TIDMGLAN
RNS Number : 1359Y
Glantus Holdings PLC
11 May 2021
11 May 2021
THIS ANNOUNCEMENT AND THE INFORMATION CONTAIINED HEREIN IS NOT
FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN
WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, AUSTRALIA,
CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE
RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
THIS ANNOUNCEMENT IS NOT AND DOES NOT FORM PART OF AN OFFER OF
SECURITIES FOR SALE IN THE UNITED STATES OR ANY OTHER JURISDICTION.
INVESTORS SHOULD NOT SUBSCRIBE FOR OR PURCHASE ANY SECURITIES
REFERRED TO IN THIS ANNOUNCEMENT EXCEPT ON THE BASIS OF INFORMATION
IN THE ADMISSION DOCUMENT PUBLISHED BY GLANTUS HOLDINGS PLC IN
CONNECTION WITH THE ADMISSION OF ITS ORDINARY SHARES TO TRADING ON
AIM.
GLANTUS HOLDINGS PLC
("Glantus" or the "Company")
ADMISSION TO AIM
AND
FIRST DAY OF DEALINGS
Glantus, the provider of Accounts Payable automation and
analytics solutions, announces that admission of its entire issued
and to be issued share capital to trading on the AIM market of the
London Stock Exchange ("Admission") will become effective and
dealings will commence at 8.00 a.m. today under the ticker "GLAN".
The Company's ISIN is IE00BNG2V304 .
Glantus has successfully raised GBP10.0 million (gross) through
an oversubscribed placing of 9,803,909 New Ordinary Shares at a
price of 102 pence per share ("Issue Price") with institutional,
VCT and other investors. A further GBP4.0 million was raised for
existing holders through a placing of 3,921,567 existing Ordinary
Shares at the Issue Price.
The New Ordinary Shares represent approximately 27 per cent of
the Company's issued share capital. On Admission, the market
capitalisation of the Company will be approximately GBP37.0
million.
Arden Partners is acting as Broker and Nominated Adviser to the
Company on the fundraise and Admission.
Maurice Healy, CEO of Glantus, said : "We are delighted to
announce our successful fundraise and admission to AIM, it is an
important step in our development and provides an excellent
platform for expansion. Based on growth forecast for the Accounts
Payable automation market and an acceleration of digital business
initiatives, we are extremely well placed to capitalise on the
investment by companies into finance automation and analytics."
Glantus Overview
Glantus is an ISO 9001, ISO 27001 and ISO 27701 certified
provider of Accounts Payable automation and analytics solutions. It
utilises a technology that layers onto existing data systems and
transforms and analyses data to improve finance automation, and
deliver analytics and data science to business users. The Company
has developed solutions which focus on three product areas: Active
AP Discovery, Intelligent AP Automation and Advanced AP
Analytics.
The Group's solutions are built on its proprietary Data Platform
which allows for the capture of data providing automation,
visualisation and advanced analytics. It offers on-demand reporting
capabilities that enable various stakeholders in an organisation to
make data-driven decisions. Moreover, the solution uses automation
to improve efficiency and reduce user-related errors. The Directors
believe that the Glantus difference is providing an end-to-end
platform for Accounts Payable.
With two principal operational divisions covering EMEA and the
US, these solutions are offered to over 300 customers, more than 50
of which Glantus classifies as Large Enterprises (including Fortune
500 companies and other large-multinationals). Customers are spread
across industries such as healthcare, transportation, industrial
products, manufacturing, distribution, telecoms, gaming &
entertainment, education, consumer products, energy, property &
construction, and business services.
The global Accounts Payable market is forecast to grow at 9.6%
CAGR and estimated to be worth over EUR3 Billion by 2027.
The Directors believe that the Company is uniquely positioned to
capitalise on the investment that businesses are now making in
automation and believe that significant growth opportunities
exist.
Through a combination of revenue growth and acquisitions it has
established a presence in the Accounts Payable market. From 2019 to
2020 Revenues increased over 150% to EUR8.5m. 89% of 2020 revenues
were recurring made up of a combination of subscriptions and
transactional revenues. The US contributed 47% of 2020 revenues,
with 32% from the UK.
Use of Proceeds
The net proceeds from the Placing to Glantus of approximately
GBP8.3m will provide the Company with equity finance to support its
growth strategy by investing in account management, sales and
marketing, and will provide balance sheet strength for the Group to
consider further M&A activity.
