Ocean Outdoor, has (finally) announced that its ordinary shares have been re-admitted to the Standard Listing segment of the Official List of the UK Listing Authority, and that trading in its shares was going to recommence at 8:00am January 9, 2019 on the London Stock Exchange’s Main Market (LSE: OOUT).
Commenting on the re-admission, Tim Bleakley, CEO, said “The team is excited to have completed this process and to now be fully focussed on the future. We believe that our quoted status provides an ideal platform from which to accelerate our growth ambitions. Ocean performed well during 2018 whilst also successfully integrating Forrest Media into the Group. The enlarged group will deliver a compelling and impactful network of national urban audiences for advertisers. With a strong pipeline of new locations set to launch in the near term, we are positive on the outlook for 2019.”
On March 28, 2018, Ocelot Partners Limited (Ocelot) completed the acquisition of Ocean Outdoor for an enterprise value of GBP 200 million. Ocelot was renamed Ocean Outdoor Limited following the acquisition. On June 2, 2018, Ocean Outdoor completed the acquisition of Forrest Media (Holdings) Limited for an enterprise value of GBP 32 million.
Barclays Bank PLC and Numis, Ocean Outdoor’s Corporate Brokers, have acted on behalf of Ocean Outdoor with respect to the re-admission.