Shore Capital acts as Joint Broker and Joint Bookrunner on £8.3 million placing for Begbies Traynor Group

 

Shore Capital is pleased to act as Joint Broker and Joint Bookrunner on the oversubscribed £8.3m placing for Begbies Traynor Group (the Group), the business recovery, financial advisory and property services consultancy.

The placing raised gross proceeds of £8.3 million through the issue of 11m new ordinary shares at a price of 75p per placing share.

This fundraise follows the Group’s announcement earlier this month of a strong financial performance for the year ended 30 April 2019, with revenue growth of 15 per cent, 23 per cent growth in adjusted earnings per share and a second consecutive year of dividend growth. During this year, the business both grew organically, and completed four acquisitions while reducing net debt, and enters the current financial year with positive momentum.

The Group has a strong track record of recent acquisitions and an identified pipeline of opportunities, and intends to use the net proceeds of the placing to fund acquisition opportunities.

 

For more information, please contact:

Mark Percy

James Thomas

Anita Ghanekar

 

For media enquiries, please contact:

Adele Gilbert +44 (0)79 6622 4514

 

Note to editor

About Shore Capital

We are an independent securities business offering institutional and corporate clients leading investment banking, research, sales and trading services, including fixed income.  We are represented across the UK enabling extensive distribution and institutional coverage. This distribution capability is complemented by our experienced corporate advisory and broking team who offer discreet, innovative and valued advice to companies on both the Main Market and AIM.  Shore Capital is also the 3rd largest market maker by number of AIM stocks covered.

Our cross-disciplinary team has deep, market leading experience in a wide range of small and mid-cap UK companies within the following sectors: Consumer, Financials, Healthcare, Insurance, Natural Resources, Real Estate, Support Services, Technology and Media. Our research on over 250 companies is distributed to an extensive institutional client base in the UK and Europe.

Shore Capital is a trading name of both Shore Capital Stockbrokers Limited and Shore Capital and Corporate Limited.