11/07/2005 Jumpit opens the London markets
Jumpit opens the London markets
11 July 2005
Jumpit is focused on instant power management solutions for hand held devices, and is the first Norwegian company to join AIM. The company has successfully developed a series of innovative disposable and rechargeable batteries for mobile phones, iPods and other handheld devices for which it holds the intellectual property rights. Jumpit’s principal role is to manage the intellectual property rights of its portfolio of products. Research, manufacturing, marketing and distribution are all outsourced to long-term key partners. As a result, the company has positioned itself to benefit from the consumer take-up of hand held devices such as mobile phones and iPods.
Jumpit raised £3 million (before expenses) through a placing of approximately 7.5 million ordinary shares at 40p per share. The ticker symbol is JUM.L.
Commenting on the IPO Halvor Isaksen, Chief Executive, said:
“I am delighted that the fundraising has received such a positive response and I am looking forward to an active market developing in our shares. The funds raised will allow Jumpit flexibility in future R&D programmes, sales and marketing. Joining AIM also allows for the raising of the profiles of the individual brands and for providing the Group with the opportunity to expand through acquisition and organic growth. We look forward to Jumpit’s next exciting stage of development as a public company.”
Westhouse Securities LLP is the Nominated Adviser and Broker to Jumpit.