Marechale Capital Plc Investment Update

 
TIDMMAC 
 
11 May 2023 
 
                             Marechale Capital plc 
 
                        ("Marechale" or the "Company") 
 
                               Investment Update 
 
The Directors of Marechale Capital plc (AIM: MAC) are pleased to note the 
announcements by Burgh Island Hotel ("Burgh Island") and Weardale Lithium 
Limited ("Weardale"), companies in which it holds investments. 
 
In 2018, Marechale acted as adviser on the acquisition of Burgh Island.  The 
Company notes that, on 10 May 2023, Burgh Island announced its proposed sale. 
In the event that its sale concludes, the Directors of Marechale anticipate 
there will likely be an opportunity to realise its investment.  Marechale holds 
an interest in 4.9 per cent. of the equity of Burgh Island and the quantum of 
any realisation will depend on the completion terms of the sale. The Company 
will provide a further update to the market in the event of the completion of 
the sale. 
 
Further, the Company also notes the announcement by Weardale on 11 May 2023 
advising that Weardale, a lithium exploration and development business based in 
the Weardale Valley, County Durham in the north of England, has successfully 
extracted lithium carbonate from geothermal brines and that these positive 
tests results are amenable for lithium production.  Weardale further states 
that it now intends to accelerate and scale-up of its testing of increased 
volumes of lithium carbonate towards demonstrating commercial scale production. 
The Directors of Marechale are pleased to note the positive developments at 
Weardale, a company in which it holds an 8.5 per cent. interest. 
 
When the Company's half-yearly results were reported on the 2 December 2022, 
the Company's balance sheet showed net assets of approximately £3.48 million, 
representing approximately 3.6 pence of value per share in issue. 
 
For further information please contact: 
 
Marechale Capital plc                              Tel: [phone] 
Mark Warde-Norbury / Patrick Booth-Clibborn 
 
Cairn Financial Advisers LLP (Nomad)               Tel: [phone] 
Jo Turner / Sandy Jamieson 
 
BlytheRay (Financial PR)                          Tel: + 44 (0)78 7574 4070 
Tim Blythe / Megan Ray                       [e-mail] 
 
About Marechale Capital 
 
Marechale is an established City of London based corporate finance house, with 
a long-term track record and a strong reputation in advising & financing high 
growth consumer brands, leisure, clean energy, and technology companies. The 
Company uses its balance sheet to co-invest in its client companies, along with 
warrants and founder equity, in order to create shareholder value. 
 
Cautionary statement 
Certain statements made in this announcement are forward-looking statements. 
Such statements are based on current expectations and assumptions and are 
subject to a number of risks and uncertainties that could cause actual events 
or results to differ materially from any expected future events or results 
expressed or implied in these forward-looking statements. Persons receiving 
this announcement should not place undue reliance on forward-looking 
statements. Unless otherwise required by applicable law, regulation or 
accounting standard, the Company does not undertake to update or revise any 
forward-looking statements, whether as a result of new information, future 
developments or otherwise. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

May 11, 2023 06:30 ET (10:30 GMT)