Independent corporate finance and investment advisory firm, specialising in smaller quoted and larger unquoted companies
30 August 2005
AIM-quoted Merchant House Group Plc has raised over £900,000 for working and investment capital following a series of successful deals to boost the growth of its subsidiary, Merchant Capital, as a corporate finance boutique.
The fund-raising was completed through the issue of £860,000 of loan notes convertible at 2p per share and the £41,260 placing of new shares at 2p per share.
Merchant House Chairman Peter Redmond said: “This will enable us to strengthen the corporate team and broaden our range of services for corporate clients. We shall also continue seeking complementary investment opportunities.”
Merchant House has in recent months completed several transactions in line with its strategy of fund-raising backed by continuing advice for corporate clients while at the same time taking a stake in their future. The group believes this stake-holding policy assures it provides close attention and helps maintain long-term relationships.
The biocide coatings group Byotrol Plc last month arrived on AIM raising £3 million after Merchant House helped formulate its funding strategy and placed its shares with a mix of institutional and private investors. Merchant House holds Byotrol warrants at the 23p issue price, worth £125,000 now the shares are trading at 35p.
Byotrol director Stephen Falder said at the time: “We are extremely pleased at the successful outcome of our fund-raising, and particularly delighted with the Merchant House team, whose expertise has been of the highest standard from the start.”
Merchant House also raised £800,000 for the AIM-quoted large-format film group Bella Media Plc, and assisted and participated in a £1.4 million fund raising for AIMquoted mining investment company, Weatherly International Plc, where it acquired shares that have since increased in value by 166%. It is currently advising Cellcast plc ahead of a planned AIM IPO.
For further information contact:
Peter Redmond, Chairman, Merchant House Group Plc: 020 7332 2200
Allan Piper, First City Financial Public Relations: 020 7436 7486, 07736 064 982
Merchant Capital Limited
Aldermary House
10-15 Queen Street
London EC4N 1TX
United Kingdom
Tel: +44 (0)20 7332 2200