Update to recent Trading Statement & cash receipt

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)	[phone]
James Britton
Rishi Shah
Instinctif Partners (Financial PR)
Tim Linacre	[phone]

 

END

 

 

UPDBUGDSIXDDGDU