Strip Tinning launches Placing, Retail Offer and Issue of Convertible Loan Notes to raise up to £5.25 million
December 2023
Founded in 1957, Strip Tinning Automotive is an AIM listed leading manufacturer of flexible printed circuit connectors, flat foil & cable connectors, and electrical busbar & wire elements, for automotive heating and lighting applications.
They are proud suppliers to the world’s leading glazing manufacturers, these include, AGC, Carlex, Fuyao, NSG, PGW, Saint Gobain Sekurit, and Sisecam.
A large portfolio of components supplied by Strip Tinning Automotive are assembled by the glazing manufacturers and subsequently supplied to the world’s leading OEM’s, including, Audi, BMW, Dacia, Ford, General Motors, Jaguar, Mercedes Benz, Mitsubishi, Nissan, Opel, Peugeot, Porsche, Skoda, Volvo and VW.
Placing, Retail Offer and Issue of Convertible Loan Notes
On 20th December 2023, the Company announced the transaction by way of a Proposed Placing of 2,500,000 New Ordinary Shares at 40.0 pence per New Ordinary Share, a Proposed Retail Offer of up to 625,000 New Ordinary Shares at 40.0 pence per New Ordinary Share and Proposed Issue of Convertible Loan Notes to raise £4.0 million to raise, in aggregate, minimum gross proceeds of £5.0 million.
Having helped Strip Tinning with the production of their admission document when they floated on AIM in February 2022 and subsequently their annual report, the Perivan shareholder communications team was delighted to work with Singer Capital Markets who acted as Nominated Adviser and Broker on documentation which was successfully completed and posted to qualifying shareholders on 21st December 2023.
Perivan is the market leader for admission document production and specialise in producing and publishing financial documents relating to shareholder and investor communications for quoted companies, private companies, and open and closed-ended funds.
