Outsourcery plc: Admission to trading on AIM Business Wire LONDON -- May 22, 2013 NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES OF AMERICA, CANADA, JAPAN, THE REPUBLIC OF IRELAND, THE REPUBLIC OF SOUTH AFRICA, AUSTRALIA OR NEW ZEALAND THIS ANNOUNCEMENT IS NOT A PROSPECTUS OR ADMISSION DOCUMENT AND DOES NOT CONSTITUTE AN OFFER TO SUBSCRIBE FOR OR PURCHASE ANY SECURITIES. 22 May 2013 Outsourcery plc Admission to trading on AIM Outsourcery plc (“Outsourcery” or the “Company”), the pure-play provider of Cloud-based IT and communications services (“ICT”), is to be admitted to AIM with a market capitalisation of £34.6 million. A Placing, arranged by Investec Investment Bank (“Investec”) with institutional and other investors, has raised approximately £13 million, before expenses. Trading in Outsourcery shares is expected to start on Friday 24 May 2013. The business *Outsourcery is one of few independent pure-play Cloud Service Providers (“CSPs”) and is establishing market leadership in the UK *Outsourcery is positioned to take advantage of the systemic market shift in the provisioning of ICT from an “on-premise” or “managed service” deployment model to a Cloud-based model *Outsourcery provides a wide range of Cloud-based IT and communications services via its network of partners to both larger enterprises and SMEs. Outsourcery has secured commercial relationships with companies such as Vodafone, Virgin Media Business, BT, HP and Atos to enable these and over two hundred smaller partners to deliver Cloud Services to their end-customers *The Group has won a number of notable direct customer contracts, including Pearson plc and London Business School *Outsourcery works closely with its partner network to deploy its Cloud Services to their end-customer base Admission details *Outsourcery will have a market capitalisation, at the placing price of 110p per share, of £34.6 million on Admission *Placing of 11,542,642 Ordinary Shares at 110p per share to raise: *£11.0 million, before expenses, to fund the Group to cash flow break-even *£1.7 million, before expenses, representing the realisation of capitalised loans *Dealings are expected to commence on AIM at 8.00am, Friday 24 May 2013. (Ticker symbol: OUT) *Investec is acting as Nominated Adviser and Broker and acted as sole book-runner on the Placing Key strengths *Outsourcery’s Cloud Services are deployed on its proprietary O-Cloud platform. The Directors estimate that the Group has invested approximately £30 million to date in developing its business and the O-Cloud platform *Outsourcery’s O-Cloud platform led to the Company being selected as a Finalist for the Microsoft Service Platform of the Year Award 2013, recognising the Company as one of the top three Microsoft-based Cloud platform service providers globally and the leader in the UK *Outsourcery has established itself as the UK’s leading independent CSP, as demonstrated by its recognition as Microsoft’s global Hosting Partner of the Year 2010, Microsoft’s global Dynamics Partner of the Year 2010, acting as a UK launch partner for Microsoft Lync and Windows Server in 2012 and by the commercial relationships it has built *Outsourcery’s near-term growth will be assisted by its focus on Microsoft technology through Microsoft’s significant market share (95% of desktops worldwide), its “ground-breaking” Lync product, and its commitment to transition to the delivery of its applications from the cloud through partners such as Outsourcery *Outsourcery’s O-Cloud platform can also be used by customers for the deployment of a broad range of software applications which are not limited to Microsoft. Outsourcery is well positioned to deliver a wide range, if not all, of an organisation’s IT and unified communications requirements through the Cloud *Outsourcery’s business model is focused on subscription-based customer contracts, providing a growing base of recurring revenues, leveraging its a stable overhead cost base and low ongoing requirement for capital expenditure Piers Linney, Outsourcery’s Co-CEO, said: “We have invested in and developed a world-leading and enterprise-grade platform for growth which was recognised earlier this week when Outsourcery was selected as one of three finalists for Microsoft’s worldwide Server Platform Partner of the Year 2013 award. “We aim to exploit the opportunities we are seeing at this exciting time in our development and see this fundraising as a great endorsement of our business model, technology platform and growth prospects. The funds will enable us to continue to grow rapidly, support the development of our portfolio of unique products and provide the financial resources to help us scale our business and our leading market position.” Terms used in this announcement have the same meanings as those defined in the Admission Document. Contact: Enquiries: Outsourcery Piers Linney, Co-CEO Simon Newton, Co-CEO +44 (0)330 313 0077 or Investec Andrew Pinder/Patrick Robb Dominic Emery/Carlton Nelson +44 (0) 20 7597 5100 or College Hill Adrian Duffield/Rozi Morris +44 (0) 20 7457 2020
Outsourcery plc: Admission to trading on AIM
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