cent.
June Paddock, Daniel Joll, Michael Kashis and Yasmina Hadded of Fasken Martineau Stringer Saul advised Ninety PLC on this matter.