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MXC Capital Limited ("MXC" or the "Company") First Investment into Joint Venture with Liberty Global MXC (AIM: MXCP), the technology focused adviser and investor, is pleased to announce that it has made its first investment into MXLG Acquisitions Limited ("MXLG"), its joint venture with Liberty Global Europe 2 Limited ("LGE2") (a wholly owned subsidiary of Liberty Global plc ("Liberty Global")). This investment has enabled MXLG to complete its first acquisition, SICL Limited ("SICL"), a Leeds based, award winning IT infrastructure and network specialist providing a range of on-premises, cloud and hybrid technological solutions and services to its customer base (the "Acquisition"). MXC, together with a co-investor, have each made an equity investment of £2.35 million into MXC JV Limited ("MXCJV") to part fund the Acquisition (the "Investment"). Following the Investment, MXC holds 100% of the voting rights of MXCJV and owns 50% of its issued share capital. MXCJV holds 50% of the issued share capital of MXLG with LGE2 owning the remaining 50%.
Ian Smith, CEO of MXC, commented: "I am pleased to be able to announce the first acquisition by our joint venture with Liberty Global. SICL represents the first step in MXLG's strategy of building an IT services provider focused on small and medium sized business customers within the UK. We are excited to have commenced this journey".
First acquisition with Liberty Global. http://www.lse.co.uk/regulatory-news-article.asp?ArticleCode=lte8hbez&ArticleHeadline=First_Investment_into_Joint_Venture_Liberty_Global
I think this tells me that IDE is well undervalued.....
Topped up on their IDE holding.
From the Financial Times Liberty Global has formed a joint venture with one of the UK's most acquisitive telecoms investors, as it looks to boost the growth prospects of its Virgin Media business unit. The cable company controlled by John Malone has formed an acquisition vehicle with MXC Capital with a view to acquiring small technology and telecoms companies and building a larger business. If successful, the new group could be folded into Virgin Medias business operations at a later date, according to a person with knowledge of the plans. Both companies declined to comment on the deal. MXC has bought and sold 90 UK technology and telecoms companies in the past 15 years, including parts of Redstone, a telecoms company specialising in large properties such as Westfield shopping centre in London, and marketing company 2ergo. The company will take operational control of MXLG Acquisitions, the newly formed joint venture. Liberty Global and MXC have been in talks over the venture for a number of months and have identified a list of targets to build a substantial player in the market for small business telecoms and technology service providers. Virgin Media is a significant player in the business-to-business market, with a particular focus on small and medium-sized enterprises, and has made numerous attempts to expand its business. It held talks with Daisy Group, the small-cap telecoms specialist, about a �500m acquisition in 2014 but did not bid for the company. The deal would have been Liberty Globals biggest UK acquisition since it paid $23.3bn for Virgin Media in 2013. Daisy, which has been reported to be considering an initial public offering in 2018, has rolled up dozens of smaller companies and merged with Alternative Networks, another small-cap telecoms specialist, last year.
Liberty Global and MXC have been in talks over the venture for a number of months and have identified a list of targets to build a substantial player in the market for small business telecoms and technology service providers. Virgin Media is a significant player in the business-to-business market, with a particular focus on small and medium-sized enterprises, and has made numerous attempts to expand its business. Liberty Global owns Virgin Media.
Currently a 9p share price would give MXCP a mkt cap of around �302m This would be quite achievable and reasonable in the not too distant. Their new partners have deep pockets and always get what they want. Interesting fact...John Malone the big cheese at Liberty Global is the biggest landowner in the USA.
You have a small window of opportunity here to make a fortune. This will fly once the new buy and build begins. Which its about too!!
MXCP have some cash ok. Let's be conservative and call it �5m They have warrants in RCN which could become instant cash if a certain deal is done. They have CTP ............. it's getting dumped. They have the ability to raise funds like they have always done via loan/equity deals and projected payments. And.................THEY HAVE THE �40M GUERNSEY FUND....which ahem..........they are advising. It is all about to begin.