The Board
At Admission the Board comprises three executive Directors and
three non-executive Directors.
Barry Townsley - Non-Executive Chairman
Barry Townsley CBE, founded Townsley & Co stockbroking
business. He was a founder partner and is the current chairman of
Hobart Capital Markets. He is director of Caprice Holdings Limited,
vice-chairman of the Serpentine Gallery, London; patron of Trinity
Hospice London; president of Weizmann Institute UK and member of
the executive board in Israel.
Maurice Healy - Founder & Chief Executive Officer
Maurice Healy has over 30 years' experience in the technology
sector. Since he founded Glantus in 2014, he has been instrumental
in the Company's development and growth. He has responsibility to
the Board for corporate strategy and appraisal of corporate
investment projects. He oversees the integration of acquired
businesses. He has led and listed other technology and telecoms
companies. In 1997, he coordinated the admission and placing of
shares of ITG Group PLC to the developing companies market in
Dublin and AIM in London. In 1999; ITG Group PLC was admitted to
the Official London Stock Exchange Lists and a placing and open
offer of shares completed. In 2005, Calyx Group PLC, which he
founded in 2002, was admitted to AIM.
GrĂ¡inne McKeown - Chief Financial Officer
GrĂ¡inne McKeown has over 20 years' experience of financial
management in the technology sector. She joined the Group in 2017.
From 2005 to 2017, she was chief financial officer with Threefold
Project Management Limited. From 2002 to 2005, she held the
position of financial controller at Calyx Group PLC. She worked
with Zomax Limited from 1996 to 2002 in senior finance positions.
Before that, she held financial positions with KAO Infosystems
Limited and Organon Technika Limited. She is a member of the
Association of Chartered Certified Accountants, having qualified as
a certified accountant in 1994. Grainne is responsible for finance
and HR globally.
Geoff Keating - Chief Technology Officer
Geoff Keating joined the business in 2017 and is responsible for
technology direction and product development. He has over 30 years'
experience in the technology sector. In 2016 he worked under a
fixed-term contract as operations director with EI Systems, a
document management solutions provider. From 2012 to 2015 he was
chief technology officer at Milner Browne, a company that
specialises in the SAP Business One ERP system. From 1994 to 2012
he was the owner and managing director of Input Systems Limited, a
software development company that specialised in integrated
business management systems. Before this, he held software
development positions at Keysoft and Tomorrow's World.
Diane Gray-Smith - Non-Executive Director
Diane has a strong track record of leading the finance function
within global organisations in the technology innovation space and
has worked with businesses across a range of sectors, including the
Financial Services and Media sectors. Since 2019, she has been
global chief finance officer for TradeIX. From 2015 to 2018 she was
executive vice president and global chief finance officer for
Uphold Inc. In 2018, she was a founding partner of Public Mint Inc.
where she currently serves as a non-executive director. From
2002-2015 she worked as an interim executive, advising company
boards and managing finance functions. From 2000 to 2002, she was
group finance director at The Media Group. From 1995 to 2000, she
was chief financial officer at Coromin Continental Resources.
Tom Price - Non-Executive Director
Tom Price was a corporate financier for over 30 years and has
held corporate finance roles advising growing businesses across a
broad range of sectors. From 2018 to 2019, he worked with Arden
Partners PLC as corporate finance director. From 2016 to 2018, he
served as corporate finance director with Northland Capital
Partners Limited. From 2013 to 2016, he was head of corporate
finance with ZAI Corporate Finance Limited. From 2009 to 2012, he
held senior positions at Westhouse Securities including those of
corporate finance director, chief operating officer, acting chief
executive officer and PLC board director. From 2002 to 2009, he
worked as corporate finance director at Evolution Securities. From
1990 to 2002 he held the positions of corporate financier and
director with Beeson Gregory Limited. He is also treasurer and arts
adviser to Cockayne - Grants for the Arts and a trustee of the
Braintree Museum Trust.
The Company's Admission Document can be found on its website at
www.glantus.com /investors/ .
Total voting rights
Following Admission, the total number of Ordinary Shares in
issue will be 36,275,431, each with equal voting rights. The
Company does not hold any rights in treasury. The total voting
rights figure can be used by Shareholders as the denominator for
the calculations by which they will determine whether they are
required to notify their interest in, or a change of their interest
in, the Company under the Disclosure Guidance and Transparency
Rules of the Financial Conduct Authority.
Capitalised terms used in this announcement shall, unless the
context provides otherwise, have the same meaning as defined in the
Admission Document.
