Fonix Mobile plc float on AIM
Fonix is the UK’s leading mobile payments platform, offering a direct operator billing layer for merchants, which allows customers to pay using their mobile. Their technology allows frictionless, impulsive purchases across a wide range of tariffs for both single transactions and subscription services.
The Perivan shareholder communications team were delighted to work with FinnCap who were appointed Nominated Adviser and Sole Broker to Fonix on the successful publication of the 108-page admission document.
Admission to Trading on AIM
On 12th October 2020 admission and dealings commenced in the Ordinary Shares on AIM by way of a placing of 50,000,000 Ordinary Shares of 0.1 pence each at 90 pence per share.
Reasons for the admission
The Directors believe that Admission will be beneficial to the Company for the following reasons:
- Raising the profile of the Company;
- Positioning the Company such that it can attract, recruit and retain key employees who may be further incentivised through the Share Option Schemes;
- Enabling existing shareholders to participate in the future growth of the Company;
- Providing the Company with more flexibility to fund growth; and
- Enabling the Company to issue new Ordinary Shares as consideration for acquisition opportunities
In addition, the Placing will provide a partial realisation for the Selling Shareholders who will be raising approximately £45 million (gross) from the sale of the Placing Shares in the Placing.
Perivan specialise in the production and publication of financial documents relating to shareholder and investor communications for quoted companies, private companies and open and closed ended funds.