Headquartered in Manchester, Northcoders is an independent provider of training programmes for software coding. It offers a range of training and software development solutions to individual and corporate customers.
The Company’s offering includes ‘bootcamp’ training courses, government funded apprenticeships and bespoke training courses and software development solutions. The Company operates a hybrid delivery model by providing its services in person at one of Northcoders’ regional office ‘hubs’, currently located in Manchester and Leeds, or digitally via its online platform.
Admission to Trading on AIM
On 27th July 2021, admission and dealings commenced by way of a Placing and Subscription of 1,944,444 Ordinary Shares at 180 pence per share.
Reasons for Admission and use of proceeds
The Directors believe the Group has reached a size and stage of development where it will benefit from Admission. In particular, the Directors consider that Admission will be beneficial to the Group and help facilitate further growth in the business by:
- enhancing the profile and credibility of the Group in its markets;
- being better positioned to attract, retain and recruit key staff (who may be further incentivised through the Company Plan or another share option scheme);
- providing access to equity markets to finance further organic growth and potential acquisitive growthin the business; and
- providing a currency in the Company’s shares which may facilitate the financing of future acquisitions.
The net proceeds of the Placing receivable by the Company of approximately £2.6 million will be appliedprincipally in relation to:
- investment in geographic hub roll-out;
- lincreased marketing spend;
- investment in working capital;
- capital expenditure; and
- listing costs
The Perivan shareholder communications team were delighted to work with WH Ireland who were appointed as Nominated Adviser and Broker to Northcoders, on the successful publication of the 99-page admission document.
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.