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PosSol says Lexicon Partners appointment shows it is serious about flotation

Positive Solutions has appointed corporate finance advisory firm Lexicon Partners to assist it with its planned stock market flotation in 2010.

Lexicon assisted Hargreaves Lansdown on its successful flotation last year.

A PosSol spokesman says the appointment is a “signal of intent” that it is serious about a 2010 target date to float the company.

Speaking at PosSol’s national forum event in Birmingham yesterday, chief executive Jim Reeve stressed any movement toward the stock market would still depend on market conditions and company performance.

Lexicon Partners advises on public and private mergers and acquisitions, equity and debt capital raising. It has assisted on more than 110 completed transactions with a total market value in excess of £35 billion.

Reeve also told partners in Birmingham that PosSol is currently exploring its wrap options with a change in direction perhaps needed. He said: “Positive Solutions needs to be in that space.”

He said the company is considering building its own wrap proposition, although this is at present the “least favoured” option.

He said: “We are at the start of the journey. In the next two months we will have done the work and identified the possibility of building our own one, hiring one, white labeling one – all of those things. I just want to understand what are our options.”


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