16 May 2008
The London Stock Exchange is delighted to welcome TGE Marine Ltd to AIM.
TGE Marine AG is a leading provider of turnkey solutions for the engineering design, procurement and construction supervision of marine gas handling and storage systems as well as vessel designs.
To date, TGE has supplied gas handling and storage systems for in excess of 100 gas carriers in more than 20 shipyards in Europe, Asia and South America. In particular, the company has been active in China since 1989 and has acted as the engineering provider to every Chinese-built IGC compliant gas carrier delivered to date.
The Company is raising approximately £21.3million (€26.96 million) through the placing and it is the intention that the proceeds raised from the placing will be used for the repayment of debt.
In addition, due to the positive response to the issue and the desire for increased liquidity approximately £42.11 million (€53.30 million) net of expenses has been raised on behalf of existing shareholders who have sold a portion of their interests. The total shares in public hands immediately following admission amounts to 42.44%.
Kaupthing Singer & Friedlander Capital Markets Limited is acting as the Company’s nominated adviser and broker in relation to the placing and admission.