Completion of Transaction
06/06/2023 07:00
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RNS Number : 7089B Macaulay Capital PLC 06 June 2023
Macaulay Capital PLC
6 June 2023
Macaulay Capital PLC
("Macaulay Capital" or the "Company")
Completion of transaction
Macaulay Capital PLC (AQSE:MCAP), which was formed to originate and manage
corporate transactions, raise funds from third parties, invest its own funds
alongside those of external investors and to manage its investment portfolio
with the aim of maximising its value, announces that it has completed its
third transaction.
On 5 June 2023, Macaulay Capital and its wholly owned subsidiary, Macaulay
Management Limited (together, the "Group"), completed a transaction (the
"Transaction") to raise £0.94 million to be invested in Kelda Showers
Limited, a company which has developed a disruptive water and energy-saving
solution to the shower market.
The Transaction, which is in ordinary shares and expected to be eligible for
EIS, is part of an ongoing raise of a minimum of £1.75m and is being
supported by Kelda's management and existing shareholders, together with a
number of new investors.
Whilst the Group has not itself invested in Kelda as the investment is
entirely in ordinary shares, David Horner and Richard Bucknell have invested
£100,000 and £20,000 respectively in the Transaction. As Mr Horner and Mr
Bucknell are directors of the Company, their investments in the Transaction
are deemed to be related party transactions under the AQSE Rules. The
Company's other director, Lindsay Mair, having exercised reasonable care,
skill and diligence, believes that the investments by David Horner and Richard
Bucknell are fair and reasonable as far as the shareholders of the Company are
concerned.
Related fees payable to the Group comprise an arrangement fee of approximately
£47,000 and an ongoing monitoring fee of £20,000 per annum.
This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.
ENDS
Enquiries:
Macaulay Capital PLC
Clive Milner +44 (0)20 3946 5981
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
James Caithie +44 (0)20 7213 0880
Louise O'Driscoll
Oberon Capital (Broker)
Chris Crawford +44 (0)20 3179 5304
For more information please visit: www.macaulaycapital.com
(http://www.macaulaycapital.com/)
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