Ashfords LLP is pleased to announce that it has advised Macromac plc (the "Company") on its successful admission to trading on the AIM market of the London Stock Exchange, dealings in the Company's shares having commenced on 20 September 2013.
The Company has been admitted to AIM with a market capitalisation of £10.075m having raised £475,000 (before expenses) pursuant to a placing of new shares on Admission.
Macromac plc, with operating subsidiaries in Malaysia, operates a proprietary application-to-person mobile messaging platform (the "MMP") which facilitates delivery of content between content providers and brand owners to mobile users through messaging systems including SMS, MMS and Push Notifications. The Group also provides enterprise management software and internet marketing solutions for small to medium enterprises.
Allenby Capital Limited is acting as nominated adviser and broker to the Company.
James Lyons, Corporate Partner at Ashfords' London office who led the team advising Macromac, said:
"Macromac is an exciting technology company, well positioned to take advantage of the changes within the mobile markets in major South East Asian countries, and I am delighted that we were able to advise the company on this significant step in its development. I look forward to seeing Macromac's brand and market share increase as a result of its admission to the AIM market. This is one of a number of public company deals that Ashfords has advised on recently and is reflective of a more positive outlook generally for the public markets in the UK bolstered by the improvement in the economy."
The Ashfords team advising the Company was led by London Corporate Partner James Lyons, working closely with the Company's Malaysian counsel, Cheang & Ariff, a member of the firm's ADVOC network.