Macaulay Capital PLC - Transfer of unquoted investment portfolio

Macaulay Capital PLC

13 March 2023

Macaulay Capital PLC

("Macaulay Capital" or the "Company")

Transfer of unquoted investment portfolio

Macaulay Capital PLC (AQSE:MCAP), which was formed to originate and manage corporate transactions, raise funds from third parties, invest its own funds alongside those of external investors and to manage its investment portfolio with the aim of maximising its value, announces that it has taken over the management of the unquoted investment portfolio of Chelverton Asset Management Limited ("CAM").

As set out in the admission document published in connection with the Company's admission to trading on the AQSE Growth Market in July 2022, the Company and its subsidiary, Macaulay Management Limited ("MML", together "the Group"), agreed to take over the management of the unquoted investment portfolio of five private companies from Chelverton Asset Management Limited ("CAM"). Under the agreements with the relevant companies, the Group is responsible for monitoring their performance, which usually includes a board position, for which it is entitled to monthly management fees and a potential performance fee on exit.

David Horner is a director and significant shareholder of CAM, which is therefore a related party of the Company. Accordingly, the transfer is deemed to be a related party transaction under the AQSE Rules.  The directors of the Company (other than David Horner), having exercised reasonable care, skill and diligence, believe that the transfer of these agreements from CAM to the Group is fair and reasonable as far as the shareholders of the Company are concerned.

The Directors of the Company accept responsibility for the contents of this announcement.

ENDS

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For more information please visit: www.macaulaycapital.com