REG - Milton Capital PLC - First Day of Dealings

LMS CapitalAnnouncement

04/10/2022 08:15

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RNS Number : 6907B  Milton Capital PLC  04 October 2022

4 October 2022

Milton Capital plc

("Milton Capital" or the "Company")

Admission to a Standard Listing

 and to trading on the Main Market of the London Stock Exchange

First day of dealings

Admission details

Milton Capital plc (LSE: MII) announces that 100,000,000 Ordinary Shares will
today be admitted to the Standard 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. The placing of new ordinary shares
has successfully raised a total of £950,000, at a placing price of £0.01 per
share.

Highlights:

•     One Price for All - All investors have come in at the same IPO
price; no Founder Shares or pre-IPO rounds; no warrants; no options.

•     No Advisory/Broking Fees- The Company's advisor and broker,
Peterhouse Capital, has agreed to waive all advisory fees and commission on
all funds raised at the IPO and will receive no annual retainer.

•     Capped listing and on-going costs -

-     The IPO costs, including all accounting, legal, PR and Exchange fees,
which amount to £55,955, have been capped at £50,000 by Peterhouse Capital
and as such, post Admission, the Company will have net proceeds of £950,000;

-      Total costs for the first full year after listing are also capped
at £50,000.

•     No ongoing director salaries - The Company's directors will
receive no salaries or consultancy fees; compensation will only be received by
way of a success fee on the completion of an acquisition approved by
shareholders.

Strategy

The Company was formed to undertake one or more acquisitions of a majority
interest in a company or business. Any such acquisition undertaken by the
Company will be treated as a reverse takeover for the purposes of Chapter 5 of
the Listing Rules.

The directors intend to search initially for acquisition opportunities in the
technology sector. The theme focus for the prospective acquisition is
megatrends. This includes sectors such as space, artificial intelligence,
machine learning and blockchain technology.

 

Megatrends are powerful, transformative forces that can change the global
economy, business and society. They drive innovation and redefine business
strategies and have a meaningful impact on how we live, how we spend our money
and how we invest. The disrupters in particular have produced dynamic profits
for early-stage shareholders.

 

Admission details

Prior to Admission, the Company had 5,000,000 Existing Ordinary Shares in
issue and conditional on Admission issued 95,000,000 Placing Shares. All
Existing Ordinary Shares and Placing Shares were issued at a price of £0.01
per share.

Capitalised terms used in this announcement are as defined in the prospectus
published by the Company on 29 September 2022, unless the context otherwise
requires. Such prospectus was published to allow for Admission of 5,000,000
Existing Issued Ordinary Shares and 95,000,000 Placing Shares and following
any relevant triggering event(s) from time to time, secondary Admission of up
to 205,000,000 Shares deriving from the exercise of warrants issued in
connection with the Placing. A copy of the prospectus is available at the
Company's website, www.milton-capital.co.uk.

The total number of Ordinary Shares in issue on Admission will be 100,000,000
and this number may be used by Shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, the Company under the
Disclosure Guidance and Transparency Rules.

Dealing will commence at 8.am. today. The codes for the Ordinary Shares will
be as follows:

 ISIN        GB00BMWLC750
 SEDOL code  BMWLC75
 TIDM        MII

The Company is incorporated and registered in England and Wales under the
Companies Act 2006 with company number 13628457.

For further enquiries please contact:

 Milton Capital plc

 Directors

 Malcolm Burne                             info@milton-cpaital.co.uk

 Eran Zucker

 Peterhouse Capital Limited

 Financial Adviser and

 Brefo Gyasi / Lauren Riley / Guy Miller

 Corporate Broker

 Lucy Williams / Duncan Vasey

                                           +44 (0)20 7469 0930

 

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