The Early Bird catches the PLUS markets seminar
Orchard Growth provides companies across the UK with financial expertise, whenever and wherever they need it. They work with clients on a part-time or full-time basis, delivering the highest standards of service and expertise. The seminar provided those who attended with an opportunity to learn about the PLUS markets and how companies can prepare for a quote on PLUS Markets and the process for achieving a quote.
Paul Haddock, Head of Capital Markets at PLUS, spoke about the growth of PLUS over the last few years. Companies are being attracted by the straightforward process and the tax advantages it provides as well as the broad range of services offered to companies of all sizes. In 2007, sixty new companies were admitted to PLUS-quoted and the number of PLUS-quoted companies is now well over two hundred. Paul also stressed the diversity of the company sectors covered ranging from Telecoms, Media, Oil and Gas, Health, Transport, Support Services and Mining.
The next session covered the role of the PLUS Corporate Adviser, which every PLUS-quoted company is required to have. John Bridges of Orange Corporate Finance spoke about the importance of a strong client/adviser relationship and how the Corporate Adviser guides and assists the company through the process and identifies appropriate investors.
In the final session, Ash Mehta, Chief Executive of Orchard Growth Partners spoke about the challenges for companies targeting a PLUS quote and the matters that need to be addressed beforehand for example; many companies have never been through an audit until they come to quote. Companies must demonstrate adequate working capital and detailed forecast of cash flows to demonstrate at least 12 months survival post fundraising. It is a time consuming process which will usually stretch a company s finance team and can result in changes in accounting policies and reported results. This is where Orchard Growth can help by providing expertise financial advice on a part time basis to help guide and ease the transition to a PLUS quote.
The key theme running throughout the seminar was that, despite the credit crunch and turbulent equity markets, the door is still very much open to quality companies wishing to obtain a PLUS-quote to drive their growth, but as always it requires good planning. The quote is not an endpoint; it’s the start of the next phase of a company’s growth.
For further information on any of these issues call Orchard on 0845 3700 303 or email; Antony Doggwiler - ajd@orchardgrowth.com or Harvey Mitchell - harveym@orchardgrowth.com
