Exercise of Options

    RNS Number : 2276W
  ACP Capital Limited
  06 June 2008
   

    ACP Capital Exercises Part of Option Deed in ACP Mezzanine

    ACP Capital Limited ("ACP Capital" or the "Company": APL.LN), the specialist integrated finance and asset management company focused on
European small and medium sized enterprises ("SME"s), announces it has exercised part of the Options granted to it pursuant to the Option
Deed dated 20 July 2006 between the Company and ACP Mezzanine ("ACP Mezzanine": ACPM.LN), as recently announced by ACP Mezzanine. As a
result, ACP Mezzanine will allot 1,000,000 ordinary shares in ACP Mezzanine to ACP Capital at the Option Deed price of EUR1 per ordinary
share. As disclosed in the Admission Document of ACP Mezzanine in July 2006, this partial exercise of the options under the Option Deed will
not result in ACP Capital being obliged to make a general offer, under Rule 9 of the City Code on Takeovers and Mergers, to acquire all the
ordinary shares in ACP Mezzanine. 

    ACP Capital, following the issue of the 1,000,000 ordinary shares in ACP Mezzanine, shall own 47.34% of the issued share capital of ACP
Mezzanine. In addition, following the exercise, ACP Capital has 9,141,200 options outstanding over the issued ordinary share capital of ACP
Mezzanine.

    ACP Capital also intends to subscribe for 79,219,798 placing shares as part of ACP Mezzanine's recently announced secondary fundraising,
for approximately EUR47.5 million, payable from ACP Capital's cash resources. ACP Capital's aggregate holding of ordinary shares in ACP
Mezzanine following the secondary equity placing will amount to 127,699,798 ordinary shares, representing 54.17% of the ordinary shares in
issue.

    ACP Mezzanine generated profit before tax of EUR10.2 million for the year ended 31 December 2007, and had gross assets of EUR146.5
million as at 31 December 2007.

    Derek Vago, Chief Executive Officer of ACP Capital, commented:

    'We are very pleased with the success of ACP Mezzanine's capital raise, which will fund the growth of our lending business in our core
markets. The exercising of the Options is a demonstration of our commitment to further develop and grow ACP Mezzanine's business.'

    Enquiries:
 Rob Bailhache & Nick Henderson, Financial Dynamics   
 (Media Relations)                                   [phone]

 Sacha Macintosh, ACP Capital UK LLP                 [phone]

 Chris Wells, Collins Stewart Europe Limited
 (NOMAD)                                             [phone]


    For further information on ACP Capital or ACP Mezzanine, please visit www.acpcapital.com.


    About ACP Mezzanine 

    ACP Mezzanine Limited is a Jersey-incorporated, closed ended investment company quoted on AIM. It is a provider of sub-investment grade
finance to European small and mid-sized enterprises - with a primary focus on the UK, France, Germany and Italy - originating, structuring
and underwriting the majority of its investments through ACP Capital Limited and ACP Capital's European network. ACP Mezzanine aims to
optimise risk-adjusted returns by actively managing its portfolio and to distribute at least 85% of profits as dividends. ACP Capital
Limited, through a subsidiary, acts as its investment manager.

    About ACP Capital

    ACP Capital is a Jersey-incorporated specialist integrated finance and asset management company, quoted on AIM and focused on providing
equity and debt products to European small and medium sized enterprises (the "SMEs"). 

    ACP Capital aims to benefit from opportunities generated from the strong growth in SME demand for integrated finance, combined with the
reduced appetite for SME lending among traditional banks owing to higher regulatory capital requirements. 

    In order to better serve the SME markets directly, ACP Capital is establishing localised operating platforms (the "Platforms") in its
key markets of Germany, France and the United Kingdom. These include to-date Leasecom, a leading SME finance provider in France, and GCI, a
specialist private equity firm for the German SME market. Further Platforms are being evaluated currently to serve the remaining key
markets.


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