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Liberum acts as NOMAD and Sole Bookrunner on Gresham House plc's £15m placing

22 May 2018 | Nomad and Sole Bookrunner

 GH

We are pleased to announce that Liberum has successfully raised £15m through the placing of 3.7m shares in Gresham House at 410p with new and existing institutional investors.

Gresham House is a specialist alternative asset manager offering funds, direct investment and tailored investment solutions, including co-investment, on a range of differentiated alternative investment strategies.

The Company will use the £15m proceeds to partially fund the acquisition of FIM Services Ltd, an alternative investment manager specialising in UK real assets, specifically forestry (83,000 hectares) and renewable energy generation (137MW).

FIM will be acquired for an initial consideration of £21 million (£11 million of cash and £10 million of Gresham House equity) with a deferred
consideration of up to £4 million payable in cash and based upon certain performance criteria.

The acquisition will more than double Gresham House’s AUM, taking it from £649 million to c.£1.5 billion of assets under management. In addition, the acquisition will make the enlarged group profitable and significantly enhance EPS.

Liberum acted as NOMAD and Sole Bookrunner on the placing. Taurus London acted as Financial Advisor on the acquisition.

Liberum Team

Investment Banking – Neil Elliot, Jill Li, Youichi Iisaka, Trystan Cullen
Sales – SMID Cap team
Specialist Sales – Steve Keeling
Execution – Graham Smith, Mark O'Hara
Corporate Access – Lucy Williams, Marcio Remedios

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

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Liberum acts as NOMAD and Sole Bookrunner on Volex plc's £36m placing

17 May 2018 | Nomad and Sole Broker

Volex

We are pleased to announce that Liberum has successfully raised £36m through the placing of 48m shares in Volex at 75p with new and existing institutional investors.

Volex is a global provider of electrical and optical connection solutions and has recently moved from the Premium Segment of the Main Market to AIM in January 2018 as part of its new long-term strategic plan to develop new markets through acquisitions and joint venture arrangements with strategic partners.

The Company’s will use the £36m proceeds (at current FX rates) for the following:

  • c.$20m for the acquisition of Silcotec Europe (cable assembly manufacturer), further diversifying the customer base and consolidating the fragmented Cable Assemblies market;
  • c.$20m over-equitisation adds to a net cash position generating greater firepower for deployment in further deals and reduces reliance on previously restrictive banking facilities; and
  • c.$10m is earmarked for internal investment
    – we expect c.$3m of incremental capex to invest in automation with the balance going into working capital to support organic growth opportunities with a prominent EV manufacturer and Dyson.

The Placing is conditional on shareholder approval at a General Meeting of the Company to be held on 4 June 2018, with admission of the Placing Shares to take place on 5 June 2018.

Liberum acted as NOMAD and Sole Bookrunner on the placing.

Liberum Team

Investment Banking – Steve Pearce, Euan Brown, Laura Hamilton
Sales – Oliver Baxendale, Julian Collett, Tim Mayo
Research – Rory Smith
Execution – Graham Smith, Mark O'Hara
Corporate Access – Marcio Remedios

Press Enquiries: Redleaf Polhill

Emailliberum@redleafpr.com

Call: +44 (0)20 7382 4747

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Liberum appointed as Sole Broker and Nomad to Ilika plc

26 April 2018 | Nomad and Sole Broker

Ilika

Ilika isa pioneer in material innovation and solid state battery technology. Ilika iscommercialising its world-class Stereax™ solid-state battery technology built around proprietary materials and processing IP capable of producing lighter, safer, batteries that charge up to 6x faster, last 4x longer, and have over 2x the energy density of the highest performance lithium ion incumbents. Also, due to its capacity to hold charge at very small scale, perform over a wide range of temperatures (-40°C to 150°C) and perform in extreme environmental conditions. Stereax™ is a perfect power source for small sensors and beacons that connect to the Industrial Internet of Things (IIoT).

Commercialisation partners include large blue-chip multinational companies in the energy and electronics sectors such as Toyota, Shell, Murata, Applied Materials, Toshiba, NXP, Sigma Aldrich, Johnson Matthey and CeramTec.

Ilika has been listed on AIM since 2010 and has a market capitalisation of c.£17m.

Liberum Team

Neil Elliot, Investment Banking Director

Jill Li, Investment Banking Assistant Director

Oliver Baxendale, Small & Mid Cap Sales

Adam Collins, Research

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Twitter: @LiberumToday

LinkedIn: Liberum