Source - RNS
RNS Number : 3446K
MXC Capital Limited
10 April 2018
 

 

MXC Capital Limited

("MXC")

 

Sale of Castleton Shares

 

MXC Capital Limited (AIM: MXCP) announces that on 9 April 2018 it sold 660,000 ordinary shares of 2 pence each in the capital of Castleton Technology plc ("Castleton") ("Castleton Shares"), at a price of 75.848 pence per Castleton Share (the "Sale Price") (the "Sale").

Following the Sale, MXC holds 19,361,211 Castleton Shares, representing 24.5% of its issued share capital.

Valuing MXC's pre-Sale holding of 20,021,211 Castleton Shares at the Sale Price and taking into account the proceeds of £1.66 million from the recent option exercise as announced on 21 February 2018, this would represent a 3.0x return for MXC on its cost of investment in Castleton.

Castleton Technology plc ("Castleton") is a leading supplier of complementary software and managed services to the public and not-for-profit sectors listed on the AIM market of the London Stock Exchange. Further details about Castleton (including latest financial reports) are available at www.castletonplc.com.

The proceeds of the Sale will be used in line with MXC's stated strategy of investing in technology companies.

 

MXC Capital Limited

Ian Smith

+44(0)20 7965 8149

Zeus Capital Limited (Nominated adviser and broker)

Giles Balleny

+44 (0)20 3829 500

 

About MXC Capital (www.mxccapital.com)

MXC is a specialist adviser and investor with a track record of investing in and advising companies in the TMT sector. We bring together a deep knowledge of technology, first-hand experience of managing companies in the sector, an ability to make meaningful investments and a highly experienced corporate advisory team in support, all of which we combine to grow shareholder value.

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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