£20m placing to fund growth

July 18th 2018

Marlowe plc ("Marlowe", the "Company" or the "Group"), the support services group focused on acquiring and developing companies that provide critical asset maintenance services, today announces a Placing to raise approximately £20 million. The Placing Proceeds will be used to support Marlowe's acquisition-led growth strategy.

The Placing will raise gross proceeds of approximately £20 million before expenses through the issue of 4,210,000 new ordinary shares of 50 pence each (the "Placing Shares") at 475 pence per share (the "Issue Price") to certain new and existing investors. The Placing was oversubscribed and the Issue Price represents a discount of approximately 9.1 per cent. to the closing mid-market price of 522.5 pence per share on Thursday 12 July 2018.

Application will be made for the Placing Shares to be admitted to trading on AIM at 8.00 a.m. on 18 July 2018. Following admission of the Placing Shares, the Company's issued ordinary share capital will comprise 38,727,425 Ordinary Shares, each with voting rights.

Alex Dacre, Chief Executive of Marlowe plc, commented: 

"The fragmented service sectors that our businesses occupy offer significant opportunities for further growth through acquisition. The proceeds from this £20 million placing will provide us with additional resources to continue strengthening our market share across the regulated service sectors on which we are focused."

For further information:

Marlowe plc




Alex Dacre, Chief Executive

Tel: +44 (0) 203 813 8498

Mark Adams, Group Finance Director