The ReThink Group lists on AIM

Smith & Williamson has acted as nominated adviser and broker to The ReThink Group plc, a UK-based, fast-growing specialist recruitment, consultancy and managed services group, on its admission to trading on AIM.

ReThink raised just over £800,000 on admission, to cover costs and provide some additional working capital for the business. ReThink's shares started trading on AIM on 17 June 2008, at a 22.5% premium to the placing price and with an initial market capitalisation of £11 million.

ReThink plans to expand its existing UK operations (currently it has offices in London, Manchester, Bristol, Birmingham, Southend, Exeter and Leeds) and believes that there are a number of acquisition opportunities which the admission of its shares to AIM will help it to pursue.

Nicola Horton, Corporate Finance Director at Smith & Williamson, commented: "The AIM admission of ReThink demonstrates that, despite the current economic conditions, quality companies continue to attract investor interest and successfully raise finance". Smith & Williamson has previously acted on 150 AIM transactions where its clients have raised over £1 billion.

Jonathan Butterfield, Managing Director of ReThink, said: "It is always refreshing at the early stage of a relationship with new advisors to find that they have clearly understood your objectives, your company and the industry that we work in. Smith & Williamson have great strength in depth, and the ability and professionalism of the whole team involved in this project was incredibly comforting; they added value at every stage which has saved us considerable time and energy at a very important stage of the company's evolution."

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By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.

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