Macaulay Capital PLC Completion of Transaction (7089B)

TIDMMCAP

RNS Number : 7089B

Macaulay Capital PLC

06 June 2023

Macaulay Capital PLC

6 June 2023

Macaulay Capital PLC

("Macaulay Capital" or the "Company")

Completion of transaction

Macaulay Capital PLC (AQSE:MCAP), which was formed to originate and manage corporate transactions, raise funds from third parties, invest its own funds alongside those of external investors and to manage its investment portfolio with the aim of maximising its value, announces that it has completed its third transaction.

On 5 June 2023, Macaulay Capital and its wholly owned subsidiary, Macaulay Management Limited (together, the "Group"), completed a transaction (the "Transaction") to raise GBP0.94 million to be invested in Kelda Showers Limited, a company which has developed a disruptive water and energy-saving solution to the shower market.

The Transaction, which is in ordinary shares and expected to be eligible for EIS, is part of an ongoing raise of a minimum of GBP1.75m and is being supported by Kelda's management and existing shareholders, together with a number of new investors.

Whilst the Group has not itself invested in Kelda as the investment is entirely in ordinary shares, David Horner and Richard Bucknell have invested GBP100,000 and GBP20,000 respectively in the Transaction. As Mr Horner and Mr Bucknell are directors of the Company, their investments in the Transaction are deemed to be related party transactions under the AQSE Rules. The Company's other director, Lindsay Mair, having exercised reasonable care, skill and diligence, believes that the investments by David Horner and Richard Bucknell are fair and reasonable as far as the shareholders of the Company are concerned.

Related fees payable to the Group comprise an arrangement fee of approximately GBP47,000 and an ongoing monitoring fee of GBP20,000 per annum.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

ENDS

Enquiries:

 
  Macaulay Capital PLC 
                                                 +44 (0)20 3946 
 Clive Milner                                     5981 
 
 Cairn Financial Advisers LLP (AQSE Corporate 
  Adviser) 
 James Caithie                                   +44 (0)20 7213 
  Louise O'Driscoll                               0880 
 
 Oberon Capital (Broker) 
                                                 +44 (0)20 3179 
 Chris Crawford                                   5304 
 
   For more information please visit:   www.macaulaycapital.com

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END

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

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