Starling Bank awarded CIF Pool A grant

RNS Number : 9022Q

Merian Chrysalis Investment Co. Ltd

22 February 2019

 

Merian Chrysalis Investment Company Limited

22 February 2019

Merian Chrysalis Investment Company Limited (the "Company")

Announcement regarding portfolio company

Starling Bank awarded CIF Pool A grant

The Company is pleased to note that Starling Bank, a recent addition to the Company's portfolio, as announced on 13 February 2019, has today been awarded a £100 million grant from the Capability and Innovation Fund ("CIF"). It is one of three recipients of the first round of grants designed to promote competition in the market for banking services to SMEs in the United Kingdom. Further information on the award can be found in the full announcement on the BCR website.

Nick Williamson, co-fund manager comments:

"The £100 million grant is expected to further enable Starling Bank to execute its ambitions to reshape the SME banking market through investment in its proprietary technology and expansion of its UK-based customer service and support team."

More information on Starling Bank's intentions for the grant can be found on the BCR website. 

For further information, please contact: Merian Global Investors: Amelie Shepherd	[phone]
Liberum: Gillian Martin / Christopher Britton	[phone]
Maitland Administration (Guernsey) Limited: Aimee Gontier / Elaine Smeja	[phone]

LEI: 213800F9SQ753JQHSW24

A copy of this announcement will be available on the Company's website at https://www.merian.com/chrysalis/. Neither the content of the Company's website, nor the content on any website accessible from hyperlinks on its website for any other website, is incorporated into, or forms part of, this announcement nor, unless previously published by means of a recognised information service, should any such content be relied upon in reaching a decision as to whether or not to acquire, continue to hold, or dispose of, securities in the Company.

This announcement may include "forward-looking statements". All statements other than statements of historical facts included in this announcement, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services) are forward-looking statements.

Forward-looking statements are subject to risks and uncertainties and accordingly the Company's actual future financial results and operational performance may differ materially from the results and performance expressed in, or implied by, the statements. These factors include but are not limited to those described in the formal Prospectus. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to update or revise any forward-looking statements contained herein to reflect actual results or any change in the assumptions, conditions or circumstances on which any such statements are based unless required to do so by the Financial Services and Markets Act 2000, the Listing Rules or Prospectus Rules of the Financial Conduct Authority or other applicable laws, regulations or rules.

 

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