Strip Tinning plc:

£28 million AIM IPO

Singer Capital Markets is delighted to have acted as Nominated Adviser, Sole Broker and Sole Bookrunner to Strip Tinning plc on admission of its entire issued share capital, being 14,324,324 Ordinary Shares, to trading on AIM.

Admission and dealings in the Ordinary Shares commenced at 8.00 a.m. today, Wednesday 16 February 2022, under the ticker “STG”. A further 813,045 Ordinary Shares in relation to the exercise of EMI Options will be admitted to trading at 08.00 a.m. tomorrow, Thursday 17 February 2022. Following the Second Admission, the Company will have a total of 15,137,369 shares in issue.

In conjunction with the IPO, £11.5 million of gross proceeds have been raised by way of a placing of new and existing ordinary shares at a price of 185 pence per Ordinary Share. The Placing raised gross proceeds of £8 million for the Company and £3.5 million for the Selling Shareholders.

Use of Proceeds

The net proceeds receivable by the Company pursuant to the Placing are expected to be applied principally to:

· increase production capacity in line with sales growth;

· further automate key production processes in order to increase capacity, quality and productivity;

· augment working capital in support of anticipated future growth;

· support the Company’s ESG programme; and

· implement a new SAP financial reporting system.

The Directors believe the Placing and Admission will enable the Company to further invest in both Glazing and EV but principally, to accelerate its growth plans and underpin its early mover advantage in the EV battery sector, further enhance its profile in the markets in which it operates and assist with attracting, retaining and incentivising high calibre employees.

Richard Barton, Chief Executive Officer of Strip Tinning, commented:

“Today’s admission to AIM is a significant landmark for Strip Tinning and a special day in the Company’s evolution. The business continues to go from strength to strength and has come a long way since being founded in 1957, plating wires and coils for general engineering applications in the local Birmingham area.

We are now a leading supplier of specialist connectors to the automotive sector, having established long-term customer relationships with some of the automotive industry’s most familiar names. Today’s admission provides us with the resources to further enhance our capabilities and continue on our exciting journey.

I would like to take this opportunity to thank the Strip Tinning team for all their hard work over the years and to welcome our new shareholders to the register.”

Singer Capital Markets has been retained as the Company’s Nominated Adviser and Broker following Admission.

About Strip Tinning Holdings plc

Strip Tinning, founded in 1957 and headquartered in Birmingham is an established supplier of specialist connectors to the automotive sector. The Group consists of two business lines; Glazing and EV. Over 90% of the Group’s historical sales have been related to Glazing systems by way of busbars for in-screen heating, connectors for heating and antennae and supplies of tungsten.

Ticker: STG

Market Cap: £28 million*

Website: Click here

*As at 16/02/2022