Draper Esprit PLC Voluntary withdrawal of EuVECA designation (6891J)
December 23 2020 - 5:03AM
UK Regulatory
TIDMGROW
RNS Number : 6891J
Draper Esprit PLC
23 December 2020
DRAPER ESPRIT PLC
("Draper Esprit" or the "Company")
Voluntary withdrawal of EuVECA designation of Esprit Capital
Partners LLP
Draper Esprit PLC (AIM: GROW, ESM: GRW), a leading venture
capital firm investing in and developing high growth digital
technology businesses, announces that, Esprit Capital Partners LLP
("ECP"), the Company's Alternative Investment Fund Manager ("AIFM")
notified the Financial Conduct Authority ("FCA") in November 2020
of its intention to relinquish the use of the EuVECA designation
under the European Venture Capital Funds Regulation (EU
345/2013).
ECP is a wholly owned subsidiary undertaking of the Company and
it is regulated by the FCA.
One of the principal advantages of the EuVECA Regulation is that
it offers an EU-wide marketing passport to certain managers of
venture capital funds. As a full-scope AIFM, ECP is able to avail
itself of the Alternative Investment Fund Managers Directive
marketing passport rights and therefore no longer needs to take
advantage of the EuVECA marketing regime.
The Company confirms that there has been no change to the
investment objective and/or investing policy and/or strategy of the
Company as a result of the Company relinquishing the use of the
EuVECA designation.
Pre-Investment Disclosures for the benefit of investors relating
to the Company as required by paragraph 3.2.2R of the FCA's
Investment Funds sourcebook continue to be available on the
Company's website at
https://draperesprit.com/investors/plc/results-and-reports .
Enquiries
Draper Esprit plc
Martin Davis (Chief Executive
Officer)
Ben Wilkinson (Chief Financial
Officer) +44 (0)20 7931 8800
Numis Securities
Nominated Adviser & Joint Broker
Simon Willis
Richard Thomas
Jamie Loughborough +44 (0)20 7260 1000
Goodbody Stockbrokers
Euronext Growth Adviser & Joint
Broker
Don Harrington
Charlotte Craigie
Dearbhla Gallagher +44 (0) 20 3841 6202
Powerscourt
Public relations
Elly Williamson +44 (0)7970 246 725 / +44 (0)7961
Donjeta Miftari 628 862
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END
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