LONDON, 3 August 2011 – Panmure Gordon & Co, a leading independent institutional stockbroker and investment bank, is pleased to announce it has acted as Nominated Adviser and Sole Bookrunner on the successful IPO of Escher Group Holdings plc raising US$25m.

Escher Group shares are expected to start trading on the AIM market on Monday, August 8th 2011 and the market capitalisation based on the placing price of 170p per share is expected to be approximately US$47m.

Escher Group provides automation software for postal organisations and its high quality national postal authority clients include An Post in Ireland, Deutsche Post World Net, Austria Post, Posten in Norway and SAPO in South Africa.

Panmure Gordon Group chief executive, Tim Linacre, commented: “Panmure Gordon is delighted to bring Escher Group, a technology company, to AIM. That we have achieved this result for our client in difficult markets is a testament to the quality of Escher Group, its management and to the Panmure Gordon team.”

Since the beginning of 2011 the Panmure Gordon Group, including its US growth economy focused investment bank, ThinkEquity, has worked on five IPOs raising more than $550m.