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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Acp Capital | LSE:APL | London | Ordinary Share | GB00B0T9K295 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.375 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:9934S ACP Capital Limited 15 March 2007 ACP Capital Limited (AIM: APL) 15 March 2007 Investment Opportunities Update Further to the announcement of its intended development plans on 6 February 2007, ACP Capital Limited ("ACP Capital" or the "Company") confirms that discussions are ongoing regarding, amongst others, the following investment opportunities: * It has entered into discussions with Beacon, a leading UK residential mortgage lender, regarding a possible investment in the company. * It has initiated discussions with Crown Northcorp on a possible collaboration in European real estate lending. * It has entered into exclusive discussions with a privately owned leasing specialist focusing on the French SME sector, with a view to acquiring up to 49% of the company. * It has entered into discussions with Investimenti e Sviluppo s.p.a., a listed company on the Italian Stock Exchange, for a possible investment in Finleasing Lombarda S.p.A, which was recently subject to a binding acquisition contract for 100% of its shares by Investimenti e Sviluppo S.p.A. These transactions form part of ACP Capital's strategy to be a leading integrated finance provider for the continental European SME market. As previously announced, it is the Company's intention to raise approximately #150 million to fund its intended development plans. Commenting, Derek Vago, Chief Executive Officer of ACP Capital said: "Our ongoing discussions with our partners on the investment opportunities reflect what we have told investors during the placing presentations and confirm the progress made by ACP Capital in its first year and the start of its second year, particularly now with the intended establishment of origination platforms to further develop the Company in its four key markets (UK, Germany, France and Italy). The interest of these parties to further develop their business and diversify their loan products, together with ACP Capital, in the continental European SME market reflects their belief in our abilities and strategy. Support for our strategy has also been shown by the strong interest from both new and existing institutional investors in our proposed fundraising which, we believe, is going well and we look forward to closing it early next week." Enquiries to: ACP Capital Limited +44 (0)20 7082 3917 Collins Stewart Europe Limited (Nominated Advisor to the Company) Simon Atkinson: +44 (0)20 7523 8350 Notes to Editors: ACP Capital Limited ACP Capital is a Jersey-incorporated specialized integrated finance and asset management company focusing on both the asset-backed and non asset-backed sectors in the European small and mid-sized enterprise (SME) market. The company's shares were admitted to trading on AiM in January 2006, raising approximately #50m before costs, followed by a further #15m share placing in December 2006. In February 2007, the company announced its intention to pursue a further capital raise in the region of #150m in 2007 in order to finance its intended development plans, including the development of additional funding lines, managed vehicles and strategic platforms (as announced 6 February 2007). As an integrated finance specialist, ACP Capital offers a combination of equity, mezzanine and senior debt to companies in niche markets, such as the German "Mittelstand" (small and middle-sized privately-owned companies), and for asset backed transactions, for example, in the real estate and infrastructure sectors. The company intends to put in place levered loan and non-investment grade funding vehicles in order to complement its current product base with a view to providing financing solutions across the capital structure. As an asset manager, ACP Capital manages a series of investment vehicles that can provide the required funding for its integrated finance capabilities. ACP Capital intends to launch at least 2 managed vehicles each year in specific sectors in its target markets. These managed vehicles are intended to take advantage of the planned flow of asset opportunities from the expansion of the company's funding capabilities and strategic platforms. ACP Capital intends to receive management and performance related fees from these vehicles in addition to any share price increase as a strategic equity investor. To date, ACP Capital has launched 2 such vehicles, ACP Mezzanine and IFR Capital. As announced on 8 March 2007, ACP Capital has raised a committed leverage facility of #125m with Deutsche Bank for ACP Senior High Yield, a soon-to-be-launched managed vehicle focusing on the acquisition of European senior debt assets originated primarily through ACP Capital's SME-focused integrated finance business, and through the primary and secondary markets. Results- FY 2006 For the period 30 August 2005 to 31 December 2006, ACP Capital generated total income and increase in fair value of investments of #19.0 million and a net profit of #15.0 million with diluted earnings per ordinary share of 21.5 pence for the period. ACP Capital paid out a dividend of 3.0 pence per ordinary share, representing an increase from the target of 2.0 pence per ordinary share stated in the company's admission document published in December 2005. Senior Management Derek Vago, CEO, was previously managing director and co-head of the Asset Finance Group (AFG) at Nomura International plc where he was responsible for all balance sheet activities including equity, mezzanine, and senior debt financing across both asset backed and non asset-backed sectors. Among transactions he led for AFG were the acquisition of seven Center Parcs European assets and the acquisition of Earls Court and Olympia. In 3 years Derek built the AFG into a 30-strong team generating upwards of #40m in revenues with a book of approximately #2 billion. Derek was previously co-head of the European Real Estate Investment Banking Group of Credit Suisse First Boston in London and has over 15 years experience in international financial markets and corporate finance. Eric Youngblood, CFO, has 18 years experience in Global Structured Finance, primarily in Securitisation. He was most recently at Nomura International plc where he was the Head of Asset-Backed Securitisation for AFG. Prior to Nomura, Eric was Director of Securitisation at CDC IXIS Capital Markets, where he was responsible for developing the company's international securitisation activities outside of France. Earlier in his career, Eric was Managing Director, Head of Structuring at Bear Stearns in both Madrid and London and Head of Asset Securitisation for Commerzbank in London. Nikolaj Larsen, Managing Director, Head of Strategic Investments has 6 years experience in Investment Banking. Prior positions include Head of Core Underwriting in the AFG team at Nomura International plc where he focused on asset backed deals such as the Earls Court and Olympia acquisition and non-asset backed deals such as the acquisition and financing of Nordsee GmbH for the German food retailer Kamps Food Retail Investment SA ("KFRI"). Non executive directors include Heiner Kamps, founder of Kamps AG and a leading retail operator in Germany, and Francois Georges, former CEO of Pierres & Vacances. Mr. Kamps and Mr. Georges provide direct access to opportunities arising in Germany and France. Alan Braxton, a further non executive director is currently managing director of Presidio Partners, a leading international private placement advisor. Jeff Bennett, CIO, ACP Mezzanine Limited has over 18 years of non-investment grade financing experience, most recently at Morgan Stanley where he was a Managing Director in the Leveraged Finance Group. During his time at Morgan Stanley, Jeff structured some of the largest European financings including: the Euro10bn financing package for Ineos Group Holdings' acquisition of Innovene, the #1.4bn financing to support the public to private leveraged buyout of Debenhams, and a Euro30bn senior bank facility for France Telecom. This information is provided by RNS The company news service from the London Stock Exchange END TSTBCGDXLSBGGRS
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