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Microlise begins trading on AIM 22 July 2021

Expanding its international business and entering new market segments

Microlise has launched its Ordinary Shares to trading on the AIM market of the London Stock Exchange. Dealings will commenced 22 July 2021, under the ticker SAAS and ISIN GB00BLR8L223. The IPO will support the next stage of the Company’s development, including expanding its international business and entering new market segments.

Established in 1982, Microlise has around 350 employees based at the Group’s headquarters in Nottingham, UK, as part of a total staff of 500 globally with international offices in France, India and Australia.

Microlise’s proprietary modular platform was specifically developed to provide an end-to-end technology solution for fleet customers. 58.0% of UK large HGV fleet operators (defined as comprising more than 500 vehicles) use the Microlise platform.

The Group has a diverse customer base, with over 400 enterprise customers including organisations representing 88.0% of the UK grocery retail market by market share. Other Customers include Culina Group, DFS, Hovis, MAN Truck & Bus UK, and Yodel.

The Company has a track record of consistent recurring revenue growth, profitability and cash generation, growing recurring revenue by 19.0% in FY20 to £32.0 million (total Group revenue £50.0 million).

Microlise raised gross proceeds of £61.2 million at the Placing Price of 135 pence per share. The oversubscribed fundraising raised gross proceeds of £18.6 million for the Company and approximately £42.6 million for certain selling shareholders. Upon Admission, Microlise will have a market capitalisation of approximately £156.5 million (at the Placing Price) with a free float of 39.1%.

The Directors believe admission to AIM will support Microlise’s next stage of development, including:

> To help realise the significant revenue potential within the existing customer base and to up-sell and cross-sell Microlise’s products
> The broadening of the Group’s product offering
> The penetration of new geographies and market segments, including the market for smaller fleet sizes and different vehicle types, such as light commercial vehicles
> The opportunity to accelerate the Group’s growth strategy through targeted M&A to expand its international business, and to add to Microlise’s product portfolio
> Enhancement of the Group’s profile with customers and to assist with the recruitment, retention and incentivisation of senior management and employees at all levels of the Group