19 November 2008
The London Stock Exchange congratulates Lamprell plc on it’s move from AIM to the Main Market.
Lamprell is a leading contractor in the Arabian Gulf, providing specialist services to the offshore and onshore oil and gas industry.
The Group successfully joined AIM in October 2006 and has grown significantly, increasing revenues from US$209.2m to $467.3m between the years ended 31 December 2005 and 31 December 2007. Lamprell won the “Best Newcomer to the AIM Market” award in 2007.
At the time of its IPO the Directors stated that they intended to consider a transfer of the to the Main Market. On 6 November 2008, Admission on the Main Market became effective as Directors believed the Main Market to be a more appropriate platform than AIM for the continued growth of the Group.
Lamprell’s strong growth over the last three years has been driven by buoyant conditions in the oil and gas industry. In addition, the Group has increased in capacity with the opening of the Hamriyah Facility in 2007 and in May 2008, Lamprell announced it was expanding into Thailand.
JPMorgan Cazenove acted as Sole Sponsor and Broker to the listing.