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Webb Capital PLC (WCAP)

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Tuesday 11 October, 2011

Webb Capital PLC

Pre-IPO Funding for Jongleurs

RNS Number : 9206P
Webb Capital PLC
11 October 2011
 



FOR IMMEDIATE RELEASE                                                                                  11 October 2011

 

                                    

PRE - IPO FUNDING FOR JONGLEURS

Webb Capital plc, ("Webb Capital" or the "Company") the PLUS Markets quoted financial services group, announces that it will be raising funds in the region of £0.5 million for its client Jongleurs Comedy Group PLC (''Jongleurs'' or ''the Company''), through a private placing in advance of a float on AIM in the next 12-18 months. 

Jongleurs is the UK's leading comedy brand which nurtured the careers of successful comedians such as Peter Kay, Eddy Izzard, Harry Hill, Rhod Gilbert and Michael McIntyre.

Jongleurs Investment Highlights

·      UK's leading comedy brand

·      Established, scalable and cash generating business model

·      Substantial internet based media opportunity

·      2011 year end turnover is forecasted at £1.9 million rising to an expected £10.3 million in 2013 and approximately £22.43 million by 2014

·      Highly experienced and ambitious executive team - pioneers of the UK comedy market

The experienced management team intend to establish Jongleurs at the heart of the comedy world. Their formula for success is based on the ability to use Jongleurs' expertise, experience and reputation for developing comic talent to match   the requirements of each venue. The funds raised will accelerate these ambitions globally through the following initiatives:

Jongleurs Growth Plans

·      Establish seven Jongleurs clubs over the next three years as the high profile shop window for the group

·      Expand the franchise network of 19 to 30 by 2014

·      Develop the "On-the-Road' business which supplies comedians to venues such as theatres, hotels and corporate events

·      Roll out mainstream 30 minute TV programmes featuring the latest stand-up comedians

·      Create a retail DVD offering

·      Develop a talent management division which nurtures the careers of stand-up artists by applying the experience gained during almost 30 years in comedy

·      To create a strong internet platform which delivers product and increases consumer awareness of Jongleurs throughout the world

 

Jongleurs currently has a database of over 2,000 stand-up acts, and by utilising the internet the objective is to build a global database of the world's most talented comedians. Jongleurs will also support the comedians with a highly skilled management team who will be able to offer the expertise and guidance that is needed for them to achieve successful careers.  

Commenting on the announcement, Peter Webb, CEO of Webb Capital said: "Jongleurs is synonymous with comedy with a strong brand and management team that has a proven track record. We are delighted to be working with such an ambitious and motivated team and I am confident that we will capture the imagination and support of potential investors through this fundraising."

Maria Kempinska, CEO of Jongleurs commented: "Since regaining control of the Jongleurs brand we have made positive steps in re-establishing the Company in the UK's comedy sector. We set ourselves a target of building a franchise network of 30 clubs and have already established 19.  The completion of this fundraising will catalyse our success to date. Our management team is experienced with huge ambition and we are confident of achieving extraordinary expansion of the business in both the U.K and overseas.''

About Jongleurs:

Jongleurs is one of the most recognised comedy brands in the UK. It was founded in 1983 by the Chief Executive, Maria Kempinska. In 2008, Maria received an MBE of her outstanding contribution to the Entertainment and Leisure industry. The Chairman of Jongleurs, John Davy, joined in 1985, helping to develop and establish the brand in the UK's comedy sector. In addition to Maria, John and finance director and major shareholder, Marios Lourides, Jongleurs has an exceptionally well-experienced team most of whom have been with the company for many years, such as Donna Burns who runs Bookings and has been with Jongleurs for over 10 years. Other important members of the team include: Anas Shaik, Commercial, Rob Wirszycz, Corporate and Constantine Pegonis, IT.

The Company was sold to Regent Inns in August 2000 in a £30 million transaction. However in October 2009, Regents Inn plc carried out a corporate restructuring process and the vendors invoked their right to take back the brand.

The Jongleurs brand was re-established in 2010 and the management have already launched 19 franchises in clubs and theatres throughout the UK with further plans to establish its own sites in key locations.

 

For further information please contact:

Jongleurs PLC

Maria Kempinska                                                   Tel: 0208 222 7112

John Davy                                                             Tel: 07768 077795

Webb Capital PLC                                                            

Peter Webb - CEO                                                  Tel: 0207 634 9510                   

Buchannan Communications                                                    

Tim Anderson, Lisa Baderoon                                  Tel: 0207 466 5000  


This information is provided by RNS
The company news service from the London Stock Exchange
 
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