Marechale Capital Plc Subscription and Issue of Equity

 
TIDMMAC 
 
28 June 2023 
 
                             Marechale Capital plc 
 
                        ("Marechale" or the "Company") 
 
                       Subscription and Issue of Equity 
 
Marechale Capital Plc (AIM: MAC) is pleased to announce that it has 
conditionally raised the sum of £235,800 via subscription of 10,480,000 new 
ordinary shares of 0.8p each in the Company ("New Ordinary Shares") at a price 
of 2.25p per share ("Subscription"). 
 
Details of the Subscription 
 
The Subscription has been made by Chris Kenning who, following admission of the 
New Ordinary Shares to trading on AIM ("Admission") will have an interest in 
10,480,000 ordinary shares representing 9.89 per cent. of the Company's 
enlarged issued share capital. As part of the terms of the Subscription, Chris 
Kenning will have the right to join the board of the Company, subject to 
regulatory due process, and has entered into a 12 month orderly market 
agreement in respect of the disposal of any shares. 
 
The New Ordinary Shares will rank pari passu with the existing ordinary shares. 
Admission of the New Ordinary Shares is expected to take place on, or around, 
30 June 2023. Completion of the Subscription is conditional on Admission. 
 
These shares are being issued at a significant premium to current market 
price.  As stated in Marechale Capital's investment update of 11th May 2023, 
the Company's last reported balance sheet showed net assets of approximately £ 
3.48 million, representing approximately 3.6 pence of value per share in issue. 
 
The proceeds of the Subscription will provide the Company with additional 
working capital and funding for investment and co-investment opportunities that 
are presented to Marechale in connection with its activity for corporate 
clients 
 
Total Voting Rights 
 
Following Admission, the Company's enlarged share capital will comprise 
105,941,247 ordinary shares. No shares are held in Treasury. Therefore, the 
total number of ordinary shares with voting rights will be 105,941,247. This 
figure may be used by shareholders as the denominator for calculations by which 
they will determine if they are required to notify their interest in, or a 
change of their interest in, the Company under the Financial Conduct 
Authority's Disclosure Guidance and Transparency Rules. 
 
Patrick Booth-Clibborn, CEO of Marechale Capital, commented: "We are delighted 
Chris is investing at a premium to our share price, having reviewed the value 
of our investment portfolio as well as joining our board.  Following his 
success at Stubben Edge he brings a number of new and innovative ideas from 
digitalisation of Marechale's activities, to ramping up revenues through 
strategic partnerships which could significantly enhance future shareholder 
value." 
 
This announcement contains inside information for the purposes of Article 7 of 
EU Regulation 596/2014. 
 
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 
 
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

June 28, 2023 02:00 ET (06:00 GMT)