CIP Cip Merchant Capital Limited

TIDMCIP

RNS Number : 0995D

CIP Merchant Capital Ltd

24 June 2019

24 June 2019

CIP MERCHANT CAPITAL LIMITED

("CIP Merchant Capital" or the "Company")

Syndication of minority stake of 7Star investment

CIP Merchant Capital is pleased to announce that, further to its announcement of 7 December 2018 regarding its investment in 7Star S.r.l. ("7Star"), a private Italian veterinary clinics chain, that it has now successful syndicated a minority stake of its aggregated investment in 7Star to certain investors ("Syndication").

Pursuant to the Syndication, the Company's investment in 7Star will be reduced by EUR1.70 million from, in aggregate, EUR6.11 million to EUR4.41 million. The resulting interest will be split EUR1.88 million as equity and EUR2.53 million as an interest free loan. Following the Syndication, the Company's economic interest in 7Star will therefore reduce from 49 per cent. to 35.4 per cent., though the Company will retain control of the voting rights over the shares transferred pursuant to the Syndication.

[Depending on the class tests further info on 7Star, including its financial results for 31 Dec 18, may need to be included.]

For further information, please contact:

 
Merchant Capital Manager Limited (Investment Manager) 
 Marco Fumagalli                                        +41 91 225 25 
 Carlo Sgarbi                                            60 
Strand Hanson Limited (Financial & Nominated Adviser 
 and Broker) 
 Richard Tulloch / James Bellman                        +44 20 7409 3494 
 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014.

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.

END

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