Sigma Capital Group plc (“Sigma”) (AIM: SGM), the specialist asset management and advisory group, is pleased to announce that the shares of investee company, i-design group plc (“i-design” or the “Company”), which has developed and sells an end-to-end ATM advertising solution called ATM:ad, have today been admitted to trading on AIM.
The Company has also raised approximately £3.5 million (before expenses) through a successful placing with institutional and other investors, at a placing price of 67p per ordinary share. At the placing price, i-design’s market capitalisation on admission is approximately £9.45 million.
The Sigma Innovation Fund (East of Scotland) (“SIF”) originally invested £250,000 in the Company in October 2004. This was followed in December 2005 by a further £1 million investment round led by the Sigma Technology Venture Fund (“STVF”), which invested £443,000. Other investors at that round included the Scottish Enterprise Scottish Co-investment Fund and management. The two Sigma funds subscribed a further £250,000 in aggregate at flotation and, as a result, the SIF now has an 8.83% holding in the Company and the STVF has an 11.48% holding in the Company. Both funds are managed by Sigma Technology Management Limited which itself has a direct holding of 1.56%.
Commenting on today’s announcement, Mark Hogarth, Investment Director of Sigma and a non-Executive Director of i-design, said: “The successful flotation of i-design on AIM follows two previously successful funding rounds led by Sigma. We have been delighted by the Company’s progress to date and look forward to its continuing success as a public company.”
ENDS
Contact
Sigma Capital Group plc
Mark Hogarth, Investment Director
0131 220 9444
Buchanan Communications
Diane Stewart/Isabel Podda/Karen Morrison
0207 466 5000 / 0131 226 4427