TIDMTSL
RNS Number : 7975Q
ThinkSmart Limited
02 December 2016
ThinkSmart Limited
2 December 2016
Admission to Trading on AIM and First Day of Dealings
THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS
RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE
UNITED STATES (INCLUDING ITS TERRITORIES AND POSESSIONS, ANY STATE
OF THE UNITED STATES AND THE DISTRICT OF COLUMBIA), CANADA, JAPAN,
SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE,
PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.
This announcement is not an offer of securities for sale in any
jurisdiction. Investors should not subscribe for or purchase any
transferable securities referred to in this announcement on the
basis of the information in this announcement.
2 December 2016
ThinkSmart Limited
("ThinkSmart" or the "Company" and, together with its subsidiary
undertakings, the "Group")
Admission to Trading on AIM and First Day of Dealings
ThinkSmart Limited, a leading provider in the UK of retail
point-of-sale lease finance for high-volume small-ticket electronic
and commercial equipment, is pleased to announce that its entire
issued ordinary share capital has today been admitted to trading on
AIM, a market operated by London Stock Exchange plc. Dealings in
the ordinary shares commenced at 8am under the ticker "TSL", with
ISIN AU000000TSM0 and SEDOL BYWVJ89(1) and the Company's admission
document can be viewed at: www.thinksmartworld.com.
The Company is delisting from the ASX and admitting to AIM in
order to better align its listing with its place of business and
the delisting from ASX should be effective on 6 December 2016.
Canaccord Genuity is acting as Nominated Adviser, Financial Adviser
and Broker.
Highlights
-- The Group provides lease finance to consumers and businesses
in the UK. Since it commenced operations in the UK in 2003, the
Group has processed in excess of 350,000 customer applications. As
at 30 June 2016, the Group had approximately 59,000 live customer
contracts
-- The Group has a longstanding exclusive relationship of
approximately 14 years with Dixons Retail, one of the UK's leading
electrical retailers, in relation to the leasing of certain
equipment including computers, laptops, tablets and televisions
-- The Group introduced a new product in conjunction with
Carphone Warehouse in November 2016 to enable Carphone Warehouse's
customers to lease iPhone 7, iPhone 7 Plus and Samsung Galaxy S7
devices in the UK under a 5 year exclusive agreement
-- The use of technology is at the core of the Group's business,
including the proprietary decision making system, SmartCheck, which
integrates directly into a retailer's existing point-of-sale system
and enables rapid credit decisions to be made at the point of
sale
-- ThinkSmart has a clear and executable growth strategy with
potential to move into other consumer finance segments, supported
by a skilled management team with experience in retail and finance
sectors
-- The Directors believe that the Group's growth strategy is
supported by an increasing propensity to lease, with a "usage
versus ownership" trend emerging
-- In the year to 30 June 2016, the business generated revenues
of approximately GBP13.3m and Group Operating NPAT(2) (before
non-operating strategic review and advisory expenses) of GBP2.1
million
-- ThinkSmart's board contains experienced non-executive
directors: Keith Jones, Peter Gammell, David Adams and Roger
McDowell
ThinkSmart's Executive Chairman Ned Montarello commented:
"Listing on AIM is the next exciting step for ThinkSmart,
building on our 14 year track record of supplying point-of-sale
lease finance to UK consumers and businesses via our relationship
with Dixons Retail and our new relationship with Carphone
Warehouse.
"Our business model leverages our proprietary and innovative
SmartCheck platform to provide benefits for retailers, consumers
and manufacturers. We believe that, by enabling customers to pay
for equipment across a number of smaller monthly payments, our
lease products drive incremental sales, support customers choosing
more expensive pieces of equipment, shorten customer replacement
cycles and assist retailers in developing long-term customer
relationships.
"We have invested capital and resources over the last 12 months
to support our growth strategy and facilitate our entry into the UK
mobile phone market. Listing on AIM will help to further raise the
Group's profile in the UK, more closely align our shareholders with
our operations and provide access to the UK equity markets to
support future growth."
Notes
1 Please note that from 6 December 2016, the following ISIN will
be used in place of the existing ISIN: AU000XINEAE8, and the
following SEDOL will be used in place of the existing SEDOL:
BYWVLS3
2 Net Profit After Tax
For further information please contact:
ThinkSmart Limited Via Instinctif Partners
Ned Montarello
Canaccord Genuity (Nominated
Adviser, Financial Adviser
and Broker) +44 (0)20 7523 8350
Sunil Duggal
David Tyrrell
Richard Andrews
Instinctif Partners
Giles Stewart/Mike Davies +44 (0)20 7457 2020
Cannings Corporate Communications
(for Australian enquiries)
Michael Mullane +61 (0)2 8284 9993
About ThinkSmart Limited
ThinkSmart Limited is a leading provider in the UK of retail
point-of-sale lease finance for high-volume small-ticket electronic
and commercial equipment. The Group provides both B2B and B2C
point-of-sale lease finance, primarily through its longstanding
relationship with Dixons Retail and its new relationship with
Carphone Warehouse. The Group's product offering is underpinned by
a proprietary, innovative and scalable technology platform,
SmartCheck. Since it commenced operations in the UK in 2003, the
Group has processed in excess of 350,000 individual applications.
As at 30 June 2016 the Group had approximately 59,000 live customer
contracts.
Important notices
This announcement is for information purposes only and does not
itself constitute an offer or invitation to underwrite, subscribe
for or otherwise acquire or dispose of any securities in the
Company and does not constitute investment advice. Neither this
announcement nor any copy of it may be taken or transmitted,
published or distributed, directly or indirectly, into the United
States, Canada, Japan or South Africa or to any persons in any of
those jurisdictions or any other jurisdiction where to do so would
constitute a violation of the relevant securities laws of such
jurisdiction. Any failure to comply with this restriction may
constitute a violation of United States, Canadian, Japanese or
South African securities laws. The distribution of this
announcement in other jurisdictions may be restricted by law and
persons into whose possession this announcement comes should inform
themselves about, and observe any such restrictions.
This announcement does not constitute an offer to sell or an
invitation to subscribe for, or solicitation of an offer to
subscribe for or buy any securities referred to in this
announcement to any person in Australia. This announcement is not,
and does not purport to be a document containing disclosures to
investors for the purposes of Part 6D.2 of the Australian
Corporations Act 2001 (Cth) and will not be filed with the
Australian Securities and Investments Commission. This announcement
is available to shareholders in Australia for information purposes
only in the context of the application for Admission.
This announcement is for information purposes only and is only
addressed to and directed at persons in member states ("Member
States") of the European Economic Area who are qualified investors
within the meaning of Article 2(1)(e) of the Prospectus Directive
(Directive 2003/71/EC as amended (including amendments by Directive
2010/73/EU to the extent implemented in the relevant Member State))
("Qualified Investors"). In addition, in the United Kingdom this
announcement is addressed and directed only at: (i) persons who
have professional experience in matters relating to investments and
who fall within the definition of "investment professionals" in
Article 19(5) of the Financial Services and Markets Act 2000
(Financial Promotion) Order 2005 (as amended) (the "Order"), 43(2)
or who fall within Article 49(2) of the Order; and (ii) any other
persons to whom it may otherwise be lawfully communicated (together
all such persons being referred to as "relevant persons"). Persons
who are not relevant persons should not rely or act upon this
announcement or any of its contents.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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