MXC Capital Limited Investment into Joint Venture with Liberty Global (8156X)
02 Maggio 2019 - 8:00AM
UK Regulatory
TIDMMXCP
RNS Number : 8156X
MXC Capital Limited
02 May 2019
The information contained within this announcement is deemed by
the Company to constitute inside information stipulated under the
Market Abuse Regulation (EU) No. 596/2014. Upon the publication of
this announcement via the Regulatory Information Service, this
inside information is now considered to be in the public
domain.
MXC Capital Limited
("MXC" or the "Company")
Investment into Joint Venture with Liberty Global
MXC (AIM: MXCP), the technology focused adviser and investor, is
pleased to announce that it has made a further investment (the
"Investment") into MXLG Acquisitions Limited ("MXLG"), its joint
venture with Liberty Global Europe 2 Limited ("LGE2") (a wholly
owned subsidiary of Liberty Global plc).
The Investment has enabled MXLG to complete the acquisitions of
Koris Communications Group Limited ("Koris") and 365 ITMS Limited
("365") which represent the second and third acquisitions in MXLG's
stated strategy of building an IT services business of scale
targeting the UK SME market ("the Acquisitions").
Koris is a managed communications provider offering on-premise,
hybrid, private cloud and cloud solutions with a specialist focus
on Mitel telephony and Skype for Business solutions.
365 is an IT services company providing networking, unified
communications and IT security services.
MXLG has financed the Acquisitions with funds from a senior debt
facility with The Royal Bank of Scotland and equity injections from
its shareholders.
MXC, together with a co-investor, have each made an equity
investment of GBP1.225 million into MXC JV Limited ("MXCJV") to
part fund the Acquisitions.
Following the Investment, MXC continues to hold 100% of the
voting rights of MXCJV and continues to own 50% of its issued share
capital. MXCJV holds 50% of the issued share capital of MXLG with
LGE2 owning the remaining 50%.
MXC Capital Limited
Ian Smith
+44 (0) 20 7965 8149
Zeus Capital Limited (Nominated adviser and broker)
Nick Cowles, Dan Bate
+44 (0) 161 831 1512
About MXC Capital Limited www.mxccapital.com
MXC is a specialist technology adviser and investor with a track
record of investing in and advising companies in the TMT sector.
MXC brings 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 combine to grow shareholder
value.
About Liberty Global plc www.libertyglobal.com
Liberty Global plc is the world's largest international TV and
broadband company, with operations in 12 European countries under
the consumer brands Virgin Media, Unitymedia, Telenet and UPC. We
invest in the infrastructure and digital platforms that empower our
customers to make the most of the video, internet and
communications revolution. Our substantial scale and commitment to
innovation enable us to develop market-leading products delivered
through next-generation networks that connect 21 million customers
subscribing to 45 million TV, broadband internet and telephony
services. We also serve over 6 million mobile subscribers and offer
WiFi service through 12 million access points across our
footprint.
In addition, Liberty Global owns 50% of VodafoneZiggo, a joint
venture in the Netherlands with 4 million customers subscribing to
10 million fixed-line and 5 million mobile services, as well as
significant content investments in ITV, All3Media, LionsGate, the
Formula E racing series and several regional sports networks.
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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