OREANDA-NEWS. Marshall Motor Holdings plc, one of the UK's leading automotive retail and leasing groups representing a unique portfolio of prestige and volume brands and with the highest brand coverage of any dealer group in the UK, is pleased to announce the pricing of its successful initial public offering by way of a conditional private placing of 26,845,638 new Ordinary Shares at the Placing Price of 149.0 pence each, and that application for admission of its entire issued and to be issued share capital to trading on the AIM market of London Stock Exchange has been made and is expected on 2 April 2015.

·      The Placing Price has been set at 149.0 pence per Ordinary Share.

·      Based on the Placing Price, the market capitalisation of Marshall Motor Holdings on admission of the Ordinary Shares to trading on the AIM market of the London Stock Exchange becoming effective will be approximately £115.1 million.

·      The Company has conditionally raised approximately £40.0 million before expenses.

·      At Admission the Directors will hold approximately 1.3 per cent. and Marshall of Cambridge (Holdings) Limited will hold approximately 65.2 per cent. of the Enlarged Share Capital.

·      At Admission, the Company will have 77,236,263 Ordinary Shares in issue and a free float of approximately 32.8 per cent. 

·      Admission and the commencement of dealings in the Ordinary Shares under the ticker MMH with ISIN GB00BVYB2Q58 and SEDOL BVYB2Q5 are expected to take place at 8.00am on 2 April 2015.

·      Investec Bank plc is acting as sole financial adviser, sole bookrunner, nominated adviser and broker to the Company.

MCHL Group

MCHL Group is a privately owned group, headquartered in Cambridge, which operates through four principal divisions: Marshall Aerospace and Defence Group, Marshall Group Properties, Marshall Fleet Solutions and Marshall Motor Holdings. The trading entity that became MCHL Group was established as a chauffeur drive business by David Gregory Marshall in 1909, moving into the provision of garage services in 1912 and franchised dealerships in 1919. In around 1979 MCHL Group then expanded its operations into the motor leasing business. The MCHL Group has operated in the automotive sector since its inception, and represents automotive industry experience of almost 100 years.