REG - Manolete Partners - Update to recent Trading Statement & cash receipt

Manolete PartnersAnnouncement

26/04/2022 07:00

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RNS Number : 2609J  Manolete Partners PLC  26 April 2022

Manolete Partners Plc

("Manolete" or the "Company")

 

Update to recent Trading Statement and confirmation of cash receipt

 

 

In the trading statement released on 11 April 2022, Manolete Partners Plc
(AIM: MANO), the leading listed insolvency litigation financing firm in the
UK, referenced the completion of one of its larger case investments for £9.5
million, of which Manolete's share would be £5.6 million, and that the cash
was due to be received in the near future. The Board can now confirm that all
expected cash has been received.

 

Steven Cooklin, CEO of Manolete commented:

 

"I am pleased to report that the cash due to us, from this large investment,
was received on schedule, within three weeks of the legal completion of the
case. Our net debt position is now down to £6.5 million, and with new case
enquiries rebounding sharply upwards following the challenges of Omicron, we
look forward to further strong progress."

 

 

For further information, please contact:

 Manolete Partners Plc                     via Instinctif Partners
 Steven Cooklin (Chief Executive Officer)

 Peel Hunt (NOMAD and Sole Broker)         +44 (0)20 7418 8900
 James Britton
 Rishi Shah

 Instinctif Partners (Financial PR)
 Tim Linacre                               +44 (0)7949 939237

 

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