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Falanx Group Ltd

  • BY: Andrew Hore |
  • POSTED: 20/06/2013 |

Security and risk management consultancy Falanx Group Ltd joined Aim on 20 June and the share price increased 1.25p to 13.25p.

Falanx raised £496,000 at 12p a share, which valued the company at £4.45m. Falanx wants to use the Aim quotation to expand through acquisition, opening additional offices and to give the company more credibility and a higher profile through being quoted.

Falanx has two main subsidiaries: business intelligence and political risk consultancy Stirling Assynt and security and blast protection services provider Falanx Protection. Falanx has been granted a licence from Aim-quoted Environmental Recycling Technologies for the use of its patented Powder Impression Moulding (PIM) technology in the manufacture of blast and ballistic protective blinds and other products. Falanx is paying an initial licence fee of $100,000 in four instalments.

Falanx recently won a new 12 month contract with QinetiQ, which will make an advanced payment of £216,500 when the contract starts. Further new contracts are being negotiated.

Falanx Protection has no track record but Stirling Assynt had revenues of £1.65m in the year to March 2012.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2013_45.pdf

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