ACP Capital exercised Option Deed in ACP Mezzanine
6 June 2008
ACP Mezzanine Limited (“ACP Mezzanine”: ACPM.LN) the closed-ended investment company focused on lending to European small and medium-sized enterprises (“SMEs”) today announces that ACP Capital Limited (“ACP Capital”: APL.LN) has exercised part of the Options granted to it pursuant to the Option Deed dated 20 July 2006 between ACP Mezzanine and ACP Capital. As a result, ACP Mezzanine will allot 1,000,000 ordinary shares in ACP Mezzanine to ACP Capital at the Option Deed price of €1 per ordinary share. As disclosed in the Admission Document of ACP Mezzanine in July 2006, this exercise of part of the options under the Option Deed will not result in ACP Capital being obliged to make a general offer to acquire all shares in ACP Mezzanine. ACP Capital, following the issue of the 1,000,000 ordinary shares in ACP Mezzanine, shall own 47.34% of the issued share capital of ACP Mezzanine.
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
- Philip Secrett/ Fraser Campbell, Grant Thornton Corporate Finance (NOMAD) +44 (0) 207 383 5100
About ACP Mezzanine
ACP Mezzanine Limited is a Jersey-incorporated, closed ended investment company quoted on AIM. It is a provider of sub-investment grade finance to European small and mid-sized enterprises – with a primary focus on the UK, France, Germany and Italy – originating, structuring and underwriting the majority of its investments through ACP Capital Limited and ACP Capital’s European network. ACP Mezzanine aims to optimise risk-adjusted returns by actively managing its portfolio and to distribute at least 85% of profits as dividends.
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.