Appian in £2m AIM float

OFEX-quoted traffic management and automated number plate recognition specialist Appian Technology is joining AIM after a £2 million JM Finn-advised placing at 5p.

Headed by ebullient executive chairman Patrick Ryan, Appian offers a range of products for vehicle recognition, car park management, surveillance, counter-terrorism and congestion charge administration. The company, whose losses rose from £883,000 to £1 million in the year to September on £2.9 million turnover, has won several contracts with local authorities, police forces and other high-profile customers.

Broker JM Finn handled the placing, while John East is acting as nominated adviser. The shares currently change hands for 6.25p on OFEX.

Leslie Copeland

Leslie Copeland

Leslie was made Editor for Growth Company Investor magazine in 2000, then headed up the launch of Business XL magazine, and then became Editorial Director in 2007 for the online and print publication portfolio...

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