SandpiperCI Group Limited lists on The International Stock Exchange (TISE)
31st May 2019
SandpiperCI Group Limited (the “Company”) is pleased to announce that its application for the admission of the Company’s entire issued ordinary share capital to the official list of The International Stock Exchange (“TISE”) has been successful, and dealings in the shares have commenced today. As part of the listing, 25.1m shares were sold at a price of £0.75 per share. Following this successful admission, SandpiperCI now has 100,000,000 shares in issue and the opening market capitalisation of the Company is £75m.
Sandpiper’s CEO, Tony O’Neill said: “We are very pleased to have successfully listed on TISE and welcome all new shareholders to the Company. This listing is the culmination of strong performance over the last three years since the Company was taken into local ownership. The TISE listing raises our profile while, at the same time, enabling wider participation in the ownership of the Company and providing an ongoing market for the shares. We now have more than 120 new shareholders, the vast majority of whom are Channel Islands’ residents, which is entirely appropriate for the largest retailer in the islands.
“Having recently announced the Channel Islands’ acquisition rights to the Laura Ashley brand, we now trade with 14 national and international Blue Chip franchise partners. The business is highly defensible, backed up with a high quality freehold property portfolio, including the Liberty Wharf retail complex in Jersey. We will continue to look for opportunities to expand our presence both in the islands and in other geographical territories where we can leverage our strong relationships with market leading franchise partners”.