Prime Active Capital PLC Completion of Disposal (7204Q)

TIDMPACC

RNS Number : 7204Q

Prime Active Capital PLC

03 September 2014

Completion of Disposal

Prime Active Capital plc ("PAC") or "the Company")

Further to the disposal of the US assets to ABC Phones of North Carolina, Inc. ("the Disposal") announced by PAC on the 1 August 2014 and the approval of the Disposal by shareholders at the EGM of the 22 August 2014, PAC is pleased to announce that the Disposal has now completed and the Company is now an investing company for the purposes of AIM Rule 15 and ESM Rule 15.

The Company has repaid the Mosaic Loan Facility. Mr Smith's board position was co-terminous with repayment of the Mosaic Loan Facility. The board of PAC have considered Mr Smith's role on the board to be of great value and so it has been decided that Mr Smith will continue on the board for the foreseeable future to provide continuity and assist in the identification and review of suitable acquisitions going forward.

The Company's investing policy is to invest in and/or acquire companies active in the technology, media or entertainment sector. The Directors intend to focus primarily on the UK and Ireland where the Directors believe that there are suitable opportunities, although other countries may also be considered to the extent that the Board considers that value opportunities exist and attractive returns can be achieved. Further details on the Company's investing policy may be reviewed at www.pacplc.com

 
For further information contact: 
                                   Nominated Adviser / ESM Adviser 
Prime Active Capital plc           Davy Corporate Finance 
Dermot Martin, Executive Chairman   Anthony Farrell / Eugenee Mulhern 
+ 353 1 295 9895                   + 353 1 679 6363 
 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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