24 Jun 2019 07:00
24 June 2019
CIP MERCHANT CAPITAL LIMITED
("CIP Merchant Capital" or the "Company")
Syndication of minority stake of 7Star investment
CIP Merchant Capital is pleased to announce that, further to its announcement of 7 December 2018 regarding its investment in 7Star S.r.l. ("7Star"), a private Italian veterinary clinics chain, that it has now successful syndicated a minority stake of its aggregated investment in 7Star to certain investors ("Syndication").
Pursuant to the Syndication, the Company's investment in 7Star will be reduced by €1.70 million from, in aggregate, €6.11 million to €4.41 million. The resulting interest will be split €1.88 million as equity and €2.53 million as an interest free loan. Following the Syndication, the Company's economic interest in 7Star will therefore reduce from 49 per cent. to 35.4 per cent., though the Company will retain control of the voting rights over the shares transferred pursuant to the Syndication.
[Depending on the class tests further info on 7Star, including its financial results for 31 Dec 18, may need to be included.]
For further information, please contact:
Merchant Capital Manager Limited (Investment Manager) Marco Fumagalli Carlo Sgarbi
| +41 91 225 25 60 |
Strand Hanson Limited (Financial & Nominated Adviser and Broker) Richard Tulloch / James Bellman | +44 20 7409 3494 |
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.