30 September 2008
The London Stock Exchange is delighted to welcome Sorbic International plc to AIM.
Sorbic International’s principal activity is the production and sale of food preservatives from its production facility in Linyi City, Shandong Province in North East China. It is one of the largest producers of sorbic acid and potassium sorbate in the World, supplying clients in China and for a range of international companies including food and drink producers and pharmaceutical and cosmetic manufacturers across 46 countries. Sorbic joins AIM via a reverse takeover valuing the company at £17.3 million.
Commenting, John Mclean, Chairman of Sorbic International plc, said: “The Company has a strong market position in a growing international market where we have an impressive domestic and international customer base. We have a clear strategy to grow the business both organically and by acquisition.”
Finncap is Nominated Adviser and Broker to the Company. Solicitors to the Company are Stephenson Harwood in London and Jingtian & Gongcheng in Beijing. Eversheds are solicitors to the Nomad. Reporting Accountants and Auditors to the Company are Mazars LLP and PR/IR advisers to the Company are Hansard Group.