TORONTO, July 9, 2012 /CNW/ - Canaccord Financial Inc. announces that it has published its prospectus (the "Prospectus") in connection with the admission, with a standard listing, of the entirety of its issued common shares to the Official List of the United Kingdom Listing Authority ("UKLA") and to trading on the London Stock Exchange's Main Market ("Admission").
It is expected that Admission will become effective and that dealings in Canaccord's common shares on the London Stock Exchange's Main Market will commence at 8.00 a.m. BST on July 13, 2012.
Pursuant to Rule 41 of the AIM Rules, the Company hereby gives notice that trading in the Company's common shares on AIM will be cancelled on the same day with effect from 8.00 a.m. BST.
The Company is not raising any funds or issuing any new common shares in connection with Admission. The Company's TIDM code on the London Stock Exchange will remain 'CF.' and, on Admission, there will be 102,140,580 common shares in issue.
The Prospectus will shortly be available on the investor relations section of the Company's website: www.canaccordfinancial.com.
The Prospectus has been submitted to the UKLA and to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/nsm.
Update on Current Trading and Prospects
Included in the Prospectus (as covered below) is an update on Canaccord's trading position since the Company's fiscal year ended March 31, 2012.
Aggregate financing values for relevant industry sectors on the TSX and TSX Venture exchanges for the months of April 2012 and May 2012 was $2.8 billion compared to $17.9 billion, $11.2 billion, $10.4 billion and $15.1 billion for the quarters ended 31 March 2012, 31 December 2011, 30 September 2011 and 30 June 2011 respectively. This downturn in the first two months of the current fiscal year in the Canadian market is also reflected in the UK market. Aggregate financing values for the Company's relevant AIM industry sectors for the months of April 2012 and May 2012 was £247.2 million compared to £620.7 million, £693.5 million, £459.4 million and £705.2 million for the quarters ended 31 March 2012, 31 December 2011, 30 September 2011 and 30 June 2011 respectively. Accordingly, it is expected that this reduced market activity will have a significant negative impact on revenues earned by the Company when compared with recent quarters.
ABOUT CANACCORD FINANCIAL INC.:
Through its principal subsidiaries, Canaccord Financial Inc. is a leading independent, full-service financial services firm, with operations in two principal segments of the securities industry: wealth management and global capital markets. Since its establishment in 1950, Canaccord has been driven by an unwavering commitment to building lasting client relationships. We achieve this by generating value for our individual, institutional and corporate clients through comprehensive investment solutions, brokerage services and investment banking services. Canaccord has over 60 offices worldwide, including over 40 Wealth Management offices located across Canada, the UK and Europe. Canaccord Genuity, the Company's international capital markets division, has operations in Canada, the U.S., the U.K., France, Germany, Ireland, Italy, China, Hong Kong, Singapore, Australia and Barbados.
For further information:
North America media:
Executive Vice President, Global Head of Corporate Development and Strategy
Phone: 416-869-3875, email: [email protected]
For investor relations inquiries contact:
Vice President, Investor Relations & Communications
Phone: 416-869-3891, email: [email protected]
Bobby Morse or Ben Romney
Buchanan Communications (London)
Phone: +44 (0) 207 466 5000, email: [email protected]
Nominated Adviser and Joint Broker:
Oliver Hearsey or Martin Eales
RBC Europe Limited
Phone: +44 020 7653 4000, email: [email protected]
Keefe, Bruyette & Woods Limited
Phone: +44 (0) 20 7663 3162, email: [email protected]