REG - Ikigai Ventures Ltd - Admission to Trading and First Day of Dealings

Ikigai VenturesAnnouncement

15/09/2022 08:15

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RNS Number : 5164Z  Ikigai Ventures Limited  15 September 2022

15 September 2022

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR TO
THE UNITED STATES, CANADA, AUSTRALIA, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR
ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT.
THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER
TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE,
ANY INVESTMENTS IN ANY JURISDICTION.

This announcement is an advertisement for the purposes of the Prospectus Rules
of the UK Financial Conduct Authority ("FCA") and not a prospectus and not an
offer to sell, or a solicitation of an offer to subscribe for or to acquire
securities. Neither this announcement nor anything contained herein shall form
the basis of, or be relied upon in connection with, any offer or commitment
whatsoever in any jurisdiction. Investors should not purchase or subscribe for
any transferable securities referred to in this announcement except on the
basis of information contained in the prospectus (the "Prospectus") in its
final form published by Ikigai Ventures Limited in connection with the
proposed admission of its ordinary shares to the standard listing segment of
the Official List maintained by the FCA (the "Official List") and to trading
on the London Stock Exchange plc's (the "London Stock Exchange") main market
for listed securities (the "Main Market").

 

IKIGAI VENTURES LIMITED

("Ikigai" or the "Company")

Admission to trading on the London Stock Exchange

Ikigai, (LON:IKIV) an investment company established to acquire businesses
focused on having a strong positive social impact, is pleased to announce that
at 8:00 a.m. today its entire issued ordinary share capital will be admitted
to the Standard Listing segment of the Official List of the Financial Conduct
Authority and to trading on the Main Market for listed securities of the
London Stock Exchange ("Admission") under the ticker "IKIV" and ISIN
GG00BPG8J619.

Background

The Company was incorporated in 2021 to undertake the acquisition of one or
more companies or businesses that have a strong positive social impact and/or
ESG strategy as part of their core business in Asia.

Ikigai, (pronounced "ee-key-guy") is a Japanese concept that means, amongst
other things, a reason for being and refers to having a direction or purpose
in life. Although the origin of the word can be traced back to the Japanese
Heian period of 794-1185, the directors believe this age-old ideology has a
growing significance in the 21(st) century corporate world with reference to
businesses increasingly emphasising a positive social impact as well as ESG
(economic, social, governance) strategies as their primary focus. The
directors believe that ikigai is not simply a fashionable statement about
sustainability or corporate social responsibility, they believe that companies
increasingly have elements of sustainability and ESG at their core and that
there is a significant opportunity for investment in the sector, especially in
Asia.

Acquisition Strategy

The Company's board, detailed in the appendix below, through their established
global network of contacts, have identified a number of potentially promising
acquisitions. The Company does not currently have any specific initial
acquisition under consideration.

The Company will seek to create an attractive income-generating business and
increase shareholder value through the operation of the acquired business or
businesses.

The board will be focussed on the identification and acquisition of companies
which have one or more of the following characteristics:

 •    a strong positive social impact and/or ESG strategy behind them;
 •    an experienced management team that has a proven track record;
 •    growth potential beyond its home market, ideally with the potential to expand
      globally;
 •    a solid reputation with customers and/or clients; and
 •    shareholders who are willing to accept shares or other securities in the
      Company as a significant part of the consideration for their businesses.

The directors will also consider investing into start-ups if some of the above
criteria are met, particularly if the management team is experienced and has a
strong network.

Nicholas Bryan-Brown, Chief Executive Officer of Ikigai, said: "The
commencement of trading on the London Stock Exchange is an important milestone
for the Company and I would like to thank our shareholders for their support.
The ESG sector is in a strong state of growth, not least in Asia and we plan
to use Ikigai as a vehicle to acquire one or more exciting businesses in this
sector in order to generate attractive returns for our shareholders."

Total Voting Rights

Following Admission total number of ordinary shares with voting rights in the
Company is 20,680,000. The Company does not hold any shares in treasury and
all of the ordinary shares have equal voting rights. This figure may be used
by shareholders as the denominator for the calculations by which they
determine if they are required to notify their interest in, or a change of
their interest in, the Company under the FCA's Disclosure Guidance and
Transparency Rules.

