Voluntary withdrawal of EuVECA designation

RNS Number : 6891J

Draper Esprit PLC

23 December 2020

 

DRAPER ESPRIT PLC

("Draper Esprit" or the "Company")

Voluntary withdrawal of EuVECA designation of Esprit Capital Partners LLP

Draper Esprit PLC (AIM: GROW, ESM: GRW), a leading venture capital firm investing in and developing high growth digital technology businesses, announces that, Esprit Capital Partners LLP ("ECP"), the Company's Alternative Investment Fund Manager ("AIFM") notified the Financial Conduct Authority ("FCA") in November 2020 of its intention to relinquish the use of the EuVECA designation under the European Venture Capital Funds Regulation (EU 345/2013). 

ECP is a wholly owned subsidiary undertaking of the Company and it is regulated by the FCA.

One of the principal advantages of the EuVECA Regulation is that it offers an EU-wide marketing passport to certain managers of venture capital funds.  As a full-scope AIFM, ECP is able to avail itself of the Alternative Investment Fund Managers Directive marketing passport rights and therefore no longer needs to take advantage of the EuVECA marketing regime.

The Company confirms that there has been no change to the investment objective and/or investing policy and/or strategy of the Company as a result of the Company relinquishing the use of the EuVECA designation. 

Pre-Investment Disclosures for the benefit of investors relating to the Company as required by paragraph 3.2.2R of the FCA's Investment Funds sourcebook continue to be available on the Company's website at

https://draperesprit.com/investors/plc/results-and-reports .

Enquiries

Draper Esprit plc Martin Davis (Chief Executive Officer) Ben Wilkinson (Chief Financial Officer)	[phone]
Numis Securities Nominated Adviser & Joint Broker Simon Willis Richard Thomas Jamie Loughborough	[phone]
Goodbody Stockbrokers Euronext Growth Adviser & Joint Broker Don Harrington Charlotte Craigie Dearbhla Gallagher	[phone]
Powerscourt Public relations Elly Williamson Donjeta Miftari	[phone] / [phone]

 

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