AVA.L Regulatory News (AVA)

29 Jun 2005 10:58

Avanti Capital PLC29 June 2005 Avanti Capital plc Full Year pre-close Investment Update Avanti Capital plc, ("the Company") the private equity company, is updating themarket today prior to its year-end on 30 June 2005. Po Na Na The Company had previously announced that following a number of approaches itappointed advisers to handle the sale of Po Na Na. The Company is advancing discussions with a number of parties regarding thesale. Shareholders will have noted that a number of larger estates in the sectorhave, more recently, been marketed for sale and this has had some impact on oursale process. The Company continues to believe that Po Na Na will be part of thesector consolidation currently being played out. mBlox mBlox is a leading European and US provider of SMS services. During the firstquarter of 2005, mBlox has achieved strong growth in its principal markets,recording revenue growth in line with its ambitious internal budgets. The demand for SMS delivery and billing services continues to grow and as aleader in this sector mBlox is in a very strong position. The Company believes that there will be corporate activity in this sector and isfully supportive of mBlox in pursuing its strategic goal of establishing itselfas the market leader. Medcenter Medcenter, a new investment, aims is to improve communications between thepharmaceutical industry and the prescribing and dispensing community concerningthe use and efficiency of pharmaceutical products and treatments. Medcenter raised US$4m on 27 June 2005 in a fifth round financing. In this roundthe Company invested US$500,000 for a minority stake. The funds are to be usedfor international expansion. Legacy Portfolio The Company reiterates its policy of disposing of its investment in the legacyportfolio at the earliest possible time. The book value of the legacy portfoliois not material. New Investments During the first half of 2005, the Company has sourced and reviewed manyopportunities and currently is in discussions with a number of companies with aview to making new investments during the coming months. Contact: Avanti Capital plc 020 7070 7070 Julian Fellerman , Joint CEO Richard Kleiner, Joint CEO Notes to Editors Avanti Capital is a private equity company. Unlike conventional close endedprivate equity funds, Avanti has no set investment timetable and focuses on thequality of individual investments rather than a portfolio strategy-led highquantity investment ethic. Avanti has an executive team with extensive experience of investing in andrunning companies across a wide range of sectors. The professional backgroundsand business experience of the executive team enable Avanti to see value insituations which may be unattractive to the other investors. The presence ofstructural issues within business are seen as an opportunity to create morevalue from any particular investment. Avanti's approach to investments is both rigorous and discerning and reflectsthe fact that it is seeking exceptional opportunities to invest in businesseswith high quality management teams and where Avanti's own management can feeltruly passionate about the business's prospects. Avanti's investment criteria are as follows: - • European businesses. • Strong management with a proven track record. • Wide ranging businesses, which show the potential for material growth in the short to medium term, including consumer brands, leisure, retail and specialist support services. • Undervalued businesses or assets in both the public and private arena. • Where appropriate, the company will seek to raise debt finance to part fund any investment. Avanti Capital is listed on the Alternative Investment Market of the LondonStock Exchange and therefore offers shareholders participation in private equitydeals through a quoted vehicle. This information is provided by RNS The company news service from the London Stock Exchange