Prospectus

The Company's Prospectus was published on 13 September 2022 and is available
to view on the Company's website at:
https://ikigaiventuresltd.com/reports-documents/

 

For further information please contact:

 Ikigai Ventures Limited                     Via IFC
 Nick Bryan-Brown, CEO

 Strand Hanson Limited (Financial Advisor)   +44 (0) 207 409 3494

 Rory Murphy / Abigail Wennington

 Novum Securities (Broker)                   +44 (0) 207 399 9400

 Jon Belliss

 IFC Advisory Limited (Financial PR and IR)  +44 (0) 203 934 6630
 Tim Metcalfe

 Zach Cohen

 

Appendix

The Company's board of directors on Admission will comprise:

Nicholas Bryan-Brown (62) - Chief Executive Officer

Nicholas has over thirty years of experience in Asian markets, having lived
for extended periods in both Hong Kong and Singapore, where he has been based
for the last 11 years.

After working as a barrister in London he moved to the City, working first as
a fund manager in the smaller company space (both listed and unlisted). He
moved into corporate finance advisory with Samuel Montagu (now part of HSBC)
in 1984 and helped establish the smaller company advisory team responsible for
IPOs, M&A and capital raising on the predecessor smaller company markets
to the London Stock Exchange's Alternative Investment Market.

In 1987 he began his career in Asia, working for HSBC and other investment
banks in Hong Kong and in Singapore. His last position at HSBC was as co-head
of investment banking for the Asia-Pacific region, responsible for over 100
employees across multiple markets. In 2003, he established his own vehicle
for investment in smaller companies in Asia and the UK, whilst based in
London, making unlisted early stage, as well as listed, investments.

In 2011, he co-founded Blackpeak Group, an international research and risk
advisory firm specialised in investigative due diligence as well as business
intelligence research and investigations. The business grew to become one of
the leading firms in its sector, with offices in Hong Kong, Singapore,
Beijing, Shanghai, Guangzhou, Tokyo and Washington DC. ESG was at the core of
Blackpeak's business and it advised major global banks and manufacturing
groups, as well as leading asset management, sovereign wealth and private
equity funds, on assignments that included examination of ESG issues across
all the major Asian markets.

Nicholas's role included leading many major investigations as well as ensuring
compliance with relevant legislation, such as the UK Bribery and Modern
Slavery Acts, the US FCPA as well as data protection and employment laws
across multiple markets. As a result, he is very familiar with the key ESG
issues relating to investment in Asia and has spoken at conferences and
seminars in the region on ESG.

In 2019, Blackpeak was acquired by Acuris, a provider of global data,
intelligence, research and analysis. In his eight years with Blackpeak,
Nicholas was responsible for the firm's compliance and legal functions as
well as leading or contributing to many investment-related investigative due
diligence projects across Asia.

In 2019, he established Synapse Asia Pte. Ltd.("SAP") as a vehicle for
investment in the early-stage venture capital market in Singapore and other
SE Asian markets. SAP has made several long-term VC investments, with
exposure to markets including Singapore, Indonesia and Hong Kong.

Nicholas is active in the voluntary sector including, since 2016, as a member
of the Global Governing Council of the educational charity Enabling
Leadership, which is focused on underprivileged children in India and
elsewhere in Asia. He graduated with an LLB in law from the University of
London in 1981 and is a member of the English Bar.

Ashley Paxton (54) - Non-Executive Director

Ashley has worked in the financial services sector for nearly 30 years.  He
trained as a Chartered Accountant with McIntyre & Co in London, before
moving to KPMG's financial services sector upon qualification in 1996.
 Ashley moved to Guernsey in 2002 and in 2008 developed a Channel Islands
advisory practice for KPMG, growing it into a full taxonomy of services across
transactions, restructuring, management and risk consulting.

He has provided transactions and valuation support to clients on buy and sell
sides across the regulated finance sectors, including as lead advisor to
Heritage's funds and fiduciary businesses, disposed in 2017 to Estera (backed
by Bridgepoint), and to Ardel, which was disposed to Equiom in 2015 (backed by
LDC).  Ashley has also led a number of high profile and innovative
transaction related engagements for government.