MXC Capital Limited (AIM: MXCP) announces that on 9 April 2018 it sold 660,000 ordinary shares of 2 pence each in the capital of Castleton Technology plc ("Castleton") ("Castleton Shares"), at a price of 75.848 pence per Castleton Share (the "Sale Price") (the "Sale"). Following the Sale, MXC holds 19,361,211 Castleton Shares, representing 24.5% of its issued share capital. Valuing MXC's pre-Sale holding of 20,021,211 Castleton Shares at the Sale Price and taking into account the proceeds of £1.66 million from the recent option exercise as announced on 21 February 2018, this would represent a 3.0x return for MXC on its cost of investment in Castleton. Castleton Technology plc ("Castleton") is a leading supplier of complementary software and managed services to the public and not-for-profit sectors listed on the AIM market of the London Stock Exchange. Further details about Castleton (including latest financial reports) are available at www.castletonplc.com. The proceeds of the Sale will be used in line with MXC's stated strategy of investing in technology companies.
Nigel WRAY bought them. Good for MXCP and Castleton.
I wonder where the moneys going ?
Sale of Castleton Tech shares.
Looking for buyers this morning.................?
Massive discount to NAV (2.05p) and zero priced in for Liberty and the new Guernsey fund which MXCP are advisors to.
What going on here I wonder?
I remember those CTP early days. An acquisition every six months or so then another 25 to 30% on the SP while the story continued. Exciting times ahead for MXCP and the story is on its first chapter here! SP on the floor at mo but not for long if history repeats itself.
And this was purely based on the M&A activity which quite possibly will happen here.
Wouldn't this be great to have a CTP type of rise. Back in late 2013 when CTP was 0.6p before rising some 650% in 2/3 years to over 4p before their consolidation or just after(been so long one forgots lol! But 600% is not to be sniffed at for a 24 to 36 month investment imo in safe hands.
That's an interesting point about the new Guernsey fund which MXCP are advisors too. (recent rns) Perhaps this could be in some way linked to the Liberty Global deal. Time will tell as well with the holdings activity over at Redcentric And of course they could always offload any of their investments to gain greater reward elsewhere. I sense the action here soon is about to kick off! Smith and Weather will be back to doing what they do best but this time it's premier league with the big guns and to drive the SP back where it belongs on a personal note to them!
You need to know a little background to all the players here , its important. The Stephens family are one of the wealthiest old style families in the USA. They are worth billions. They are Warren Buffets closest friends. The Stephens family invest in All or most of Smith and Weavers ventures like MXCP and RCN and CTP etc etc. Warren Buffet is the largest shareholder in Liberty Global. Kestrel , invest in ALL the MXCP projects. Nigel Wray (Britain's Warren Buffet) invests in ALL the MXCP projects. Kestrel own about 13% of RCN Coltrane Asset Man own about 25% of RCN Stephens Family owns about 2%of RCN MXCP own several million warrants in RCN MXCP related company investor Richard Griffiths owns about 11% of RCN. MXCP always get support and backing from THE MONEY. I see the SP soaring past 10p in the coming months as the deals are rolled out. This is big. This is as big as it gets. MXCP 1.4p lol yeah.....right. Watch what happens.
Investors need to wake up quickly to this opportunity. MXCP have signed several win win win deals. A joint venture with one of the worlds TOP 20 companies Liberty Global. Liberty Global get 50% and MXCP get 50% Liberty have asked them to build them up an IT Services company by buying and building smaller companies into an industry giant. MXCP get 50% of EVERYTHING. MXCP get FEES for their efforts whilst they are building it up. Liberty Global have deep pockets they normally buyout companies like Virgin Media or Cable and Wireless for BILLIONS. They have handed MXCP a blank cheque. Once this IT Services company which will have a projected value of between �100m to �500m has been built Liberty Global has already stated that VIRGIN MEDIA 'which they own' WILL BUY IT. This is an astounding and staggeringly good deal for MXCP And remember a little goes a long way. MXCP will fund their end by ? Well that part has been pure genius. Look at the most recent RNS and ask yourself what the Guernsey fund might invest in lol. And hey................THEIR PAYING US AS WELL FFS!! Its win win win win and win. MXCP is more than 50% owned by Smith and Weaver. They intend on making massive fortunes out of this. So can you. Oh and RCN looks like being their first purchase. Shhhhh you aint seen me right.
Well last years was on the 9th March so quite possibly.
Just wondering if we'll get one this week or not?