Companies

Manroy

Overview

Machine guns manufacturer Manroy joined Aim on 22 December following the reversal of Manroy Systems into Hurlingham, a cash shell that had lost its Aim quotation. Hurlingham lost its Aim quotation at the end of September 2009 because it had not found a new business after it sold its hotel operations. It had 1.68m in the bank at the end of March 2010. Hurlingham paid 3.1m in cash and shares for Manroy Systems and the original shareholders were left with just over 22% of the enlarged company. The enlarged group raised 6m (5.2m net) at 75p a share and it was valued at 9.7m.

Sector: Industrial

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