Ashley has gained deep sectoral specialism supporting the London listed fund
sector throughout his 23 years with KPMG, as audit partner, as lead partner
on capital market transactions, and various formal restructuring appointments.
He retired from the firm in 2019. During his KPMG career, Ashley worked on
various advisory assignments with a strong ESG focus, including leading KPMG's
Guernsey Green Fund certification for Bluefield Solar Fund Limited, the first
company to adopt Guernsey Green Fund Rules and be certified.

Ashley is currently a non-executive director of three London listed entities,
Downing Renewables & Infrastructure Trust plc (an Article 9 fund pursuant
to the EU taxonomy and the EU Sustainable Finance Disclosure Regulations) and
Twenty Four Select Monthly Income Fund Limited (he acts as chair of the audit
and risk committee for both), and JZ Capital Partners Limited.   Ashley also
plays an important role in the local third sector as chairman of the Youth
Commission for Guernsey & Alderney.

Ashley is a Fellow of the Institute of Chartered Accountants in England and
Wales and a full-time resident of Guernsey.  He holds an Economics degree
from the University of Warwick.

Meriel Lenfestey (52) - Non-Executive Director

Meriel brings over 25 years of customer-centred strategic and design
consultancy from a wide range of private organisations, government bodies and
listed corporations.  She began her career as a Product Designer with
Microsoft Corporation in Seattle before returning to the UK to work for BBC
Worldwide as Development Producer.

In 1997, she founded her own company, Flow Interactive Ltd, which became a
global pioneer in the usability and user experience design consultancy market
at that time with clients from the third sector as well as from the private
and public sector. In 2010, with a client list of multinational corporations,
including 14 of the FTSE 100, Flow Interactive merged with Foolproof Limited
to become a highly-respected provider of digital customer experience strategy,
design and research. In 2010 she also cofounded a social enterprise called
Ecomodo which was one of the earliest entrants in the sharing economy.

She is currently non-executive director and a member of the ESG committee of
International Public Partnerships Ltd., a FTSE 250 Investment Company, focused
on responsible investment in public infrastructure assets around the world and
is also a non-executive director and chair of the ESG committee of Bluefield
Solar Income Fund, a London Stock Exchange listed renewables fund focussed
entirely on the generation of renewable energy and the energy transition
(solar, wind and battery). Meriel also acts as ESG representative for Jersey
Telecom, which has a strong social remit and is currently looking at the
potential telecoms connectivity has for delivering ESG impact, and for Aurigny
Air Services which provides lifeline air connectivity for Guernsey and
Alderney. She is also a non-executive director (chair) of Gemserv, the
professional services firm which has a strong "profit with a purpose" mission,
operating across energy, low-carbon and health sectors.

Meriel is a committee member of the Guernsey Branch of the Institute of
Directors and also plays an important role in the local third sector as a
director of Art for Guernsey, a Guernsey based charity which aims to bring
societal impact through the application of creative skills.

Meriel graduated from the University of Westminster, has an MA from the Royal
College of Art and holds the Financial Times NED Diploma.

Disclaimer

This announcement is an advertisement and does not constitute a prospectus and
investors must subscribe for or purchase any shares referred to in this
announcement only on the basis of information contained in the prospectus to
be published by the Company in due course (and in any supplementary
prospectus) (the "Prospectus") and not in reliance on this announcement.
Investors should read the Prospectus before making an investment decision in
order to fully understand the potential risks and rewards associated with the
decision to invest in ordinary shares in the Company. Approval of the
Prospectus by the Financial Conduct Authority (if such approval is obtained)
should not be understood as an endorsement of the Shares. When made generally
available, copies of the Prospectus may, subject to any applicable law, be
obtained from the registered office of the Company and will be made available
for viewing at the National Storage Mechanism and on the Company's website.
This announcement does not constitute, and may not be construed as, an offer
to sell or an invitation to purchase investments of any description, a
recommendation regarding the issue or the provision of investment advice by
any party. No information set out in this announcement is intended to form the
basis of any contract of sale, investment decision or any decision to purchase
shares in the Company.

 

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