DataSMS joins PLUS
Article Date: Apr 11 2007Telecoms services provider DataSMS Holdings has joined PLUS Markets as the company seeks to accelerate its growth strategy. On admission, DataSMS had 7.5 million shares in issue, giving the company a market capitalisation of £840,000.
DataSMS, which is based in Blyth, Northumberland, specialises in providing text messaging (SMS) software for business-to-client communication. Chairman Roy Stanley and managing director Terry Munley between them hold 90 per cent of the company’s shares.
While no money was raised in DataSMS’ PLUS admission, Stanley reveals to GrowthBusiness.co.uk that he plans to go to the market for funds in the near future. 'In a couple of months we’ll probably raise a little bit of money to expand the sales and marketing of the operation,' he says.
Following admission, Stanley plans to grow the business organically but aggressively in the next couple of years: 'I can’t forsee [any acquisitions] for this business because it's unique,' he comments. 'It’s got such growth potential in its own right that I don’t think acquisitions would be necessary.'
Data SMS’ corporate adviser is St Helen’s Capital. Its market makers are Winterflood Securities and KBC Peel Hunt.
