RCS - Literacy Capital PLC - New Investment

Literacy CapitalAnnouncement

06/11/2024 07:00

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RNS Number : 0685L  Literacy Capital PLC  06 November 2024

The information contained in this announcement is restricted and is not for
publication, release or distribution in the United States of America, any
member state of the European Economic Area, Canada, Australia, Japan or the
Republic of South Africa.

 

 

6 November 2024

 

Literacy Capital plc ("Literacy Capital", "BOOK" or the "Fund")

 

New Investment

 

Literacy Capital invests in amplify5 - a rapidly growing offshoring business

 

Literacy Capital is pleased to announce an investment into amplify5 (or the
"Company"), a leading and innovative UK-headquartered business, specialising
in offshoring critical business function solutions to Cape Town, South Africa.

 

BOOK has made an investment for a significant minority stake and provided
capital to fund and accelerate further growth of the business under the
founder's continued leadership. Further financial terms have remained
undisclosed.

 

The Company provides a range of bespoke offshoring solutions to corporates and
SMEs across a variety of sectors. amplify5's agile operating model provides a
flexible offering to customers, transforming the Business Process Outsourcing
sector. These solutions include customer services, finance, accounting and
payroll and administration back-office services, providing its clients with
cost savings, improved processes and ability to focus on their core business
activity.

 

Founded in 2021 by Alastair Brass, amplify5 has established itself as an
innovative and specialist offshoring provider, with delivery based in Cape
Town, South Africa. Following the transaction, Alastair will remain at the
centre of business activities in his role as CEO, driving organic growth and
ensuring amplify5 continues to deliver its customer centric service offering
to its impressive set of clients across the UK, Europe and the US.

 

Use of technology will remain at the forefront of amplify5's business
activities, allowing the business to continuously improve efficiency and
service quality for clients.

 

Richard Pindar, CEO of BOOK's Investment Manager, commented:

 

"We're pleased to make our 25(th) investment since inception of the fund in
amplify5, a rapidly growing and disruptive offshoring business. The investment
from Literacy Capital will support and accelerate amplify5's exciting growth
plans, enabling the business to expand into additional Cape Town locations,
increase capacity and strengthen its team.

 

We continue to believe that investing in smaller, private companies is where
the most value can be added and most rapid growth can be achieved and we
continually look to recycle the capital received from our existing portfolio
into businesses with excellent potential. We look forward to amplify5 joining
our exciting cohort of portfolio companies."

 

 

Enquiries

For further information, please contact:

 

 

   Literacy Capital plc / Book Asset Management LLP:

   Richard Pindar / Aasha Tailor                       +44 (0) 20 3960 0280

   MHP Group:

   Reg Hoare / Ollie Hoare / Matthew Taylor            +44 (0) 7817 458804

                                                       book@mhpgroup.com (mailto:book@mhpgroup.com)
   Singer Capital Markets Securities Limited:

   Alaina Wong                                         +44 (0) 20 7496 3000

 

 

About Literacy Capital:

 

Literacy Capital (BOOK.L) is an investment trust that was co-founded by Paul
Pindar and Richard Pindar in 2017 with £54m of capital. Literacy subsequently
listed on the London Stock Exchange in June 2021. The Fund focuses on
opportunities to invest for the long-term in growing private businesses where
a clear route to creating additional value can be seen with its support. The
fund structure is evergreen, allowing it to be more flexible and to
accommodate the wishes or needs of founders.

 

It also has a unique charitable objective, to donate 0.9% of annual NAV to
charities focused on improving UK literacy in children. £10.6m has been
donated or reserved for donation to charities since the trust's creation in
2017.  For more information, please visit our
website: www.literacycapital.com
(https://protect.checkpoint.com/v2/___http:/www.literacycapital.com/___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzoxZDRjNDc0MTAxNGMxOWI0MjBkMzY1Nzg2OWJlODIxZTo2OmEzNDY6ZTRiZmRlYzA3NDljMjI3MDEyNjMwMzRhYWM4OGYwNzJkZWUxZmQxZTYxZmJiMDBlYjgyYmM3Y2ZkNDRiYWUyMzpwOkY6Tg)
.

 

 

 

Website:

www.literacycapital.com

 

LEI: 2549006P3DFN5HLFGR54

 

A copy of this announcement will be available on the Fund's website at
www.literacycapital.com
(https://protect.checkpoint.com/v2/___http:/www.literacycapital.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzoxZDRjNDc0MTAxNGMxOWI0MjBkMzY1Nzg2OWJlODIxZTo2OmU3Nzk6YTFmNWFiOTUzMjEzODc3YTI5NWU4NzVkZmJlNWVhZjFjYTRkY2UzMDZkODBiMTcxOGRjZmE5ZWQzYmQ3ZDcyODpwOkY6Tg)
.

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