Macaulay Capital PLC - Completion of Transaction

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 £0.94 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 £1.75m 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 £100,000 and £20,000 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 £47,000 and an ongoing monitoring fee of £20,000 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:

For more information please visit: www.macaulaycapital.com