PLUS Markets Seminar, Hosted by Orchard Growth Partners, Well Attended by Surrey Growth Businesses Interested in PLUS Quotes
The PLUS Markets breakfast seminar held in Guildford was attended by growth businesses looking for help on understanding PLUS markets and preparing for a PLUS quote. Presentations were made by Paul Haddock, Head of Capital Markets at PLUS, John Bridges of Orange Corporate Finance and Ash Mehta, Chief Executive of Orchard Growth Partners.
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,” Ash explained, “many companies have never been through an audit until they come to quote. In addition, companies must demonstrate adequate working capital and detailed forecast of cash flows to demonstrate at least 12 months survival post fundraising. It’s 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,” Ash continued. “By providing part time financial director services to help guide and ease the transition to a PLUS quote.”
“The key theme running throughout the seminar,” Ash enthused, “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 PLUS quote is not an endpoint; it’s the start of the next phase of business growth.”
About Orchard Growth partners
Orchard Growth Partners provides companies across the UK with financial director services, whenever and wherever growing businesses need it. Orchard Growth specialises in providing interim and part time FDs for growth businesses, providing top level financial expertise without the usual costs and complications of employing a full time finance director. Orchard Growth’s finance directors have both financial and commercial acumen, and are experts in strategic business planning and business growth consulting.
Orchard Growth Partners also provides extensive help to growing businesses that are seeking venture capital funding, or other types of small business fund raising. We have extensive connections with the business angel network and provide tailored help for growth businesses at all stages of the capital fund raising process. Our financial director services also assist owners with planning their business exit strategy and also prepare for initial public offerings. Orchard Growth Partners pride themselves upon providing the financial expertise to guide a business owner through the growing pains of business expansion, freeing them to concentrate on running their business.
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