Loan to Investee Company

Macaulay Capital PLC

18 December 2023

 

Macaulay Capital PLC

18 December 2023  

Macaulay Capital PLC

("Macaulay Capital" or the "Company")

Loan to investee company

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 agreed to make a loan to a subsidiary of one of its investee companies, Vale Foods (Holdings) Limited ("Vale Foods").

Vale Foods, together with its trading subsidiary, is an established food manufacturing business and was the Company's first investment in May 2022, when the Company raised £1 million for Vale Foods, of which it invested a total of £200,000 in a combination of 8% loan stock and equity.

Vale Foods has recently moved to new premises to accommodate increased demand for its products, which has required it to take on additional debt finance.  This includes a loan of £275,000 that comprises £125,000 that is to be provided by the Company's subsidiary, Macaulay Management Limited, £50,000 to be provided by a director of Vale Foods and £100,000 to be provided by David Horner in his personal capacity.  The loan is unsecured, carries an interest rate of 10 per cent. per annum, which rolls up and is payable on redemption, and is for a term of up to twelve months.

As David Horner is a director of the Company and is party to the same loan agreement as Macaulay Capital, the loan is deemed to be a related party transaction under the AQSE Rules.  The Company's other directors, who are independent of the transaction, having exercised reasonable care, skill and diligence, believe that the loan by David Horner is 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	[phone]
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
James Caithie Louise O'Driscoll Emily Staples	[phone]
Oberon Capital (Broker)
Chris Crawford	[phone]

For more information please visit: www.macaulaycapital.com

 

END