25 March 2024
Peel Hunt
Limited
("Peel Hunt" or the
"Company")
Fundraise by RetailBook and
related party transaction
Peel Hunt is pleased to announce that
RetailBook, the technology led platform designed to provide access
for issuers to retail capital in the UK, has raised £2.5 million
(the "Fundraise").
The proceeds from the Fundraise will
be used to fund the next stage of RetailBook's growth and to
provide the regulatory capital required for FCA authorisation,
which we expect to receive shortly. It is anticipated that
RetailBook will begin to operate independently of the Peel Hunt
group in the coming months.
The Fundraise was completed by way of
an issue of new ordinary shares in the capital of RetailBook
Holdings Limited to strategic investors, including certain existing
collaboration partners, as well as to individual investors. Steven
Fine, CEO of the Company, Darren Carter, Non-Executive Director of
the Company, and Aaqib Mirza, CEO of RetailBook (together the "Peel
Hunt Related Parties") have invested £100,000, £772,000 and £75,000
respectively. Peel Hunt has participated in the Fundraise and will,
subject to completion, hold a significant minority position in
RetailBook. Peel Hunt and the Peel Hunt Related Parties are
participating on the same terms as all other investors.
The participation of each of the Peel
Hunt Related Parties in the Fundraise constitutes a related party
transaction for the purposes of Rule 13 of the AIM Rules for
Companies. The Independent Directors, being those directors of Peel
Hunt who are not participating in the Fundraise consider, having
consulted with Grant Thornton UK LLP, the Company's nominated
adviser, that the terms of the Peel Hunt Related Parties'
participation in the Fundraise are fair and reasonable insofar as
the Company's shareholders are concerned.
For further information, please
contact:
Peel Hunt:
via Powerscourt
Steven Fine, CEO
Sunil Dhall, CFOO
Powerscourt (Financial
PR): +44 (0)20 7250 1446
Justin Griffiths
Gilly Lock
Russ Lynch
peelhunt@powerscourt-group.com
Grant Thornton UK LLP (Nominated
Adviser): +44 (0)20 7728 2942
Philip Secrett
Colin Aaronson
Enzo Aliaj
Keefe, Bruyette & Woods
(Corporate Broker): +44 (0) 20 7710
7600
Alistair McKay
Alberto Moreno Blasco
Fred Walsh
Akshman Ori
Notes to editors
Peel Hunt is a leading UK investment
bank that specialises in supporting mid-cap and growth companies.
It provides integrated investment banking advice and services to UK
corporates, including equity capital markets, private capital
markets, M&A, debt advisory, investor relations and corporate
broking. The company's joined up approach combines these services
with expert research and distribution and an execution services hub
that provides liquidity to the UK capital markets, delivering value
to global institutions and trading counterparties alike. The
company is admitted to trading on AIM (LON: PEEL) and has offices
in London, New York and Copenhagen.