Investment Update
28/10/2024 07:00
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RNS Number : 7728J Macaulay Capital PLC 28 October 2024
Macaulay Capital PLC
28 October 2024
Macaulay Capital PLC
("Macaulay Capital" or the "Company")
Investment Update
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 an update regarding one of its
investments, Vale Foods (Holdings) Limited ("Vale Foods"), and a loan to a
portfolio company.
Repayment of loan and further investment in Vale Foods
Vale Foods, together with its trading subsidiary, is an established food
manufacturing business and was the subject of the Company's first investment,
undertaken in May 2022. £1 million was raised by Macaulay Capital for the
investment, of which the Company invested a total of £200,000 in a
combination of 8% loan stock and equity.
In 2023, Vale Foods moved to new premises to accommodate increased demand for
its products, which required debt finance of £275,000. As announced by
Macaulay Capital on 18 December 2023, this debt finance was provided by the
Company (£125,000), David Horner (£100,000) and a director of Vale Foods
(£50,000). The loan was unsecured, carried an interest rate of 10 per cent.
per annum, which rolled up and was payable on redemption, and was for a term
of up to twelve months.
On 16 October 2024, Vale Foods repaid the loan, together with associated
interest.
At the same time, Vale Foods raised £430,001 through the issue of £393,012
in 8% 2027 loan notes and 30,824 A and B Ordinary shares at £1.20 per share
(the A shares being management shares and the B shares investor shares).
Of the new funds raised, the Company (through its wholly owned subsidiary,
Macaulay Management Limited) has invested £125,000 in 114,247 8% 2027 loan
notes and 8,961 B ordinary shares. In addition, David Horner has invested
£100,000 in £91,398 8% 2027 loan notes and 7,168 B ordinary shares. The
remainder of the funds raised came from directors and existing investors in
Vale Foods.
Macaulay charged an arrangement fee for its assistance with the fund raising.
Loan to portfolio company
The Company also announces that on 25 October 2024, it lent one of the
Company's portfolio companies £100,000 as part of a total loan of £200,000,
with the remainder being provided by the portfolio company's directors and
investors. The loan is secured and is repayable after six months with a 20%
redemption premium.
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/Sandy Jamieson +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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