PKF supports Tribe Technology’s admission to AIM

PKF Littlejohn has recently supported Tribe Technology PLC on its admission to trading on AIM.

Tribe Technology PLC has raised gross proceeds of £4.6m by way of a placing of £4.5m, and a retail subscription of approximately £0.1m, giving a market capitalisation of £22.2m on admission.

Tribe Technology PLC is a disruptive developer and manufacturer of autonomous mining equipment. The net proceeds from the fundraise are intended to be utilised for working capital, research and development and operational/sales expansion.

PKF acted as reporting accountant on the transaction and the capital markets team included Joseph Baulf, Sam Bradshaw, Jack Devlin and Ben Pringle.

Eric Hampel, CFO Tribe Technology PLC, said: “Tribe Tech’s successful fundraise and listing on AIM are a major milestone on our journey to develop the world’s first autonomous RC Drill Rig. 

“PKF was a valuable partner in the listing process, providing us with guidance and practical advice. Most importantly they were a pleasure to work with. We look forward to continuing the relationship with PKF as our auditors going forward.”