Macaulay Capital Plc

Related Party Transaction • Jul 26, 2024

National Storage Mechanism | Additional information

RNS Number : 9072X

Macaulay Capital PLC

26 July 2024

26 July 2024  

Macaulay Capital PLC

("Macaulay Capital" or the "Company")

Extension of warrant exercise date and Director loan

Macaulay Capital PLC (AQSE:MCAP), which was formed to originate and manage corporate transactions, raise funds from third parties, invest its own funds alongside those of external investors and to manage its investment portfolio with the aim of maximising its value, announces the extension of the exercise date for certain warrants and also a loan to be made to the Company by its Managing Director, David Horner.

As set out in the Company's AQSE admission document dated 25 July 2022, Harry and Tom Horner (the adult sons of David Horner) each hold 3,000,000 warrants ("Unconditional Founder Warrants") that were required to be exercised at a subscription price of £0.25 per share by the date two years from the Company's admission to trading on AQSE (29 July 2024). The Company has agreed to extend the date by which the Unconditional Founder Warrants must be exercised to 31 December 2024 ("Warrant Extension").

In addition, David Horner has agreed to lend the Company £500,000 (the "Loan") for working capital and other purposes.  The Loan is unsecured and ranks alongside the Company's ordinary shares, is interest free and is repayable on or before 31 December 2024 from the proceeds of the exercise of the Unconditional Founder Warrants.

As David Horner is a director of the Company and Harry and Tom Horner are both substantial shareholders, the Warrant Extension and the Loan are deemed to be related party transactions under the AQSE Rules.  The Company's other directors, Lindsay Mair and Richard Bucknell, having exercised reasonable care, skill and diligence, believe that the Warrant Extension and the Loan are fair and reasonable as far as the shareholders of the Company are concerned.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

ENDS 

Enquiries:

Macaulay Capital PLC
Clive Milner	+44 (0)20 3946 5980
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Louise O'Driscoll	+44 (0)20 7213 0880
Oberon Capital (Broker)
Chris Crawford	+44 (0)20 3179 5304

For more information please visit:   www.macaulaycapital.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

NEXRAMATMTITBLI