link

Northern Monks new Brethren

New partners activate new investment with a 74% increase in valuation

- updated at June 10, 2019, 4:10 p.m.

Details of investment and offer to shareholders

Posted by Relte on May 3, 2019 |

In early May, Northern Monk announced an investment by Active Partners (Honest Burgers, Finisterre, Rapha, Leon and Secret Cinema).

Paraphrased details below;

Offer from Active Partners (from distributed investor document):

The investment from Active amounts to £5,000,000 initially. The valuation being placed on the business is at a price per share of £0.871, which represents a 74% increase (£0.371 per share)

compared to the investment price at the time of the Crowdcube investment in 2018. The Active

investment comprises two parts:

  • First, a subscription for new A ordinary shares for a total aggregate subscription price of £2,500,000.
  • Second, an offer to all other shareholders to buy a portion of their shares.

EIS relief has not been affected.

The Offer to the Crowdcube Shareholders us to acquire 370,686 shares equals 12.5% of all of the shares held by the Crowdcube

regardless of whether they hold A Shares or B Shares, is being.

The price being offered per share (whether A Shares or B Shares) is £0.871, which is the same price as that which was paid during the initial Investment.

NB - If you want to sell up to 12.5% of your shares - your "Form of Acceptance" must not

arrive later than 5.30 pm on Monday 17th June 2019.