Regulatory Update
11 June 2008
In line with Resolution 8 approved by the majority of shareholders during the Annual General Meeting held on 3 April 2008, ACP Capital Limited (the “Company”: APL.LN) has received formal notification from the Jersey Financial Services Commission (“JFSC”) that the application made by the Company for the revocation of the permit held by the Company under the Collective Investment Funds (Jersey) Law 1988 (“CIF Law”) has been approved by the JFSC with immediate effect.
As the Company is not a collective investment fund as defined in Article 3 of the CIF Law, the Directors are pleased with this revocation and believe the Company will benefit from a reduced cost of compliance, which had previously resulted from a regulatory regime that was not applicable to the Company.
Enquiries:
- Rob Bailhache & Nick Henderson, Financial Dynamics +44 (0) 20 7269 7200 (Media Relations)
- Sacha Macintosh, ACP Capital UK LLP +44 (0) 844 800 4530
- Chris Wells, Collins Stewart Europe Limited (NOMAD) +44 (0) 207 523 8350
About ACP Capital
ACP Capital is a Jersey-incorporated specialist integrated finance and asset management company, quoted on AIM and focused on providing equity and debt products to European small and medium sized enterprises (the “SMEs”).
ACP Capital aims to benefit from opportunities generated from the strong growth in SME demand for integrated finance, combined with the reduced appetite for SME lending among traditional banks owing to higher regulatory capital requirements.
In order to better serve the SME markets directly, ACP Capital is establishing localised operating platforms (the "Platforms") in its key markets of Germany, France and the United Kingdom. These include to-date Leasecom, a leading SME finance provider in France, and GCI, a specialist private equity firm for the German SME market. Further Platforms are being evaluated currently to serve the remaining key markets.