FW act for Plexus Holdings plc on share placing to new and existing institutional investors

January 25, 2012

Fox Williams is pleased to announce that it acted for Plexus Holdings plc (the “Company”) on its recent £6.2m oversubscribed placing of new and existing ordinary shares (the “Placing”).  The Placing comprised 2,564,103 new ordinary shares of 1p each (“Ordinary Shares”) and 5,386,525 existing Ordinary Shares.  The Placing raised in aggregate £2m (before expenses) for the Company.  The Company’s Nomad and broker, Cenkos Securities plc, conducted the Placing and was advised by Brodies LLP.

The Company is an AIM listed oil and gas engineering services business and owns the proprietary POS-GRIP® friction-grip method of wellhead engineering.

Application has been made for the new Ordinary Shares to be admitted to trading on AIM and it is expected that dealings will commence on 23 January 2012.

Graham Stevens, Finance Director of the Company, said “Fox Williams have once again provided our Company with an excellent service and co-ordinated the Placing  legals and related negotiations in a professional, timely and commercial manner. This transaction follows on from a range of unrelated value add IP related advice and initiatives, and demonstrates to us the breadth and depth of Fox Williams’ expertise.”.

Paul Osborne, Head of Corporate at Fox Williams, led the transaction and was assisted by corporate associate Sharon O’Donnell. 

Paul Osborne commented “The positive response to the Placing demonstrated by the support seen from new and existing major institutional shareholders indicates a growing confidence in the Company’s prospects and the increasing acceptance by the oil and gas industry of its proprietary technology and range of wellhead equipment, particularly for HP/HT applications.  We are very excited to be part of the professional team.”


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Paul Osborne
Senior Partner
Direct dial: +44 (0)20 7614 2503
plosborne@foxwilliams.com

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