Northcoders Group to list its shares on AIM of London Stock Exchange

LONDON, UK: Northcoders Group plc, an independent provider of training programmes for software coding, announced its proposed admission to trading on AIM of 1.944 million new ordinary shares of one penny each, at a price of 180 pence per share.

The Fundraising will raise a total of £3.5 million.  WH Ireland Limited and Peterhouse Capital Limited have acted as joint placing agents.  WH Ireland is acting as Nominated Advisor and Broker to the Company.

Admission and commencement of dealings on AIM are expected to take place at 8 a.m. on 27 July 2021, under the ticker CODE.  Based on the Placing Price, the market capitalisation of the Company will be £12.5 million on Admission.  On Admission, the Company will have 6,944,445 Ordinary Shares in issue and a free float of approximately 29.6 per cent.

The Directors believe that the Company’s admission to AIM will allow the Company to access the capital it needs to facilitate its stated growth strategy, particularly enabling it to roll out its model geographically with an additional hub in Birmingham and the opening of two other regional hubs in 2022.

Northcoders, headquartered in Manchester, is an independent provider of training programmes for software coding.  It offers a range of training and software development solutions to individual and corporate customers.  The Company’s offering includes ‘bootcamp’ training courses, government funded apprenticeships, bespoke training courses and software development solutions.  The Company operates a hybrid delivery model by providing its services in person, at one of Northcoders’ regional office ‘hubs’ currently located in Manchester and Leeds, and digitally via its online platform.

Chris Hill, Chief Executive Officer of Northcoders, commented: “We are delighted with the support that Northcoders has received for the Group’s IPO on the AIM market of the London Stock Exchange and would like to welcome our new shareholders as they join our growth journey.  Thanks must also go to all of our team who have played a pivotal role in our success to date.

“There’s no doubt that Northcoders is in an exciting period, particularly as we move away from the pandemic with the demand for digital training having never been stronger in the UK.  The government has clearly signalled its support for improving access to all forms of education, especially through apprenticeships like ours, and our differentiated business offering is proving attractive to individuals and corporate clients alike.

“As we continue our strategy to expand across our homeland in the North of England, and indeed look at broader opportunities across the UK, the Board and I are confident in our ability to deliver significant shareholder value.”

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