Chargemaster, provider of electric vehicle charging infrastructure in the UK, has announced its intention to raise funds and seek admission of its shares to trading on the AIM market of the London Stock Exchange.
Dealings are expected to commence on AIM in July 2013. WH Ireland Limited is acting as Nominated Adviser and sole Broker to the Company.
Commenting on the decision to float on AIM, David Martell, chief executive of Chargemaster said: "Chargemaster’s planned admission to AIM marks a significant step forward in the Company’s development. We are excited about the increase in demand for EV charging infrastructure here in the UK and across Europe.
"This demand is being driven by automotive manufacturers producing a growing range of new plug-in cars required to meet regulatory emission targets, the UK’s government’s recent commitment to provide £37 million of funding for charging infrastructure, as well as other governments’ commitment to encouraging the uptake of environmentally cleaner vehicles.
"Admission to AIM will provide Chargemaster with the necessary access to funding for its next phase of development in order to seize opportunities in this growing market and in particular to capitalise on the near term infrastructure roll-out driven by government incentives and regulation."