MXC Capital Limited Board Change (2193Y)

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RNS Number : 2193Y

MXC Capital Limited

04 December 2017

MXC Capital Limited

("MXC" or the "Company")

Board Changes

MXC Capital Limited (AIM: MXCP), the technology focused merchant bank, announces that Ian Smith, co-founder of MXC, has joined the Board as Chief Executive and will lead the strategic development of the Company going forward. Marc Young has stepped down from the Board to take responsibility for launching a new MXC investment strategy focusing on privately owned growth technology businesses. Marc played a central role in bringing MXC to the AIM market and its subsequent funding. Marc will join the Company's Advisory Board as well as remaining Managing Partner of MXC Capital Markets LLP.

The Board welcomes Ian Smith to the role and would like to thank Marc Young for his contribution to the Board during the past three years.

MXC Capital Limited

Ian Smith

[phone]

Zeus Capital Limited (Nominated adviser and broker)

Giles Balleny

[phone]

The following additional information is provided in accordance with paragraph (g) of Schedule Two to the AIM Rules for Companies ("AIM Rules"):

Andrew Ian ("Ian") Smith, aged 53, holds 518,550,515 ordinary shares of no par value in the capital of the Company ("Ordinary Shares"), representing 15.44% of the total voting rights. Of these, Ian holds 472,750,220 Ordinary Shares personally, with the remaining 45,800,295 held by his Self-Invested Pension Plan.

 
 Current Directorships       Directorships held over the last 5 years 
 Unitranche Ltd              Fastnet Systems Plc 
 MXLG Acquisitions Limited   Dialnet Plc 
 MXC Guernsey Limited        MXC Capital Finance Limited 
                             Mathian (CM) Limited 
                             Mantin Capital Limited 
                             Castleton Software Solutions Ltd 
                             Castleton Managed Services Ltd 
                             Castleton Technology Intermediate Holding Company Limited 
                             Castleton Technology Holdings Limited 
                             Castleton Technology plc 
                             Kypera Holdings Limited 
                             Kypera Limited 
                             Homteam.Net Limited 
                             Castleton Financial Modelling Solutions Ltd 
                             Impact Applications Limited 
                             MXC Holdings Limited 
                             365 Agile Limited 
                             Montal Group Limited 
                             Montal Computer Systems Limited 
                             Redcentric Plc 
                             MXC Capital (UK) Limited 
                             Redstone Converged Solutions Limited 
                             MXC Capital ListCo plc 
                             Mathian (Newco) LLP 
 

Ian Smith was a director of Decorum Networks Limited which was dissolved on 30 August 2007 with a deficiency to creditors of GBP619,305. Ian was also a director of Broadblue Catamarans Limited which was dissolved on 29 November 2016 and Broadblue Catamarans Sales Limited which was dissolved on 5 August 2009. The aggregate deficiency to members and unsecured creditors of both companies was estimated at GBP612,593.

Save as set out above, there is no information specified by paragraph (g) in Schedule Two to the AIM Rules that is required to be disclosed.

About MXC Capital (www.mxccapital.com)

MXC is a specialist merchant bank with a track record of investing in and advising companies in the TMT sector. We bring together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which we combine to grow shareholder value.

This information is provided by RNS

The company news service from the London Stock Exchange

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December 04, 2017 02:00 ET (07:00 GMT)