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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Marwyn Cap I | LSE:MCIL | London | Ordinary Share | KYG587891014 | ORD 0.1P (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 15.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Investor Marwyn Investment Management LLP Thursday said it has bought a loss-making gas transport business from National Grid PLC (NG.LN) and intends to bring it to London's junior Alternative Investment Market with a GBP11 million fundraising.
Marwyn said it plans to turn the company around and re-establish it as a market leader in gas connections and transport.
Marwyn said its listed vehicle Marwyn Capital I Ltd. (MCIL.LN) bought Fulcrum Group Holdings Ltd. from National Grid for a nominal GBP10 in a reverse takeover.
Marwyn Capital I will be renamed Fulcrum Utility Services Ltd. when the deal goes through and it is admitted to AIM.
The enlarged company has agreed to raise GBP11 million in a share sale at 12 pence a share. The money will be used to fund its turnaround.
Gas industry veteran John Spellman has been named chief executive.
Shareholders in the enlarged group include insurer Legal & General Group PLC (LGEN.LN), utilities and energy investor Ecofin Water and Power and fund managers Artemis and F&C.
-By Jason Douglas, Dow Jones Newswires; 44-20-7842-9272; jason.douglas@dowjones.com
1 Year Marwyn Cap I Chart |
1 Month Marwyn Cap I Chart |
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