REG - B.P. Marsh &Partners - Investee Company Update – LEBC Holdings

B.P. Marsh & PartnersAnnouncement

16/04/2024 12:45

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RNS Number : 8371K  B.P. Marsh & Partners PLC  16 April 2024

16 April 2024

 

B.P. Marsh & Partners Plc

("B.P. Marsh", the "Company" or the "Group")

 

Investee Company Update - Completion of disposal by LEBC Holdings Limited of
Aspira Corporate Solutions Limited

 

B.P. Marsh & Partners Plc (AIM:BPM), the specialist private equity
investor in early stage financial services businesses, is pleased to announce
that, further to the Company's announcement on 13 November 2023, LEBC Holdings
Limited ("LEBC") has completed the sale of 100% of Aspira Corporate Solutions
Limited, a wholly-owned subsidiary of LEBC, to Titan Wealth Holdings Limited,
the discretionary fund management/wealth and asset management business.
Completion follows receipt of regulatory approval.

 

The Group received full repayment of its £3.3m loans to LEBC immediately
after completion. As previously stated, LEBC will receive proceeds of sale
over a three year earn-out period. The Group expects to receive at least
£15,947,000 in line with the Company's most recent published valuation of
LEBC as at 31 July 2023.

 

 

For further
information:

 

 B.P. Marsh & Partners Plc                            www.bpmarsh.co.uk (http://www.bpmarsh.co.uk/)
 Brian Marsh OBE                                      +44 (0)20 7233 3112

 Nominated Adviser & Broker

 Panmure Gordon
 Atholl Tweedie / Amrit Mahbubani / Ailsa MacMaster   +44 (0)20 7886 2500

 Financial PR & Investor Relations
 Tavistock                                            bpmarsh@tavistock.co.uk
 Simon Hudson / Tim Pearson / Katie Hopkins           +44 (0)20 7920 3150

 

Notes to Editors:

B.P. Marsh's current portfolio contains fifteen companies. More detailed
descriptions of the portfolio can be found at www.bpmarsh.co.uk
(http://www.bpmarsh.co.uk/) .

 

Since formation over 30 years ago, the Company has assembled a management team
with considerable experience both in the financial services sector and in
managing private equity investments. Many of the directors have worked with
each other in previous roles, and all have worked with each other for over ten
years.

 

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