3 Aug 2015 07:01
MXC Capital Limited
("MXC" or the "Company")
Proposed IPO of Investee Company 365 Agile Limited
MXC is pleased to announce the proposed flotation on AIM of 365 Agile Limited ("365 Agile"), an innovative, IP rich software business that enables mobile working and monitoring for field based workforces. The flotation will be effected by way of a reverse takeover of Iafyds plc. Iafyds plc today announced the proposed transaction which will be effected by Jafyds acquiring 365 Agile and seeking re-admission to AIM. The company will be renamed 365 Agile PLC (AIM: 365).
MXC is pleased to have supported the management of 365 Agile from our £250,000 seed investment, to helping to identify and execute two acquisitions on the way to this transaction. MXC Capital Advisory LLP is retained as financial advisor to 365 Agile.
Upon admission to AIM, MXC will be interested in 23.2% of the equity in 365 Agile and will hold a warrant over 5 per cent. of the company's issued share capital. Jill Collighan, Finance Director of MXC, will join the Board of 365 Agile to act as the company's CFO.
Peter Rigg, Chairman of MXC, commented "365 Agile has developed exceptional technology that enables more efficient mobile working and harnesses the power of the Internet of Things. Future applications of the software and the IoT IP are very broad and we shall support their expansion into new markets.
"We believe that this is an exciting investment for our shareholders and look forward to continuing to work with the team at 365 Agile to realise its full potential".
Jonathan Holyhead, CEO of 365 Agile, comments "Joining AIM is a big step in realising the potential of the technology we have developed. We are very grateful to MXC for its guidance and continuing support".
Contact :
MXC Capital Limited | |
Marc Young | +44 (0)20 7965 8149 |
Zeus Capital Limited (Nominated adviser and broker) | |
Nick How / John Treacy | +44 (0)20 7533 7727 |
Alma PR | |
Josh Royston / Hilary Buchanan | +44 (0)7780 901979 / +44 (0)7515 805218 |
About MXC Capital
MXC is a specialist merchant bank with a track record of investing in and advising companies in the TMT sector. We bring together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which we combine to grow shareholder value.