Agreement with Gruppo Bancario Mediterraneo

RNS Number : 7439C

Brainspark PLC

11 March 2011

 



11 March 2011

Brainspark plc

                                                              ("Brainspark" or "the Company")

Agreement with Gruppo Bancario Mediterraneo

Brainspark plc (AIM: BSP), a fast growing international investment company, announces that it has entered into an agreement with Gruppo Bancario Mediterraneo Holding SpA ("GBM Holding"), a Rome head-quartered bank, focused on the advisory arena. Under the provision of this agreement GBM Holding will coordinate a fund raising programme in Italy on behalf of Brainspark of up to EUR 10 million.

The proceeds will in part facilitate Brainspark exercising its existing options to underwrite 9.9 per cent. of the issued share capital of Banca Federiciana S.p.A., a banking entity controlled by GBM Holding, as announced by Brainspark on 25 November 2010. The cost of exercising the options will be approximately EUR 3 million.

Banca Federiciana is an Italian regional bank based in the Puglia region with a focus on the SME sector. At 31 December 2010, Banca Federiciana had financial assets of approximately EUR 57,3 million (approx. GBP 49 million).

GBM Holding has a paid up capital of EUR 35 million and is in the process of raising its capital to EUR 50 million.

Alfredo Villa, Chairman and CEO of Brainspark, commented, "We have chosen to invest into these two high quality regional banks as they consistently deliver solid performances and it is hoped that our relationship will allow us to utilise their placing power and equity capital to fund future investments."

Enzo Cardi, President of GBM Holding, commented,"The quality of our investors is key for the healthy growth of our organisation, and, we consider ourselves privileged to have such a dynamic partner, that has added an international dimension to our group."

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For further information please contact:

Brainspark plc                                                                                    [phone]

Alfredo Villa, Chairman and CEO

Arbuthnot Securities                                                                          [phone]

Antonio Bossi / Ed Groome

Leander PR                                                                                       [phone]

Christian Taylor-Wilkinson

About Brainspark Plc

Brainspark plc (AIM: BSP) is an AIM listed investment company pursuing a dynamic strategy to create a comprehensive portfolio of companies primarily encompassing the interactive media, leisure, entertainment and financial services sectors mainly in Italy but also other European countries. Its core investment is B'Parks & Leisure, the owner of a site in northern Italy with plans for the development of a large theme park. The company may be either a passive or active investor and Brainspark's investment rationale ranges from acquiring minority positions with strategic influence through to larger controlling positions.

About GBM Holding

Having obtained its holding bank license in October 2010, GBM Holding is a private bank holding company headquartered in Rome, active in the advisory arena, and offering mergers and acquisitions services, debt structuring, debt issuing, private banking, as well as corporate finance services. In the course of 2011 GBM Holding envisages the opening of additional commercial branches to facilitate the relationship with high net-worth individuals and corporate clients; the new branches will also further the reach on commercial opportunities by its controlled bank, Banca Federiciana.

 

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