TIDMCAMK
RNS Number : 1670U
Camkids Group PLC
24 December 2012
Press Release 24 December 2012
Camkids Group plc
("Camkids" or the "Group" or the "Company")
First day of dealings on AIM
Placing and subscription to raise GBP6.4 million for the Company
(before expenses)
Camkids Group plc, a leading Chinese designer, manufacturer and
distributor of branded outdoor clothing, footwear and equipment for
children and teenagers, today announces the commencement of
dealings of its Ordinary Shares on the AIM market of the London
Stock Exchange. Allenby Capital Limited is acting as Nominated
Adviser and sole Broker to the Group. The stock market epic will be
CAMK.
Allenby Capital, together with the Company, has raised GBP6.4
million on Admission. The net proceeds of the Placing and
Subscription will be used by the Company to enhance the Group's
R&D facilities, branding and marketing, increase its presence
in its existing provinces and to enter new markets in the PRC and
extend its current production facilities.
Admission and Placing Statistics
Placing Price 88 pence
Number of Ordinary Shares in issue prior to and immediately
following the Placing 75,427,629
Market Capitalisation at the Placing Price on Admission GBP66.38 million
Gross proceeds of the Placing and Subscription GBP6.4 million
Estimated net proceeds of the Placing and Subscription GBP5.4 million
Commenting on the Company's AIM listing, Zhang Congming,
Chairman and Chief Executive Officer of Camkids, said: "The Board
is delighted to have successfully completed the IPO and we are
pleased to have raised funds to expedite the development of the
Company. Camkids is an exciting business with a strong position in
a fast growing market, and we look forward to working alongside our
new shareholders in the UK and Asia."
- Ends -
For further information:
Camkids Group plc
Zhang Congming, Chairman and Chief Executive Tel: +44 (0) 20 7398
Officer 7709
Ng Pei Eng, Chief Finance Officer www.camkids.com.cn
Allenby Capital Limited
Alex Price / James Reeve / Nick Athanas Tel: +44 (0) 20 3328
5656
a.price@allenbycapital.com www.allenbycapital.com
Media enquiries:
Abchurch Communications Limited
Henry Harrison-Topham / Joanne Shears Tel: +44 (0) 20 7398
7709
joanne.shears@abchurch-group.com www.abchurch-group.com
Notes to Editors
Camkids is a leading Chinese designer, manufacturer and
distributor of branded outdoor clothing, footwear and equipment for
children and teenagers.
Based in Fujian province in China, the Group focuses on teenage
sportswear for outdoor activities, combining functionality and
innovation. The products are mid-range price based, targeting mid
and high range markets within China.
The three main product areas are:
-- Camkids outdoor clothing - all weather jackets, waterproof
trousers, shirts, tops and T-shirts, woollen sweaters, jeans,
trousers shorts and skirts;
-- Camkids footwear - hiking boots, outdoor leisure footwear, flip-flops, sandals and boots
-- Camkids equipment and accessories - telescopes, backpacks,
technical packs, tents, sleeping bags, headgear, caps, kettles,
headlights and torches.
The Group designs its entire product range and manufactures the
majority of its footwear. Outdoor apparel and accessories are
currently manufactured by third party OEMs.
The children and teenagers outdoor and sportswear market is
currently worth RMB10.9 billion in annual sales and is forecast to
grow at a CAGR of 16.9%* between 2012 and 2016. The Group currently
has an 11.1%* market share by total sales volume.
Camkids' primary route to market for the sale of its products is
through its network of distributors. The Group has established an
extensive distribution network across 29 provinces, 4
municipalities and 5 autonomous regions within the PRC. As at 30
June 2012, the Group had 15 authorised distributors operating over
1,000 retail outlets.
In 2010, Camkids was recognised as one of the top ten children's
shoe brands at the China Shoe Industry Summit Forum and in
September 2012 was included as one of the top 500 brands in
Asia.
Directors
The Board consists of three executive directors and three
non-executive directors:
Zhang Congming (aged 54), Executive Chairman
Mr Zhang is the Executive Chairman of the Company and is
primarily responsible for the Group's overall strategies, planning
and business development. Mr Zhang has more than 25 years of
experience in the apparel and footwear industry and founded the
business from his own savings in 1994. Mr Zhang was responsible for
leading the Group's successful transformation from an OEM/ODM
manufacturer to a local apparel and footwear manufacturer and
distributor. In 2008, Mr Zhang was elected as Jinjiang City's
Deputy of National People Congress and he was re-elected for a
further four year term in 2011. Since 2002, Mr Zhang has been the
vice president of the Association of Fujian Province Shoe Industry.
