SigmaRoc successfully raises £261.6 million and acquires Nordkalk Oy Ab for €470 million in a reverse takeover
August 2021
SigmaRoc is an AIM-quoted buy-and-build group targeting construction materials assets in the UK and Northern Europe. It seeks to create value by purchasing assets in fragmented construction materials markets and extracting efficiencies through active management and by forming the assets into larger groups. In January 2017, SigmaRoc completed the reverse takeover of Ronez Limited, a construction materials business in the Channel Islands. Since then, the Company has successfully enacted its buy-and-build strategy, completing 10 further acquisitions across the UK and Belgium.
On 15 July 2021, the Company announced that it had conditionally agreed to acquire the entire issued capital of Nordkalk Oy Ab, a wholly-owned subsidiary of Rettig Group, for a total Consideration of €470 million (approximately £402 million). The consideration for the Acquisition will be satisfied by a combination of €270 million (approximately £231 million) from the proceeds of a placing with existing and new institutional investors, the drawdown of €150 million (approximately £128 million) under a new bank facility, and the issue of €50 million (approximately £43 million) consideration shares.
On 16 July 2021, the Company announced the successful completion of the Placing, raising £261.6 million at the placing price of 85 pence per share. At around the time the Company announced the Placing, PrimaryBid also announced a retail offering, which has raised an additional £1.6 million for general working capital purposes, the completion of which will be conditional on completion of the Acquisition.
The Acquisition constitutes a reverse takeover of the Company pursuant to Rule 14 of the AIM Rules for Companies’.
Readmission to Trading on AIM
On 11th August 2021, readmission and dealings commenced by way of a Placing of 305,882,352 new Ordinary Shares at 85 pence per share.
Having produced the original admission document which was published on 15th December 2016 and being SigmaRoc’s trusted annual report printer, the Perivan shareholder communications team were delighted to work again with Strand Hanson who acted as financial and nominated advisor who worked alongside Peel Hunt, Liberum and Numis who acted as joint bookrunners on the 324-page readmission document.
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Perivan specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.
