21 June 2006
The London Stock Exchange is delighted to welcome May Gurney to AIM.
May Gurney is a dynamic integrated support and construction services company providing maintenance and enhancement services to the highways, rail, utilities and general infrastructure sectors.
The Placing was nearly 2 times oversubscribed, with 23,728,116 shares placed at 186 pence per share, raising £44.1 million in total, capitalising the Company at £130.6 million.
The Directors believe that admission to AIM will allow the Company to increase its profile within its markets and further enhance the Company’s status with both current and future customers, raise new capital to facilitate growth and enable selective acquisitions in the UK’s consolidating support services market place, facilitate the Company’s ability to recruit and incentivise key personnel, and provide liquidity for existing shareholders and an active market for May Gurney shares.
David Sterry, Chief Executive of May Gurney, said:
“We are delighted that the offering has been so well received by institutions, particularly in light of recent volatile market conditions. We look forward to pursuing the exciting growth opportunities that exist in our chosen markets and continuing the excellent performance we have achieved in recent years.”
Altium Capital Limited acts as nominated adviser and broker to the Company.
