Jarlway Holdings plc, the holding company for Jarlway Machinery Inc., one of China’s largest concrete pump manufacturers, announces that dealings in its ordinary shares have commenced on AIM, a market operated by the London Stock Exchange.
The Company’s ticker symbol is “JWY”.
4,166,667 new ordinary shares have been issued in the placing at the price of 30p per share. A further 246,666 new Ordinary Shares have been issued as part settlement of adviser fees and commissions. The Placing Shares represent 17.1% of the enlarged share capital. On Admission, the Company will have 24,413,333 ordinary shares in issue and a market capitalisation at the placing price of Ł7.3 million.
Jarlway assembles concrete pumping systems, which are generally used in large scale construction projects, under processes that have been certificated to standards similar to ISO9001. Each pump system comprises a feeder skip, electric control system, hydraulic system, motor, valves and piping and all pumps are fitted with Jarlway's patented programmable logic controller. The product line has historically consisted of two series of concrete pumps that are respectively electrically and diesel powered and which are available in a variety of different models to suit differing customer requirements.
Jarlway's current range of pumps variously have a maximum feeding volume of between 60 and 140 cubic metres of concrete per hour, are capable of achieving maximum vertical feeds of between 270 and 350 metres and a horizontal feeding distance of between 1,300 and 1,600 metres.
Line pumps have great mobility advantages over trailer pumps because they are already truck mounted and thus transportation costs are reduced. No heavy lifting equipment is needed to load the pump onto a lorry, nor does the 8 kilometre per hour road speed limit applicable to trailer pumps apply. The time required to relocate a line pump to different locations is significantly less than that required for a trailer pump, making the line pump particularly suitable for customers who need frequent pumping of concrete at different sites. Ready mixed concrete suppliers (concrete mixing plants) and concrete machine leasing companies are typical examples of such customers.