13 August 2007
The London Stock Exchange is delighted to welcome American Leisure Group Limited to AIM.
American Leisure Group Limited (ALG) is a vacation resort group currently developing 121 acres of land, with a programme to develop its further 395 acre landbank in three main locations, all in close proximity to the Disney theme parks in Orlando, Florida. In aggregate, over 7,000 resort units are planned by the Group to be developed on these sites. The finished resorts will have a range of leisure facilities and will be able to cater for a potential 300,000 families each year.
Admission to trading follows a placing of the company's ordinary shares, which raised £75 million before expenses at the placing price of 120 pence per share. The company will have a market capitalisation of £204 million based on the placing price.
Malcolm Wright, Chief Executive Officer of ALG, said: ““We are delighted with the significant interest from our new institutional shareholders, who have demonstrated their tremendous confidence in American Leisure Group. To have raised £75 million in such a difficult market for new issues is particularly gratifying and reflects their belief in the strength of our proposition.”
Dawnay, Day Corporate Finance Limited is acting as Nominated Adviser and Collins Stewart Europe Limited is acting as Broker to the company.