AIM: Flotation raises £2.25m for AIH expansion plan

Promotional merchandise company Award International Holdings (AIH) has raised £2.25 million through an AIM listing that gives the company a market capitalisation of £3.25 million.

The flotation, on 29 March, saw the incorporation of Flexibreaks, the travel promotions supplier, into AIH. Funds from the flotation will be used to provide working capital and develop networks.

Margate-based AIH turned over £3.5 million in the year to 30 September 2003. Flexibreaks was established by Geoffrey Rose in 1993 and had a turnover of £2.1 million to 31 March 2003.

The directors believe the expanded group will supply a one-stop shop for merchandise, events and travel.

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