SGM.L Regulatory News (SGM)

27 Jul 2007 07:01

Sigma Capital Group PLC27 July 2007 For Immediate Release 27 July 2007 SIGMA CAPITAL GROUP PLC ("Sigma" or the "Company") Second Closing of Sigma Sustainable Energy Fund II at £45 Million Investment in Sigma by Elsina Limited And Trading Update Sigma Capital Group plc (AIM:SGM), the specialist asset management and advisorygroup, is pleased to announce:- • A second closing of the Sigma Sustainable Energy Fund II (the "Fund"), at £45 million; and • An investment of approximately £0.9 million into the Company by Elsina Limited, advised by Vincent Tchenguiz's Consensus Business Group. Graham Barnet, Chief Executive of Sigma said "We are delighted to announce asecond close of the Sigma Sustainable Energy Fund II, particularly as we havebeen able to attract such a significant investor as Elsina Limited to both theFund and as a major shareholder in Sigma. We believe the profile of the Fund'sinvestors demonstrates the commitment of UK businesses to supporting the driveto find renewable energy solutions. We also see the recent addition of ElsinaLimited and West Coast Capital as significant shareholders in Sigma as apositive step in the continued development of the Sigma business." Sigma Sustainable Energy Fund II Sigma is pleased to announce a second closing of the Sigma Sustainable EnergyFund II at £45 million with a limited partner commitment of £10 million fromElsina Limited. This brings the current number of investors in the Fund to five,the other four being Scottish and Southern Energy plc(1) (£10 million), Bank ofScotland Corporate(2) (£12.5 million), West Coast Capital(3)(£10 million) andSigma Technology Investments Limited (£2.5 million). The Fund remains open tolimited partners until 13 June 2008 and Sigma expects to admit additionallimited partners during that period. Investment in Sigma by Elsina Limited In addition, Sigma is pleased to announce that Elsina Limited has agreed toinvest £982,724.46 in Sigma. Sigma has agreed to allot 1,724,078 new ordinaryshares of £0.01 each (the "Placing Shares") at a price of 57p per share toElsina Limited. This follows the investment of £2,429,148.50 in Sigma by TBHInvestments Limited, a subsidiary of West Coast Capital, which was approved atan extraordinary general meeting of the Company held on 10 July 2007. ThePlacing Shares will rank pari passu with the existing ordinary shares of theCompany in issue and application has been made to the London Stock Exchange forthe Placing Shares to be admitted to trading on AIM. Dealings are expected tocommence in the Placing Shares on 1 August 2007. Following the issue and admission to trading on AIM of the Placing Shares, theCompany will have 45,163,935 ordinary shares of £0.01 each ("Ordinary Shares")in issue, of which Elsina Limited will in aggregate be beneficially interestedin 4,224,078 ordinary shares, representing approximately 9.35 per cent of theenlarged issued share capital of the Company. Trading Update Since the announcement of our preliminary results on 24 April 2007, Sigma'sprivate equity funds under management have increased by over 155% to £74million. The Company's latest private equity fund, the Sigma Sustainable EnergyFund II, currently stands at £45 million of funds under management. We areconfident of attracting further investors to this fund which has a target of£100 million of funds under management. As a result of the two placings of in aggregate 6,582,375 new Ordinary Shares,we will have strengthened our balance sheet by approximately £3.4 million andgained two significant shareholders, namely TBH Investments Limited, asubsidiary of West Coast Capital, and Elsina Limited. We are active across all sectors in our business and, as previously reported,the property subsidiary completed its sixth property limited partnership in thefirst half generating gross fees of £4 million. In particular, we are pleasedwith the significant strengthening to our business model that the increase inprivate equity funds under management brings together with the increased profileand opportunities that arise from working with such active and credibleinvestors and partners. This is evidenced by the quality of the Limited Partnersin the Fund: SSE, HBOS, Sir Tom Hunter and Vincent Tchenguiz. We expectopportunities to arise for the benefit of all Sigma shareholders by working withthese partners and investors and the networks they bring to us across all ourbusiness sectors, renewable energy, University IP and property. We view the restof the year with confidence. Notes (1) Investment via subsidiary SSE Venture Capital Limited (2) Investment via subsidiary Uberior Oil & Gas Limited (3) Investment via subsidiary TBH Investments Limited ENDS ContactSigma Capital Group plcGraham Barnet, Chief Executive Officer +44 131 220 9444 Buchanan CommunicationsDiane Stewart/Isabel Podda +44 207 466 5000 Arbuthnot SecuritiesTom Griffiths/Neil Kirton +44 207 012 2000 NOTES TO EDITORS About Sigma Capital Group plc Sigma Capital Group plc is an AIM-listed UK asset management group. Sigma'sbusiness divisions focus on Specialist Fund Management in particular in thesustainable energy sector, Commercialisation of University IP and Property. www.sigmacapital.co.uk About Consensus Business Group The Consensus Business Group provides advisory services on numerous assets,investments and business opportunities to the trustees of a family trust whichis its ultimate beneficial owner. Consensus covers all aspects of advice from the identification of strategicareas of business; the acquisition, financing (including structured and complexfinancing) and development of specific opportunities; long term businessdevelopment and growth; management techniques and incentivisation; and throughto the realization of benefits for all stakeholders. Consensus Business Group recommend investment opportunities in a broad range ofsynergistic activities. The core business includes the acquisition, managementand development of commercial and residential real estate and a substantialinvestment portfolio focused on new technologies and technology start-ups.Consensus also actively recommends investments in renewable energy andsustainable development. More information is available at www.consensusbusiness.com. This information is provided by RNS The company news service from the London Stock Exchange