Admission to the NEX Exchange Growth Market

RNS Number : 4197T

Monreal PLC

03 July 2018

 

3 July 2018

Monreal PLC

("Monreal" or the "Company")

Admission to the NEX Exchange Growth Market

The Board of the Company is pleased to announce that trading in its ordinary shares of 0.25p each ("Ordinary Shares") has commenced at 8.00 a.m. today on the NEX Exchange Growth Market ("Admission"), under ticker MORE and ISIN number GB00BYT56612. 

The Company has net funds of approximately £730,000.

The Company's objective is to generate an attractive rate of return for shareholders, predominantly through capital appreciation, by taking advantage of opportunities to invest in the technology, media, and telecoms (TMT) sector.

The Company aims to provide equity, debt, and equity-related investment capital, such as convertible loans, to growing companies which are seeking capital for growth and development, consolidation or acquisition, or as pre-IPO financing. The Company may undertake a reverse takeover or may make investments into companies that it considers good candidates for future reverse takeovers.

In addition, the Company may invest in publicly traded equities which have securities listed on a stock exchange or over-the-counter market. These investments may be in combination with additional debt or equity-related financing, and in appropriate circumstances in collaboration with other value added financial and/or strategic investors.

The Company is not geographically restricted in terms of where it will consider making investments but is anticipated that most of its attention will be focussed on the UK. It will consider any geographical area, to the extent that the investment fits within the Company's investment criteria. The Company will not be subject to any borrowing or leveraging limits.

The Company does not intend to be an active investor, but the Directors will reserve the right to seek representation on the board of the investee company where they feel that an investee company would benefit from their skill and expertise.

The Directors believe that their broad, collective experience, together with their extensive network of contacts, will assist them in identifying, evaluating and funding suitable investment opportunities. External advisers and investment professionals will be engaged as necessary to assist with sourcing and due diligence of prospective opportunities. The Directors will also consider appointing additional directors with relevant experience if the need arises.

The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends.

Details of Directors

The full names of the Directors of the Company and positions are as follows:

John Treacy, Non-executive Chairman

Mr Treacy is a London-based experienced small cap financier who specialises in working with growing companies. He qualified as a solicitor in the London office of a major international law firm where he specialised in Capital Markets and Mergers & Acquisitions. From there he moved to practice corporate finance in the advisory teams of several prominent UK brokerages where he acted as an adviser to a number of AIM companies and advised on numerous IPOs, acquisitions, debt restructurings and placings.

Martin Groak, Finance Director

Martin has more than 30 years of international business experience and qualified as a chartered accountant (now retired) following a degree in economics at the University of London (UK). He is multi-lingual and has a strong background in finance and financial control, predominantly in oil exploration, renewable energy, logistics and physical trading. He has held numerous CFO positions and has been a director of 5 UK publicly listed companies, including a VCT. As a consultant and interim manager, he obtained diverse sectoral experience, including video games development, secure telephony, "lean" app development and managing the finances of the UK's second generation nuclear power station fleet. Martin is currently a non-executive director of Tanfield Group plc, an AIM quoted investing company focussed on the engineering sector and an advisor to a "healthy ageing" project.

The Directors of the Company accept responsibility for the content of this announcement.

--ENDS-

For further information, please contact:

Monreal PLC John Treacy Martin Groak	[phone] [e-mail]
NEX Exchange Growth Market Corporate Adviser: Peterhouse Capital Limited Guy Miller and Fungai Ndoro	[phone]

 

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