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.