SGM.L Regulatory News (SGM)

14 Jun 2007 14:25

Sigma Capital Group PLC14 June 2007 For Immediate Release 14 June 2006 SIGMA CAPITAL GROUP PLC ("Sigma" or the "Company") First Closing of Sigma Sustainable Energy Fund II at £35 Million and Board Appointment Sigma Capital Group plc (AIM:SGM), the specialist asset management and advisorygroup, is pleased to announce:- The first closing of a new private equity fund the Sigma Sustainable Energy FundII (the "Fund"), at £35 million; and The appointment of David Sigsworth to the board as a non-executive director. Sigma Sustainable Energy Fund II Sigma is pleased to announce the first closing of the Sigma Sustainable EnergyFund II at £35 million with limited partner contributions from chosen strategicpartners Scottish and Southern Energy plc ("SSE")(1) (£10 million), Bank ofScotland Corporate(2) (£12.5 million), West Coast Capital(3)(£10 million) andSigma Technology Investments Limited (£2.5 million). Sigma Technology ManagementLimited will act as manager of the Fund. In addition to its capital commitment to the Fund, SSE will support the Fund bycommitting resource and expertise, which extends the excellent workingrelationship developed with Sigma through their collaboration on Sigma's firstenergy fund the Sigma Sustainable Energies Fund. The Fund is Sigma's fourth fund and second sustainable energy fund and has beenestablished for investment in sustainable energy technologies throughout the UKand Europe. The Fund will remain open to further investors for a period of oneyear and Sigma is confident of attracting additional investors during thatperiod. David Sigsworth Sigma is also pleased to advise of the appointment of David Sigsworth to theBoard as a non-executive director. David's appointment will be effectivefollowing Sigma's AGM on 19 June 2007. David has also been appointed as Chairmanof the Sigma Sustainable Energy Fund II. David spent over ten years as a mainboard director of FTSE 100 utility companies and most recently on the board ofSSE. David is actively involved in the sustainable energy sector and holdsseveral associated non-executive directorships. Commenting on today's announcement, Graham Barnet, Chief Executive of Sigma said "I am delighted that SSE, Bank of Scotland Corporate and West Coast Capital, whoare all strongly committed to the sustainable energy sector, have backed Sigmain the launch of this fund. This is a significant move for Sigma in the growthof its asset management business and the expansion of its activities in thesustainable energy sector. We are looking forward to working with all ourpartners on this unique collaboration, bringing together industry, banking andcommercial expertise. I am also very pleased to welcome David to the board ofSigma and look forward to his contribution and to benefiting from his wealth ofexperience both in business and in the sector." Ian Marchant, Chief Executive of SSE, said "I am pleased that our well-established relationship with Sigma has enabled usto create this new fund. I believe it will help to deliver more sustainablemeans of producing and using energy. With the participation of Bank of ScotlandCorporate and West Coast Capital, it also demonstrates the breadth and depth ofthe interest which now exists in sustainable energy technologies." Commenting upon the deal, Ed Wilson, Head of Energy & Environmental at Bank ofScotland Corporate said "This is an excellent opportunity for Bank of Scotland to make an equityinvestment in a high-profile renewable sector fund which has the potential tobecome one of the leading renewable funds in the UK. We're delighted to befurther enhancing our strong relationship with Sir Tom Hunter and to be workingalongside Scottish & Southern Energy, one of the UK's leading players in thedeveloping sustainable energy sector. "Our investment in this fund further demonstrates Bank of Scotland's commitmentto invest in the renewable energy markets, and to help promote Scotland'sposition as a leading light in the development of renewable energy industries." Paul Davidson, partner in West Coast Capital noted; "We see renewables as a growing component of our investment strategy movingforward. Scottish & Southern introduced us to the Sigma opportunity and we aredelighted to be co-investing with them alongside Bank of Scotland Corporate andSigma. The combined expertise of Sigma and SSE gave us the confidence toinvest." 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 Scottish and Southern Energy plcSharron Miller-McKenzie, Press Office 0845 0760 530Manager West Coast CapitalEwan Hunter +44 7803 904769 Bank of Scotland CorporateHarry Hussain +44 131 243 7198 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 Scottish and Southern Energy plc Perth-based Scottish and Southern Energy is involved in the generation,transmission, distribution and supply of electricity and in the storage,distribution and supply of gas. It is one of the largest generators ofelectricity in the UK and is the leading generator from renewable sources andalso supplies electricity and gas to around eight million customers throughoutGreat Britain. Its Chief Executive, Ian Marchant, chairs the UK Business Councilfor Sustainable Energy and the Climate Change Business Delivery Group. Bank of Scotland Corporate Bank of Scotland Corporate, part of HBOS plc, has a reputation for excellence inthe provision of corporate finance, delivering innovative funding solutionsacross a range of markets. With experience across many areas of corporatefinance, including specialist teams covering Joint Ventures, Integrated Finance,Structured Property Finance, Infrastructure Finance and Housing Finance, Bank ofScotland can draw on an expert pool of professionals with proven track records.Bank of Scotland provides funding to more Management Buy-Outs than any otherbank in both the UK and Europe and is now recognised as the top UK arranger forPFI/PPP deals. Bank of Scotland Corporate employs around 9,000 employees. Totallending at December 2006 stood at £85.3 billion. West Coast Capital West Coast Capital is a private equity partnership established in February 2001 and owned and funded by retail entrepreneur Sir Tom Hunter and corporate advisers Jim McMahon and Paul Davidson. West Coast Capital is a partnership established in Scotland which invests mainly in the retail and property sectors, often co-investing with other major investors and institutions. West Coast Capital recently cornerstoned, alongside Baugur, a major not-for-profit carbon offsetting scheme in Rwanda and Malawi alongside former President Clinton. To find out more visit www.westcoastcapital.co.uk This information is provided by RNS The company news service from the London Stock Exchange