Calnex Solutions: First day of dealings following oversubscribed placing

5th October 2020 | Calnex Solutions PLC

Calnex Solutions plc (AIM: CLX), an established provider of test and measurement solutions for the global telecommunications sector, is pleased to announce the admission today of its new and existing ordinary shares of 0.125 pence each (“Ordinary Shares”) to trading on the AIM market of the London Stock Exchange (“Admission”). Dealings in the Ordinary Shares will commence today at 8.00 a.m. under the ticker “CLX” and the ISIN “GB00BMBK7016”. Cenkos Securities plc (“Cenkos”) is acting as Nominated Advisor and Broker to the Company.

The Company has successfully raised £22.5 million (before expenses) by way of a significantly oversubscribed placing of 46,875,000 new and existing Ordinary Shares (the “Placing”), at a price of 48.0 pence per share (the “Placing Price”). Calnex’s market capitalisation at the Placing Price on admission will be £42 million.

Placing Statistics:

Placing Price per ordinary share – 48 pence

Gross proceeds of the Placing – £22.5 million

Free float – 43%

Gross proceeds of the Placing receivable by the Company – £6.0 million

Gross proceeds of the Placing receivable by the selling shareholders – £16.5 million

Number of Ordinary Shares in issue immediately following Admission – 87,500,000

Market capitalisation of the Company at the Placing Price – £42.0 million

Tommy Cook, Chief Executive Officer and founder of Calnex, said:

“Joining AIM today is a significant landmark for Calnex. The successful fundraise and move onto the public markets provides us with the resources to expand our product portfolio, both organically and through acquisition, to take advantage of the significant structural changes taking place in the global telecoms industry.

“I would like to take this opportunity to thank the Calnex team for all their hard work through the years, our existing shareholders for their ongoing support, and to welcome our new shareholders to the register.

“With many of the world’s leading players in the telecoms market on our client roster, a proven track record in innovation, strong financial position and global distribution capability, we are confident in our ability to capitalise on the opportunities ahead.”

VIDEO: Calnex Solutions

Calnex Solutions Video

Calnex Solutions Investor Videos from Five Minute Pitch TV

Click here to view Calnex Solutions investor relations films