Gamma Communications has moved from AIM to the London Stock Exchange’s Main Market.
AIM is a sub-market of the London Stock Exchange aimed at small- and medium-sized growth companies. Gamma was first admitted to AIM in October 2014, when the company was generating revenues of £173 million from a UK customer base and with 500 employees.
Over the last decade, Gamma has grown into a business with annual revenue of £580 million and 2,200 employees. It has operations in the UK, Germany, the Netherlands and Spain.
Andrew Belshaw, chief executive officer of Gamma, said, “AIM has served us well since admission in 2014 and we have seen over a decade of consistent financial and operational performance. We extend our thanks to our engaged investor base who have supported the company’s growth to where it is today.
“As an established business with a strong track record for high recurring revenue, strong margins and high cash generation, we believe the move to the Main Market will best support the delivery of our long-term strategy and offers the appropriate listing for a company of our scale and ambition.
“I would like to thank our employees, customers, channel partners and advisers and all who have helped the company to reach this exciting milestone. We look forward to enjoying your continued support as we use our strong market position to help businesses stay connected in an increasingly complex world.”
Gamma’s board said it believes that a move to the Main Market will serve to further enhance the company’s corporate profile and reputation. The move is also expected to extend the opportunity to own the company’s ordinary shares to a broader group of UK and global institutional shareholders.