31st May 2006 10:48
International Nuclear Solutions PLC31 May 2006 International Nuclear Solutions plc First Day of Dealings on the Alternative Investment Market International Nuclear Solutions plc ("INS"), is pleased to announce itsflotation on AIM under the ticker symbol "INS". The move follows the demergerof the Nuclear Services Division from Robotic Technology Systems plc. INS'sshares were admitted to AIM this morning and are currently trading at amiddle-market price of 36.5p per share, which values the entire issued sharecapital of INS at approximately£ 22.8 million. International Nuclear Solutions is one of the largest nuclear engineeringcompanies in the UK and involved in waste and nuclear materials handling,processing and storage, including new build facilities where necessary tosupport clean-up and decommissioning programmes. In addition, INS providessupport for plant asset care and maintenance of redundant facilities. Thecompany also supports the commercial operating facilities associated with fuelfabrication and spent fuel reprocessing activities at Sellafield. Highlights: • INS is a specialist provider of nuclear engineering and consultancy services in the UK • The Nuclear Services Division has grown annual sales from circa £12.3 million in 2003 to circa £24.6 million in 2005 • In 2005, the Nuclear Services Division generated net profit of approximately £2.3 million • Has an established business with nearly 25 years ofexperience in the nuclear industry • Experienced management team with over 100 years of experience in the nuclear industry • Has long standing relationships with BNFL and a proven track record at Sellafield • Nuclear Decommissioning Agency budget is £2.1 billion for 2006/07 of which circa 55% is earmarked for commercial activities and the remainder for decommissioning and cleanup • The order book is strong Commenting today Chris Brown, Chairman of INS said: "This is a significant move which we believe will pave the way for the creationof long term value for the nuclear business. The demerger will enableshareholders to invest in a pure nuclear services company." Tony Moore, Chief Executive of INS added: "As an independent company, all ourfocus will be on growing the business both nationally and internationally withinthe burgeoning nuclear sector. The Nuclear Decommissioning Authority recentlyestimated the cost of clean up and decommissioning in the UK, for 20 nuclearsites within the portfolio, at £63 billion. There is also potential in themedium to longer term, for INS in nuclear defence and to support any newinvestment in nuclear power generation. " Date 31 May 2006 Enquiries Interntional Nuclear Solutions plc Tel: 0161 777 2000Chris Brown, Non-Executive ChairmanTony Moore, Chief Executive Tel: 0161 222 5500 College Hill Tel: 020 7457 2020Alex WaltersMatthew Smallwood This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
INS.L