Extension of warrant exercise date & Director loan
26/07/2024 07:00
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RNS Number : 9072X Macaulay Capital PLC 26 July 2024
26 July 2024
Macaulay Capital PLC
("Macaulay Capital" or the "Company")
Extension of warrant exercise date and Director loan
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 the extension of the exercise
date for certain warrants and also a loan to be made to the Company by its
Managing Director, David Horner.
As set out in the Company's AQSE admission document dated 25 July 2022, Harry
and Tom Horner (the adult sons of David Horner) each hold 3,000,000 warrants
("Unconditional Founder Warrants") that were required to be exercised at a
subscription price of £0.25 per share by the date two years from the
Company's admission to trading on AQSE (29 July 2024). The Company has agreed
to extend the date by which the Unconditional Founder Warrants must be
exercised to 31 December 2024 ("Warrant Extension").
In addition, David Horner has agreed to lend the Company £500,000 (the
"Loan") for working capital and other purposes. The Loan is unsecured and
ranks alongside the Company's ordinary shares, is interest free and is
repayable on or before 31 December 2024 from the proceeds of the exercise of
the Unconditional Founder Warrants.
As David Horner is a director of the Company and Harry and Tom Horner are both
substantial shareholders, the Warrant Extension and the Loan are deemed to be
related party transactions under the AQSE Rules. The Company's other
directors, Lindsay Mair and Richard Bucknell, having exercised reasonable
care, skill and diligence, believe that the Warrant Extension and the Loan are
fair and reasonable as far as the shareholders of the Company are concerned.
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 5980
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Louise O'Driscoll +44 (0)20 7213 0880
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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