Mr Zhang has been a committee member of Jinjiang City Industry and
Commerce Commission since 2008. Mr Zhang served in the Chinese
military between 1976 and 1981 and then, after a brief period in
farming, became a salesman for a shoes and apparel company. From
October 2012 Mr Zhang will serve as the first President of a newly
established R&D committee for children's shoes in Fujian.
Ng Pei Eng (aged 39), Chief Finance Officer
Ms Ng joined the Group in April 2012 as the Company's Chief
Financial Officer and is responsible for overseeing the Group's
financial reporting obligations. Ms Ng graduated with a Diploma in
Accountancy from Ngee Ann Polytechnic, Singapore in 1993. Ms Ng has
been a Fellow Member of the Association of Chartered Certified
Accountants in the United Kingdom since 2001 and a Member of the
Institute of Certified Public Accountants of Singapore since 2000.
Prior to joining the Company, Ms Ng was the CFO of China Stationery
Limited, a Malaysian Main Market listed company, and was
responsible for guiding it through the majority of the IPO process.
Ms Ng is fluent in both English and Mandarin.
Hong Qinming (aged 26), Sales and Marketing Director
Mr Hong is responsible for the overall sales and marketing of
the Group's products. Mr Hong joined
the Group in February 2011 as the Head of the apparels
department and was subsequently promoted to the Head of the Group's
sales and marketing department in November 2011. Prior to joining
the Group, Mr Hong started his career as an investment analyst in
investment consulting company, Xiamen Fushi Investment Co., Ltd,
where he worked from 2008 to 2010. Thereafter he joined Wenke
Sports Limited's Xian Branch as operations manager. Mr Hong
received his bachelor's degree in business management from Fujian
Jimei University in 2008.
Jacques-Franck Dossin (aged 52), Non-Executive Director
Mr Dossin has over 25 years' experience in the finance industry,
primarily as an equity research analyst specialising in the Branded
Consumer Goods sector. Mr Dossin spent 12 years at Goldman Sachs,
London, where he was in charge of the Branded Consumer Goods
industries and was the co-ordinator for the industry on a worldwide
basis and was consistently ranked among the top 3 analysts globally
according to leading independent surveys. Prior to Goldman Sachs,
Mr Dossin was Head of French Equity Research at Credit Suisse First
Boston for five years and prior to that he was Head of Consumer
Goods Research at Société Générale-Delahaye for six years.
Following his time at Goldman Sachs, Mr Dossin founded Dossin
Advisory, a Mergers & Acquisitions boutique specialising in the
Branded Consumer Goods sector.
Mr Dossin is the Chairman of the Group's audit committee and a
member of the remuneration
committee.
Richard Sweet (aged 52), Non-Executive Director
Mr Sweet has over 25 years' experience in the retail industry,
primarily in the clothing sector. He initially worked for
Selfridges plc and then worked for over 20 years at Marks and
Spencer plc up until 2009, with 10 years in buying and
merchandising, including children's footwear, and with extensive
experience of procurement from China and the Far East. Mr Sweet was
Head of International Franchise for Marks and Spencer and managed
franchised stores across Europe, the Middle East and Asia. Most
recently Mr Sweet was Managing Director of Marks and Spencer China,
where he was responsible for leading the market analysis and entry
strategy for the group in China and this led him to live in
Shanghai for 3 years. Mr Sweet is currently the Managing Director
for the commercial arm of the UK charity Shelter, where he is
responsible for their trading activities and manages over 120
stores in the UK.
Mr Sweet is the Chairman of the Group's remuneration committee
and a member of the audit
committee.
Mircle Yap (aged 35), Non-Executive Director
Mr Yap has over 10 years' experience in the finance industry,
primarily in South East Asia as director and investment adviser. Mr
Yap currently works as a strategic investment adviser for One
Capital Group Investment Ltd where he is responsible for developing
strategies and implementing the organisation's financial plans.
Prior to working at One Capital Group Investment Ltd, Mr Yap was a
strategic investment adviser at Quarto Capital LLC from 2007 to
2011. Previously Mr Yap was an executive director at Exalt Global
Investment & Co.
Mr Yap is a member of the Group's audit and remuneration
committee.
For more information please visit www.camkids-ir.com.
*Source: Euromonitor International
This information is provided by RNS
The company news service from the London Stock Exchange
END
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