TIDMOCI
RNS Number : 7196C
Oakley Capital Investments Limited
13 October 2022
13 October 2022
Oakley Capital Investments Limited
Oakley Capital Investments Limited(1) ("OCI" or "the Company")
is pleased to announce that Oakley Capital Fund IV(2) ("Fund IV")
has reached an agreement to sell part of its stake in Wishcard, one
of Europe's fastest growing gifts and rewards platforms. Fund IV
will retain a residual shareholding in the business.
OCI's look through share of proceeds will be c.GBP45 million.
The agreed exit valuation, a c.37% premium to the book value at 31
March 2022, was largely reflected in the Company's H1 NAV to 30
June 2022.
Note that the above figure only relates to OCI's share of
proceeds from Fund IV's partial sale of Wishcard.
Further details on the transaction can be found in the below
announcement from Oakley Capital(3) .
Oakley Capital agrees partial exit from Wishcard
Oakley Capital ("Oakley") is pleased to announce that Oakley
Capital Fund IV ("Fund IV") has reached an agreement to sell part
of its stake in Wishcard to private equity investors EMZ Partners
and IK Partners. As part of the transaction, Fund IV will retain a
residual shareholding in the business.
Wishcard is a consumer technology company and one of Europe's
fastest growing gifts and rewards platforms selling over ten
million multi-brand gift cards a year. Fund IV acquired a majority
stake in the business in August 2019, partnering with the original
founders to create a sustainable platform and continue the
company's strong growth and leadership in product innovation.
Oakley helped build the required processes and
professionalisation needed to sustain strong growth and supported
the successful expansion into B2B and ecommerce distribution
channels. Under Oakley's ownership, Wishcard has more than
quadrupled revenues in under three years as the company benefited
from its market-leading combination of 500 redemption partners,
more than 110,000 points of sale and an effective multi-channel
distribution network.
- ends -
For further information please contact:
Oakley Capital Limited
+44 20 7766 6900
Steven Tredget
Greenbrook Communications Limited
+44 20 7952 2000
Rob White / Michael Russell
Liberum Capital Limited (Financial Adviser & Broker)
+44 20 3100 2000
Chris Clarke / Darren Vickers / Owen Matthews
Notes:
LEI Number: 213800KW6MZUK12CQ815
(1) About Oakley Capital Investments Limited ("OCI")
OCI is a Specialist Fund Segment ("SFS") traded investment
vehicle that aims to provide shareholders with consistent long-term
capital growth in excess of the FTSE All-Share Index by providing
liquid access to private equity returns through investment in the
Oakley Funds.
A video introduction to OCI is available at
https://oakleycapitalinvestments.com/videos/
The contents of the OCI website are not incorporated into, and
do not form part of, this announcement.
(2) The Oakley Funds
Oakley Capital Private Equity L.P. and its successor funds,
Oakley Capital Private Equity II, Oakley Capital Private Equity
III, Oakley Capital IV, Oakley Capital V and Oakley Capital Origin
Fund are unlisted lower-mid to mid-market private equity funds that
aim to provide investors with significant long-term capital
appreciation. The investment strategy of the Funds is to focus on
buy-out opportunities in industries with the potential for growth,
consolidation and performance improvement.
(3) Oakley Capital, the Investment Adviser
Founded in 2002, Oakley Capital Limited has demonstrated the
repeated ability to source attractive growth assets at attractive
prices. To do this it relies on its sector and regional expertise,
its ability to tackle transaction complexity and its deal
generating entrepreneur network.
Important information
Specialist Fund Segment securities are not admitted to the
Official List of the Financial Conduct Authority. Therefore, the
Company has not been required to satisfy the eligibility criteria
for admission to listing on the Official List and is not required
to comply with the Financial Conduct Authority's Listing Rules.
The Specialist Fund Segment is intended for institutional,
professional, professionally advised and knowledgeable investors
who understand, or who have been advised of, the potential risk
from investing in companies admitted to the Specialist Fund
Segment.
This announcement may include "forward-looking statements".
These forward-looking statements are statements regarding the
Company's objectives, intentions, beliefs or current expectations
with respect to, amongst other things, the Company's financial
position, business strategy, results of operations, liquidity,
prospects and growth. Forward-looking statements are subject to
risks and uncertainties because they relate to events and depend on
circumstances that may or may not occur in the future. Accordingly
the Company's actual future financial results, operational
performance and achievements may differ materially from those
expressed in, or implied by, the statements. Given these
uncertainties, prospective investors are cautioned not to place any
undue reliance on such forward-looking statements, which speak only
as at the date of this announcement. The Company expressly
disclaims any obligation or undertaking to update or revise any
forward-looking statements contained herein to reflect actual
results or any change in the Company's expectations with regard to
them or any change in events, conditions or circumstances on which
any such statements are based unless required to do so by the
Financial Services and Markets Act 2000, the Listing Rules or
Prospectus Regulation Rules of the Financial Conduct Authority or
other applicable laws, regulations or rules.
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END
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October 13, 2022 02:00 ET (06:00 GMT)
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