NEWS & MEDIA

Rockpool Acquisitions Plc – Admission to Trading on the London Stock Exchange

12 July 2017

Rockpool Acquisitions Plc, a Special Purpose Acquisition Company (“SPAC”) founded in Northern Ireland and formed to undertake the acquisition of a company or business headquartered or materially based in Northern Ireland, is pleased to announce that its entire Ordinary Share capital of 12,725,003 Ordinary Shares has been admitted to the Standard Listing segment of the Official List of the Financial Conduct Authority and to trading on the London Stock Exchange’s main market for listed securities (“Admission”).  Dealings will commence at 08:00 under the TIDM code ROC.

 

The Company raised a total of £1.235m before coming to the market.

 

Mike Irvine, co-founder and Non-Executive Director at Rockpool, said:  “The successful Admission of Rockpool to the Standard List represents a great opportunity to bring much needed expansion capital to the Northern Ireland market.

 

“Now that the Company is trading on the London Stock Exchange, the Board will refine its list of potential Northern Ireland based businesses suitable for acquisition and intends to conclude its initial transaction within 12 months.

 

“The region has a wealth of fast-growing companies, run by strong management teams, that could benefit from access to the significant pools of capital that a Listing on a world leading stock exchange can offer.”

 

Rockpool is only the third Northern Ireland-based business listed on the London Stock Exchange.

 

Shard Capital Partners LLP is the Company’s broker.  McCarthy Denning are solicitors to the Company.

 

 

Rockpool key points   

 

The Company has been formed to undertake an Acquisition of a target company or business with an international outlook headquartered of materially based in Northern Ireland

 

In assessing potential Acquisitions, the factors which the Board will pay particular attention to include the following:

 

  • whether the target’s success can be replicated in other markets;
  •    whether it would benefit from the injection of growth capital or additional working capital and, if so, how much;
  • whether it has a sustainable competitive advantage or a unique selling proposition, perhaps arising from a compelling asset that can be exploited over the long term, or a product or service that is in high demand; and
  •  the ability of the Acquisition to provide the potential for a significant return for the Company’s Shareholders via a sale of the target to a trade or financial buyer within a reasonable timeframe (3 to 4 years) or through considerable growth in value of the target resulting in a significant increase in the value of the Company’s shares and in the volume of trading in those shares;

 

There is no specific target value for Acquisitions, although it is likely that the Company will be targeting Acquisitions up to £20 million of companies or businesses that could benefit from at least £1 million of additional working or growth capital.  The Company expects to undertake the first Acquisition within a period of twelve months from the date of Admission.

 

The Company’s intention is to acquire 100% ownership of targeted companies or businesses but it will also consider acquiring a minority stake if the Board believes such an opportunity to be in the best interest of the Shareholders.

 

The Board comprises Richard Beresford, Mike Irvine and Neil Adair who collectively have a proven track record of raising money for privately-owned companies and businesses based in Northern Ireland, advising on and making acquisitions, and operating and growing a wide diversity of businesses.

 

Defined terms in this announcement which are not defined herein shall have the same meanings as in the Prospectus.

For more information:

 

  Rockpool Acquisitions Plc 
  Mike Irvine, Non-Executive Director Tel: +44 (0)28 9044 6733
  Neil Adair, Non-Executive Director http://rockpoolacquisitions.plc.uk
  Richard Beresford, Non-Executive Chairman 

 

 

  Shard Capital Partners LLP (Broker) 
  Damon Heath / Eric WoolgarTel: +44 (0)20 7186 9952

 

 

  Abchurch (Financial PR)  
  Julian Bosdet / Alejandra Campuzano / Dylan MarkTel: +44 (0)20 7398 7741
 Rockpool@abchurch-group.com

 

 

 

 

Notes to Editors:

Rockpool Acquisitions Plc, a Special Purpose Acquisition Company based in Northern Ireland, whose shares have been admitted to the Official List of the London Stock Exchange by way of a Standard Listing, was formed to undertake the acquisition of a company or business headquartered, or materially based in Northern Ireland with the valuation of up to £20 million.  Once the first acquisition is completed, the Company may consider further complementary acquisitions.

 

Rockpool will focus on targeting an acquisition with the potential to grow to a substantial market capitalisation or, in due course, to be attractive to an industry or financial buyer.  The objective of the Company following completion of an acquisition will be to inject additional capital to facilitate the expansion of that business.

 

The Directors are of Northern Irish origin and have over 60 years’ combined experience of the local market.  Between them they have considerable industry, acquisitions, legal, public markets and financial and operational experience, with good access to potential targets.  The Directors believe that Rockpool’s ability to provide access to significant amounts of additional capital will be the key element in being able to attract a suitable target for acquisition.  It is likely that the acquisition, which Rockpool aims to make within twelve months of Admission, will be treated as a Reverse Takeover requiring the publication of a prospectus and an application to be re-admitted to the Official List of the London Stock Exchange.

 

Access to capital is a real issue for many fast-growing Northern Ireland businesses.  The Directors believe that there will be a number of businesses attracted to the prospect of raising capital through a listed cash-shell vehicle and will actively approach Rockpool seeking a reverse takeover.

 

 

For more information about Rockpool, please visit http://www.rockpoolacquisitions.plc.uk

 

This information is provided by RNS

The company news service from the London Stock Exchange

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