11 May 2023
Marechale Capital
plc
(“Marechale” or the “Company”)
Investment
Update
The Directors of Marechale Capital plc (AIM: MAC) are
pleased to note the announcements by Burgh Island Hotel (“Burgh
Island”) and Weardale Lithium Limited (“Weardale”), companies in
which it holds investments.
In 2018, Marechale acted as adviser on the acquisition of Burgh
Island. The Company notes that, on 10
May 2023, Burgh Island announced its proposed sale. In the
event that its sale concludes, the Directors of Marechale
anticipate there will likely be an opportunity to realise its
investment. Marechale holds an interest in 4.9 per cent. of
the equity of Burgh Island and the quantum of any realisation will
depend on the completion terms of the sale. The Company will
provide a further update to the market in the event of the
completion of the sale.
Further, the Company also notes the announcement by Weardale on
11 May 2023 advising that Weardale, a
lithium exploration and development business based in the Weardale
Valley, County Durham in the north
of England, has successfully
extracted lithium carbonate from geothermal brines and that these
positive tests results are amenable for lithium production.
Weardale further states that it now intends to accelerate and
scale-up of its testing of increased volumes of lithium carbonate
towards demonstrating commercial scale production. The Directors of
Marechale are pleased to note the positive developments at
Weardale, a company in which it holds an 8.5 per cent.
interest.
When the Company’s half-yearly results were reported on the
2 December 2022, the Company’s
balance sheet showed net assets of approximately £3.48 million,
representing approximately 3.6 pence
of value per share in issue.
For further information please
contact:
Marechale Capital plc
Mark Warde-Norbury / Patrick Booth-Clibborn |
Tel: +44 (0)20 7628
5582 |
Cairn Financial Advisers LLP (Nomad)
Jo Turner / Sandy Jamieson |
Tel: +44 (0)20 7213
0880 |
BlytheRay (Financial PR)
Tim Blythe / Megan Ray |
Tel: + 44 (0)78 7574
4070
marechalecapital@blytheray.com |
About Marechale Capital
Marechale is an established City of
London based corporate finance house, with a long-term track
record and a strong reputation in advising & financing high
growth consumer brands, leisure, clean energy, and technology
companies. The Company uses its balance sheet to co-invest in its
client companies, along with warrants and founder equity, in order
to create shareholder value.
Cautionary statement
Certain statements made in this announcement are forward-looking
statements. Such statements are based on current expectations and
assumptions and are subject to a number of risks and uncertainties
that could cause actual events or results to differ materially from
any expected future events or results expressed or implied in these
forward-looking statements. Persons receiving this announcement
should not place undue reliance on forward-looking statements.
Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or
revise any forward-looking statements, whether as a result of new
information, future developments or otherwise.