MCAP Macaulay Capital PLC

TIDMMCAP

RNS Number : 0453X

Macaulay Capital PLC

18 December 2023

Macaulay Capital PLC

18 December 2023

Macaulay Capital PLC

("Macaulay Capital" or the "Company")

Loan to investee company

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 agreed to make a loan to a subsidiary of one of its investee companies, Vale Foods (Holdings) Limited ("Vale Foods").

Vale Foods, together with its trading subsidiary, is an established food manufacturing business and was the Company's first investment in May 2022, when the Company raised GBP1 million for Vale Foods, of which it invested a total of GBP200,000 in a combination of 8% loan stock and equity.

Vale Foods has recently moved to new premises to accommodate increased demand for its products, which has required it to take on additional debt finance. This includes a loan of GBP275,000 that comprises GBP125,000 that is to be provided by the Company's subsidiary, Macaulay Management Limited, GBP50,000 to be provided by a director of Vale Foods and GBP100,000 to be provided by David Horner in his personal capacity. The loan is unsecured, carries an interest rate of 10 per cent. per annum, which rolls up and is payable on redemption, and is for a term of up to twelve months.

As David Horner is a director of the Company and is party to the same loan agreement as Macaulay Capital, the loan is deemed to be a related party transaction under the AQSE Rules. The Company's other directors, who are independent of the transaction, having exercised reasonable care, skill and diligence, believe that the loan by David Horner is fair and reasonable as far as the shareholders of the Company are concerned.

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                                     5980 
 
 Cairn Financial Advisers LLP (AQSE Corporate 
  Adviser) 
 James Caithie 
  Louise O'Driscoll                              +44 (0)20 7213 
  Emily Staples                                   0880 
 
 Oberon Capital (Broker) 
                                                 +44 (0)20 3179 
 Chris Crawford                                   5304 
 
   For more information please visit:   www.macaulaycapital.com 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NEXFLFERFDLELIV

(END) Dow Jones Newswires

December 18, 2023 02:00 ET (07:00 GMT)

Macaulay Capital (AQSE:MCAP)
Graphique Historique de l'Action
De Oct 2024 à Nov 2024

Macaulay Capital (AQSE:MCAP)
Graphique Historique de l'Action
De Nov 2023 à Nov 2024