For further Information, contact :
Glantus Holdings plc +44 20 3787 4457
Maurice Healy, CEO
John Fallon, VP Marketing
ir@glantus.com
Arden Partners plc +44 20 7614 5900
Nominated Advisor and Broker
Ruari McGirr / Richard Johnson (Corporate)
Simon Johnson (Broking)
Flagstaff Strategic and Investor Communications
Tim Thompson + 44 7710 718 649
Mark Edwards
Fergus Mellon
glantus@flagstaffcomms.com
Editor Notes:
Glantus (AIM:GLAN) is a global provider of Accounts Payable
automation and analytics solutions. Our mission is to simplify data
to drive constant innovation. The award-winning Glantus Data
Platform provides an end-to-end AP solution that layers onto
existing systems eliminating cost and delivering new revenue
streams. Glantus has over 300 customers across more than 50
countries, including Fortune 500 brands and large
multi-nationals.
IMPORTANT INFORMATION
This announcement does not constitute, or form part of, any
offer or invitation to sell or issue, or any solicitation of any
offer to purchase or subscribe for any common shares or other
securities in the United States, Canada, Australia, Japan or the
Republic of South Africa or in any other jurisdiction in which such
offer or solicitation is unlawful, prior to registration, exemption
from registration or qualification under the securities laws of any
jurisdiction. The distribution of this announcement and other
information in connection with the Placing and Admission in certain
jurisdictions may be restricted by law and persons into whose
possession this announcement, any document or other information
referred to herein comes should inform themselves about and observe
any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such
jurisdiction. Neither this announcement nor any part of it nor the
fact of its distribution shall form the basis of or be relied on in
connection with or act as an inducement to enter into any contract
or commitment whatsoever.
Arden Partners plc ("Arden"), which is authorised and regulated
in the United Kingdom by the Financial Conduct Authority, is acting
exclusively for the Company as Nominated Adviser and Broker in
connection with the Placing and Admission, and will not be
responsible to any other person for providing the protections
afforded to customers of Arden or advising any other person in
connection with the Placing and Admission. Arden's responsibilities
as the Company's Nominated Adviser under the AIM Rules for
Companies and the AIM Rules for Nominated Advisers will be owed
solely to the London Stock Exchange and not to the Company, the
directors or to any other person in respect of such person's
decision to subscribe for or acquire ordinary shares. Apart from
the responsibilities and liabilities, if any, which may be imposed
on Arden by the Financial Services and Markets Act 2000 or the
regulatory regime established under it, Arden does not accept any
responsibility whatsoever for the contents of this announcement,
and no representation or warranty, express or implied, is made by
Arden with respect to the accuracy or completeness of this
announcement or any part of it and no responsibility or liability
whatsoever is accepted by Arden for the accuracy of any information
or opinions contained in this announcement or for the omission of
any material information from this announcement.
This announcement may include statements that are, or may be
deemed to be, "forward-looking statements". These forward-looking
statements can be identified by the use of forward-looking
terminology, including the terms "believes", "estimates", "plans",
"projects", "anticipates", "expects", "intends", "may", "will", or
"should" or, in each case, their negative or other variations or
comparable terminology. These forward-looking statements include
matters that are not historical facts. They appear in a number of
places throughout this announcement and include statements
regarding the directors' current intentions, beliefs or
expectations concerning, among other things, the Company's results
of operations, financial condition, liquidity, prospects, growth,
strategies and the Company's markets. By their nature,
forward-looking statements involve risk and uncertainty because
they relate to future events and circumstances. Actual results and
developments could differ materially from those expressed or
implied by the forward-looking statements. Forward-looking
statements may and often do differ materially from actual results.
Any forward-looking statements in this announcement are based on
certain factors and assumptions, including the directors' current
view with respect to future events and are subject to risks
relating to future events and other risks, uncertainties and
assumptions relating to the Company's operations, results of
operations, growth strategy and liquidity. Whilst the directors
consider these assumptions to be reasonable based upon information
currently available, they may prove to be incorrect. Save as
required by applicable law or regulation, the Company undertakes no
obligation to release publicly the results of any revisions to any
forward-looking statements in this announcement that may occur due
to any change in the directors' expectations or to reflect events
or circumstances after the date of this announcement.
Neither the content of the Company's website nor any website
accessible by hyperlinks on the Company's website is incorporated
in, or forms part of, this announcement.
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END
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