London Stock Exchange welcomes RM2
London Stock Exchange today welcomes RM2 to the AIM Market.
RM2 specialises in pallet development, manufacture, supply and management and was founded in 2007 to establish a disruptive presence in global pallet supply by improving the supply chain of manufacturing and distribution businesses through the use and management of composite pallets. The company has designed and manufactured the BLOCKPal, a multi-trip pallet made of a glass fibre and resin composite that is suitable for use in the supply chain of sectors such as fast moving consumer goods, food ingredients, pharmaceuticals and packaging.
Ian Molson, Chairman of RM2, commented:
“RM2 has brought together the technology, the innovation, the management and the logistics to be both the catalyst for, and the pivotal point of, a step-change in the market.”
John Walsh, Chief Executive Officer of RM2, said:
“Admission will give us the ability to turn a meticulously developed and tested pallet and logistics approach - for which we believe there is a clear demand - into an operation of real scale. With the funds raised we will expand our manufacturing capacity, and establish a pool of pallets which offer customers around the world a proposition that we believe is cost-effective, efficient, controllable and sustainable and which will provide RM2 and its shareholders with a high quality recurring revenue stream.”
RM2 raised gross proceeds of approximately £137.2 million to expand its production capacity and to fund the production of pallets for rental and sale.
Cenkos Securities plc is Nominated Adviser and broker to the Company.