OREANDA-NEWS. February 03, 2015. Bilby Plc today announces its intention to seek admission to trading on AIM (Admission). The Group is seeking raise ?2.0m to finance the further development and up to ?4.5m through the sale of founder shares.

Bilby is a holding company established to provide a platform for strategic acquisitions in the gas heating and general building services industries.  Prior to Admission Bilby will acquire P&R Installation Company Limited (P&R) through a share for share exchange as the first operating subsidiary of Bilby.

Key highlights:

·    The Group is an established and award winning provider of gas maintenance installation, and building maintenance services to housing associations and local authorities across London and the South East and  is responsible for over 100,000 properties.

·    Bilby's experienced management team focuses on the provision of high service levels through  long-standing relationships with its customers.  These include the Guinness Partnership, London & Quadrant, Gallions and the Royal Borough of Greenwich.

·    The directors believe that there are significant opportunities to expand the Group's operations through further acquisitions of businesses complimentary to the remainder of the Bilby Group based in London and South East England.  The Directors anticipate that a Buy & Build Strategy can deliver further and accelerated growth.

·    Bilby is expected to raise up to ?6.0 million through a Placing of new ordinary shares being undertaken by Charles Stanley Securities.  ?2.0 million is raised through the issue of new Bilby shares while founder shareholders are seeking to place up to a further ?4.5 million of existing shares.

·    The proceeds of the Placing will be applied to:

o 

provide working capital to fund the continued operations of the Group through a phase of expected rapid growth;

o 

provide a platform and access to capital should further financing be required for future acquisitions and expansion of the business; and

o 

provide capital for further investment in the systems, controls and processes across the Group.          

·    Dealings are expected to commence on AIM on 17 February 2015.

·    Charles Stanley Securities is Nominated Adviser, Financial Adviser and Broker to Bilby.