Marechale Capital Plc - Placing, Subscription and Issue of Equity

02 March 2022

Marechale Capital Plc

(“Marechale” or the “Company”)

Placing, Subscription and Issue of Equity

Marechale Capital Plc (AIM: MAC), an established City of London based corporate finance house, with a long-term track record and a strong reputation for advising and financing high growth consumer brands, leisure, clean energy, mineral extraction and technology companies, is pleased to announce that the Company has raised gross proceeds of £207,500.01 through the issue of 6,916,667 new ordinary shares (“New Ordinary Shares”) at a placing price of 3p per New Ordinary Share (the “Placing Price”) (the “Fundraise). The Placing Price represented a premium of 13.21 per cent. to the market value per ordinary share as at close of business on 1 March 2022.

Marechale has had a number of successful realisations on investments and has a number of high growth investments on its balance sheet which could also have significant uplift across the mineral extraction, hospitality, renewables and technology sectors. The net proceeds of the Fundraise are intended to put the Company in a better position to take shares, founder shares or long-term warrants in lieu of or in addition to cash fees in connection with its activity for corporate clients. 

The investors in the Fundraise comprise a number of new investors and existing shareholders, including the Company’s Chief Executive, Patrick Booth-Clibborn, and Luke Johnson, past Chairman of Channel 4 Television and Pizza Express with current directorships including Gail’s Artisan Bakery who acquired a stake in the Company last September. Patrick Booth-Clibborn has subscribed for 583,333 New Ordinary Shares in the Fundraise totalling £17,499.99. Following Admission, Patrick Booth-Clibborn will hold a total of 9,660,198 ordinary shares representing 10.13 per cent. of the Company’s enlarged issued share capital with Luke Johnson holding a total of 8,883,333 ordinary shares representing 9.26 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 Ordinary Shares to be admitted to trading on AIM with admission expected to take place on, or around, 14 March 2022 (“Admission”). Completion of the Fundraise is conditional on Admission.

Total Voting Rights

Following Admission, the Company’s enlarged share capital will comprise 95,377,914 ordinary shares of 0.8 pence each. All of the ordinary shares carry voting rights and the Company holds no shares in treasury. 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.

Related Party Transaction

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.

Patrick Booth-Clibborn, CEO of Marechale Capital, said: “We are seeing significant potential for growth within the hospitality and clean energy industries as well as the technology sector as the economy recovers from the current pandemic and this successful raise highlights the confidence our shareholders have in the Company making the most of these opportunities. This raise allows us to take advantage of our ability to invest in founder equity in our pipeline of new corporate finance projects as well as existing clients alongside warrants and advisory fees. We will continue to keep the market updated on further investments which provide our shareholders exposure to equity in companies and projects we advise on.”

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

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About Marechale Capital

Marechale is an established City of London based corporate finance house, with a long-term track record and a strong reputation in advising & financing high growth consumer brands, leisure, clean energy, and technology companies. The Company uses its balance sheet to co-invest in its client companies, along with warrants and founder equity, in order to create shareholder value.