Greencare Capital - Result of General Meeting

Greencare Capital PLC

("Greencare" or the "Company")

Result of General Meeting

Greencare Capital plc (AQSE: GRE) announces that, at a General Meeting of the Company held earlier today in London, both Special Resolutions put to shareholders, to change the Company's name and to change its investing strategy, were duly passed. 

Accordingly, the Company will make an application to Companies House to change its name and it will update the market further when this process has been completed.

As a result of the passing of the resolution to change the Company's investing strategy, the Company will implement a growth incubator and pre-IPO investment philosophy as its investment strategy, whereby it will seek out early stage or undervalued later stage businesses with strong upside potential, with the objective of acquiring, funding, growing and selling-on the investments through the public markets at enhanced valuations.  The Company's underlying investment driver will be technology driven businesses based on their potential future value enhancement and investment returns.

The Company looks forward to updating the market further shortly.

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Notes:

Change of Investing Strategy

The Board of Greencare firmly believes that, as a result of the current challenging global economic and geopolitical landscape, opportunities now exist to invest in or acquire distressed or out of favour assets which have become undervalued, or, assets which may benefit from consolidation. The Company's underlying investment driver will be technology driven businesses based on their potential future value enhancement and investment returns. The Board has identified four sectors of initial focus, and will likely in future target other technology driven sectors.  These initial sectors include Life Sciences, Crypto businesses and assets that use crypto technology, Impact Investing (Environmental and Renewables) and Retail.

It is the Board's intention, following shareholder approval, to implement a growth incubator and pre-IPO investment philosophy as its investment strategy, whereby it will seek out early stage or undervalued later stage businesses with strong upside potential, with the objective of acquiring, funding, growing and selling-on the investments through the public markets at enhanced valuations.

The board will not restrict the jurisdiction of investments since the application of technology is not constrained by geographic borders, however, the Board would expect that it will consider more investments in Europe.

Structure of Investments

Following the passing of the Resolutions, the Company anticipates that investments will be made from the Company's own balance sheet and/or in partnership with other investing entities and will be expected to be in the form of equity and equity-related instruments, including convertible debt instruments, and, debt. The Company may offer its ordinary shares and debt instruments in exchange for shares in investee businesses.

The Company may invest in quoted or listed companies, that are publicly traded, and private companies.  It may acquire investments directly or by way of holdings in intermediate holding or subsidiary entities. The Company may also invest in limited liability partnerships and other forms of legal entity.

The Company may invest in majority or minority positions and will ensure that it has suitable investor protection rights, as determined by the Board.

The Company may, where appropriate and deemed by the Directors to be in the Company's best interests, seek a position on the boards of investee companies to actively monitor and assist the business including helping to scale senior management, inform and refine strategy, drive key performance indicators and provide guidance on future financing. 

The Company intends to realise value through exiting the investments over time and will have no fixed investment period.