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Appian in £2m AIM float

Article Date:  Dec 16 2005 Robert Tyerman


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.

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