appScatter Group plc (AIM:APPS), the app distribution and management platform, is pleased to announce the admission of its Ordinary Shares to trading on the AIM market of the London Stock Exchange plc (“Admission”) today.
Dealings in the Ordinary Shares commence at 8.00 a.m. today, 5 September 2017, under the TIDM of “APPS” and ISIN number of GB00BF54H884.
appScatter is a scalable B2B SaaS platform that allows Paying Users to distribute their apps to, and manage their apps on, multiple app stores. Additionally, the centralised Platform enables app developers and publishers to manage and track performance of their own and competing apps across all of the app stores on the Platform. As at 31 July 2017, appScatter had over 8,000 Registered Users and was generating revenue from over 800 Paying Users managing over 3,000 apps.
Following Admission, appScatter intends to launch the public version of the appScatter Platform, at which point the Platform will be available to all, including the app developers and publishers worldwide that are already registered via the Platform’s self-service web portal.
PLACING AND ADMISSION STATISTICS
|
Placing Price per Ordinary Share
|
65 pence |
|
Number of Placing Shares
|
13,846,154 |
|
Gross proceeds of the Placing
|
£9.0 million |
|
Net proceeds of the Placing receivable by the Company
|
£7.8 million |
|
Number of Ordinary Shares in issue on Admission
|
63,178,142 |
|
Market capitalisation of the Company at the Placing Price on Admission
|
£41.1 million |
|
TIDM |
APPS
|
|
ISIN |
GB00BF54H884
|
The Company plans to use the net proceeds from the Placing to support the growth of the business and in meeting the working capital requirements of the Company.
Defined terms used in this announcement have, unless the context requires otherwise, the same meaning as set out in the Company’s Admission Document dated 29 August 2017, which along with the information required by AIM Rule 26, is available at the Company’s investor website at: www.appscatterplc.com
Philip Marcella, Founder & Chief Executive Officer of appScatter, said:
“Today marks the start of an exciting new chapter in appScatter’s development. We are delighted to be joining AIM and I would like to thank our existing and new shareholders for their support. I would personally like to thank my team for their dedication, vision and creativity, all of which remain central to the continued growth of the Company as we move towards the full launch of the appScatter platform. We are confident that we have all the necessary elements in place and believe that appScatter can demonstrate its ability to be an exciting, successful UK technology story.”
