York-based Gear4music admits over 20 million shares on the AIM

Gear4music, one of the largest UK online retailers of musical instruments and music equipment, is admitting its entire issued share capital, comprising 20,156,339 ordinary shares of 10p each, to trading on the AIM Market of London Stock Exchange plc, under the EPIC code “G4M”.

The York-based company expects that Admission will become effective and that dealings will commence today at 8.00 a.m.

Gear4music’s net proceeds from the Placing of approximately £9m will be used to further develop the company’s ecommerce platform, invest in additional marketing initiatives and extend the range of products it sells.

The company, which was established 12 years ago, also hasplans to open a flagship store in London’s Soho - located in the region of Denmark Street - an area famous for music venues and shops in the 20th Century.

After it was founded in 2003, Gear4music has significantly grown each year and now operates websites that do business in 19 different countries and 15 languages.

Andrew Wass, Chief Executive Officer of Gear4music, said: “We have been thrilled by the investor enthusiasm and support for our admission to AIM and are very excited about beginning the next chapter in our development.

“I would like to take this opportunity to welcome our new shareholders and look forward to updating them and the wider market on our continued progress as we look to build on our strong track record of growth.”

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