RCS - Literacy Capital PLC - New Investment

Literacy CapitalAnnouncement

24/06/2022 07:00

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RNS Number : 0333Q  Literacy Capital PLC  24 June 2022

The information contained in this announcement is restricted and is not for
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Republic of South Africa.

 

 

24 June 2022

 

Literacy Capital plc ("Literacy Capital" or the "Company")

 

Literacy Capital completes acquisition of Halsbury Travel

 

New investment

 

Literacy Capital is pleased to announce that on 22 June 2022 it completed its
acquisition of Halsbury Travel Limited ('Halsbury'). Halsbury is a travel
agency that specifically focuses on organising trips for UK schools.

 

Literacy Capital has injected fresh capital and acquired a majority stake,
with further financial terms remaining undisclosed.

 

Literacy Capital completes acquisition of Halsbury Travel

 

Literacy Capital has completed its acquisition of Halsbury Travel, and
subsequent growth capital investment. Halsbury is a travel agency that
specifically focuses on organising trips for UK schools. Alex Williamson has
been appointed to the Board as Non-Executive Director, bringing a wealth of
experience in both the Education and Travel sectors.

The Company is delighted to announce that it has completed a significant
investment in Halsbury Travel, a travel agency that specifically focuses on
organising trips for UK schools, acquiring a majority stake in the company.

Headquartered in Nottingham, the business was founded in 1986 by two former
teachers. Most of the trips are to Europe and are centred around education and
languages. Sport and skiing trips are also significant elements of Halsbury's
offering. As a fully accredited travel company, booking with Halsbury offers
complete peace of mind for teachers, parents, and students alike. Alex
Williamson will be joining the Board as Non-Executive Director at completion,
bringing a wealth of experience in both the Education and Travel sectors.

The investment allows Halsbury to further improve its product, people, and
processes, enabling it to capitalise on the inherent organic growth
opportunity as the travel market reopens, with M&A being a key growth
driver also.

The transaction represents Literacy Capital's nineteenth platform investment
completed since the inception of the fund in September 2017, its third since
the fund was listed on the London Stock Exchange in June 2021, and first of
this calendar year. Literacy Capital has also supported its portfolio
companies in completing four bolt-on acquisitions this calendar year.

Enquiries

 

Singer Capital Markets Securities Limited:

 

Robert Peel / Amanda Gray

+44 (0) 20 7496 3000

 

Literacy Capital plc / Literacy Capital Asset Management LLP:

 

Tom Vernon

+44 (0) 20 3960 0280

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Company's website at
https://www.literacycapital.com/ (https://www.literacycapital.com/) .

 

The information contained in this announcement regarding the Company's
investments has been provided by the relevant underlying portfolio company and
has not been independently verified by the Company.

 

This announcement is for information purposes only and is not an offer to
invest. All investments are subject to risk.  Past performance is no
guarantee of future returns.  Prospective investors are advised to seek
expert legal, financial, tax and other professional advice before making any
investment decision.  The value of investments may fluctuate.  Results
achieved in the past are no guarantee of future results. Neither the content
of the Company's website, nor the content on any website accessible from
hyperlinks on its website for any other website, is incorporated into, or
forms part of, this announcement nor, unless previously published by means of
a recognised information service, should any such content be relied upon in
reaching a decision as to whether or not to acquire, continue to hold, or
dispose of, securities in the Company.

 

This announcement may include "forward-looking statements". All statements
other than statements of historical facts included in this announcement,
including, without limitation, those regarding the Company's financial
position, business strategy, plans and objectives of management for future
operations (including development plans and objectives relating to the
Company's products and services) are forward-looking statements.
Forward-looking statements are subject to risks and uncertainties and
accordingly the Company's actual future financial results and operational
performance may differ materially from the results and performance expressed
in, or implied by, the statements. These factors include but are not limited
to those described in the formal Prospectus. These forward-looking statements
speak only as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual results or any
change in the assumptions, conditions or circumstances on which any such
statements are based unless required to do so by the Financial Services and
Markets Act 2000, the Listing Rules or Prospectus Regulation Rules made under
Part VI of the Financial Services and Markets Act 2000 of the Financial
Conduct Authority or other applicable laws, regulations or rules.

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