Marechale Capital Plc - Subscription and Issue of Equity

28 June 2023

Marechale Capital plc

(“Marechale” or the “Company”)

Subscription and Issue of Equity

Marechale Capital Plc (AIM: MAC) is pleased to announce that it has conditionally raised the sum of £235,800 via subscription of 10,480,000 new ordinary shares of 0.8p each in the Company (“New Ordinary Shares”) at a price of 2.25p per share (“Subscription”). 

Details of the Subscription

The Subscription has been made by Chris Kenning who, following admission of the New Ordinary Shares to trading on AIM (“Admission”) will have an interest in 10,480,000 ordinary shares representing 9.89 per cent. of the Company’s enlarged issued share capital. As part of the terms of the Subscription, Chris Kenning will have the right to join the board of the Company, subject to regulatory due process, and has entered into a 12 month orderly market agreement in respect of the disposal of any shares.

The New Ordinary Shares will rank pari passu with the existing ordinary shares. Admission of the New Ordinary Shares is expected to take place on, or around, 30 June 2023. Completion of the Subscription is conditional on Admission.

These shares are being issued at a significant premium to current market price.  As stated in Marechale Capital’s investment update of 11^th May 2023, the Company’s last reported balance sheet showed net assets of approximately £3.48 million, representing approximately 3.6 pence of value per share in issue.

The proceeds of the Subscription will provide the Company with additional working capital and funding for investment and co-investment opportunities that are presented to Marechale in connection with its activity for corporate clients

Total Voting Rights

Following Admission, the Company’s enlarged share capital will comprise 105,941,247 ordinary shares. No shares are held in Treasury. Therefore, the total number of ordinary shares with voting rights will be 105,941,247. 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.

Patrick Booth-Clibborn, CEO of Marechale Capital, commented: “We are delighted Chris is investing at a premium to our share price, having reviewed the value of our investment portfolio as well as joining our board.  Following his success at Stubben Edge he brings a number of new and innovative ideas from digitalisation of Marechale’s activities, to ramping up revenues through strategic partnerships which could significantly enhance future shareholder value.”

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.

Cautionary statement

Certain statements made in this announcement are forward-looking statements. Such statements are based on current expectations and assumptions and are subject to a number of risks and uncertainties that could cause actual events or results to differ materially from any expected future events or results expressed or implied in these forward-looking statements. Persons receiving this announcement should not place undue reliance on forward-looking statements. Unless otherwise required by applicable law, regulation or accounting standard, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.