REG - Craven House Capital - Potential Acquisition

Craven House CapitalAnnouncement

26/09/2019 11:55

RNS Number : 8145N
Craven House Capital PLC
26 September 2019
 


This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
 
Craven House Capital plc
 
("Craven House" or the "Company")
 
Potential Acquisition of Blacktail Mountain Ski Area through its 68% owned subsidiary DLC Holdings ("DLC")
 
Craven House Capital (AIM:CRV) announces that its 68% owned subsidiary TSX listed DLC Holdings Limited announced on the 28th of  August that it had conditionally agreed to acquire 100% of the share capital of Blacktail Mountain Ski Area LLC and Blacktail Mountain, Inc. which collectively comprise the operating business of the Blacktail Mountain Ski Area ("Blacktail") in Lakeside Montana USA.
 
DLC will acquire Blacktail for $3.5 million US dollars. Payment will be satisfied through the issuance of approximately 18,452,000 common shares in DLC to the shareholders of Blacktail. These shares will be subject to the mandatory holding period as defined by the TSX Venture Exchange (the "Exchange").
 
Completion of the transaction remains subject to a number of conditions, including but not limited to receipt of all required shareholder, regulatory and third party consents, including Exchange acceptance, and satisfaction of other customary closing conditions.
 
Further announcements will be made in due course.
 
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For further information please contact:
 



Craven House Capital Plc
Mark Pajak
www.Cravenhousecapital.com
 


Tel:   0203 286 8130
 
 




SI Capital
Broker
Nick Emerson
www.sicapital.co.uk


Tel: 01483 413500




 
SPARK Advisory Partners Limited
Nominated Adviser
Matt Davis/Mark Brady
www.Sparkadvisorypartners.com


 
Tel:   0203 368 3550
 



 
About Craven House Capital:
 
The Company's Investing Policy is to invest in or acquire a portfolio of companies, partnerships, joint ventures, businesses or other assets globally in any geographic jurisdiction. The company will invest in both developed and developing markets providing long term patient capital and is often involved in special situations, restructuring, expansion and turn around investments in crisis and transitioning economies.




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