Marechale Capital Plc - Placing, Subscription and Issue of Equity

26 January 2021

Marechale Capital plc

(“Marechale” or the “Company”)

Placing, Subscription and Issue of Equity

Marechale Capital Plc (AIM: MAC) is pleased to announce that it has conditionally raised the sum of £250,000 before expenses via a placing and subscription of 20,000,000 new ordinary shares of 0.8p each in the Company (“New Ordinary Shares”) at a price of 1.25p (“Placing Price”) per share (“Fundraise”). 

Marechale is an established corporate finance firm providing strategic, M&A and advisory services primarily to hospitality and renewable energy companies in the UK and Europe.  Marechale also finances earlier stage and growth capital companies from its family office, private investor and private equity relationships. The purpose of this strategic fundraising is to put the Company in a better position to take advantage of investment and co-investment opportunities that are presented to Marechale in connection with its activity for corporate clients.  The Company sees significant potential for growth within the hospitality and leisure industries and the technology sector as the economy recovers from the current pandemic and the Directors consider that a stronger balance sheet will allow it greater scope to capitalise on and participate in financing opportunities.

The Fundraise has been completed by a number of new and existing investors, including the Company’s Chief Executive, Patrick Booth-Clibborn, who has invested £20,000 to subscribe for 1,600,000 New Ordinary Shares at the Placing Price. Following Admission, Patrick Booth-Clibborn will hold a total of 9,844,740 ordinary shares representing 12.7 per cent. of the Company’s enlarged issued Share Capital.  Chris Akers, who has also participated in the Fundraise, will, on Admission, have an interest in 7,690,000 shares representing 9.9 per cent. of the Company’s enlarged issued share capital.

The New Ordinary Shares will rank pari passu with the existing ordinary shares. Application will be made for the new shares to be admitted to trading on AIM with admission expected to take place on, or around, 9 February 2021 (“Admission”). Completion of the Fundraise is conditional on Admission.

Following Admission, the Company’s enlarged share capital will comprise 77,681,151 ordinary shares. No shares are held in Treasury. Therefore, the total number of Ordinary Shares with voting rights will be 77,681,151. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in, or a change of their interest in, the Company under the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules.

The participation in the Fundraise by Patrick Booth-Clibborn is a related party transaction pursuant to Rule 13 of the AIM Rules for Companies. With the exception of Patrick Booth-Clibborn, the directors consider, having consulted with the Company's Nominated Adviser Cairn Financial Advisers LLP, that the terms of the transaction are fair and reasonable insofar as shareholders are concerned.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

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Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them