Noble Successfully places 10.49% of the Share Capital in ACM Shipping Group
Noble, the research-led independent investment bank, is pleased to announce the successful placement of 10.49% of the share capital in the ACM Shipping Group.
ACM issued the share capital following a road-show with the Group’s 2009 interim results, and as a result of good institutional demand. Ordinary shares aggregating 10.49 percent of the total issued share capital of the Company were placed with a number of UK institutions £2.00 per share.
Established in 1982, ACM is one of the world’s principal tanker ship brokers and has established itself as the market leader in oil transportation. The Group’s key activities are spot brokerage freight, time charter, project brokerage, sales and purchase, derivatives brokerage, research and consulting.
James Bromhead, Head of AIM ECM at Noble said, “This is a strong achievement for ACM Shipping and demonstrates the attractiveness of the business. For Noble the placing is evidence of the excellent contacts we have with institutional investors. I am delighted that this process has been managed in an orderly manner, and as a result of the placing we have broadened ACM’s institutional shareholder base. We look forward to delivering further outstanding results for our clients looking to raise additional funds in the future.”
ENDS
For more information contact:
| Ben Thompson, Group Head of Marketing Noble | +44 20 7763 2200 |
| Sarah Gestetner, Citigate Dewe Rogerson | +44 20 7638 9571 |
About Noble
Noble is a research-driven independent investment bank dedicated to small and mid-cap companies. It provides a full range of services to companies, institutions and investment vehicles, with offices in London, Edinburgh and Mumbai.
In investment banking Noble acts as sponsor, takeover adviser or financial adviser on both buy and sell-side, is an approved NOMAD and broker on AIM, sponsor and broker on the LSE Main Market and adviser on Plus. Noble publishes high quality fundamental research on more than 170 companies across 13 sectors in UK and India.
In December 2009, Noble announced its merger with Execution, the full-service agency broker. The merger is subject to FSA approval.
Noble has four operating companies in the UK, covering Investment Banking, Investment Management and Growth Capital, which are authorised and regulated by the Financial Services Authority.
Noble was voted UK Small to Medium Investment Bank of the Year and UK Small cap Nomad of the Year in the ACQ Global Awards 2009.