Greenchip Investments PLC
30 October 2000
GREENCHIP INVESTMENTS PLC
Greenchip Investments Plc ('Greenchip' or 'the Company') announces that its
shares commenced trading today on the Alternative Investment Market ('AIM').
Introduction and History
The Company was incorporated in June 1996, to acquire Infantcare (UK) Limited
which remains a wholly owned subsidiary. Following this acquisition the
Ordinary Shares commenced trading on OFEX in November 1996.
The Company's existing primary business has involved securing rights to
exploit, normally within Europe, technologies which, typically, have been
developed by corporations based in North America and/or Asia Pacific. The
Company has had a particular focus on life science, environmental technology
and internet related technologies.
Greenchip's current business model involves seeking to secure an option, from
owners of intellectual property, over newly developed products, ideas and
technologies ('Products') in respect of the exclusive European rights to
exploit and commercialise those Products. The companies targeted by Greenchip
are typically already established in the USA, Canada, Australia, Asia and the
Pacific region and own the rights to the Products. Options typically have a
three-month duration and Greenchip does not intend to pay for the option. The
intention is to convert the option agreement into an exclusive license
Greenchip's principal source of license opportunities is through a referral
agreement with Oceanic Management, a North American-based investment and
technology ventures company, through which license opportunities are received.
Greenchip focuses on Products that have undergone development and are being,
or are about to be, commercially exploited. Greenchip seeks to avoid
partnering with start up companies and preferably targets companies already
quoted on an overseas stock exchange.
Typically the owner of the Products will grant an exclusive license to a
company ('the Licensee Company'), which initially is owned equally by
Greenchip and the licensor. Subsequently, as the European business is
developed and finance is raised the shareholdings of the two parties will
usually be diluted. It is intended that, where appropriate, shareholders in
Greenchip will have an opportunity to apply for any IPO offering for each
Greenchip's plan is, in due course, to realise all or part of its shareholding
in each Licensee Company.
Currently, Greenchip has established a portfolio of Licensee companies with
which it is working and in which it has invested to exploit the Products,
including the following:
Environmental Technology Division
Genesis Microbial Limited. It is intended that Genesis Microbial Limited will
have exclusive rights to exploit within Europe two bio-microbial products the
first of which digests fat and grease and is used primarily in the catering
trade to keep drains clear. The second product is anticipated to be used
mainly in pest control to prevent insect larvae from developing.
Life Science & Medicine Division
Perioplus Europe Limited. It is intended that Perioplus Europe Limited will
have exclusive rights to exploit within Europe an anti-bacterial chlorhexidine
mouthwash. The mouthwash, which does not have harmful additivies, is currently
in advanced laboratory testing with a major pharmaceutical and consumer
Infantcare (UK) Limited. Infantcare has exclusive European rights to develop
and exploit a patented and professionally endorsed electrically operated crib
called 'The Babysleeper' which oscillates and calms babies, thus promoting
Ecomextra plc. Ecomextra plc is an OFEX quoted provider of packaged e-commerce
solutions to SME's.
Word of Mail Limited - It is intended that Word of Mail Limited will hold a
license under which it may exploit a permission based multi-level viral
marketing software package within the UK.
Whats-online Limited - It is intended that Whats-online Limited will have a
license to exploit a web based aggregate affiliate marketing program within
the European Union.
Biztalk Limited - Biztalk is a business information portal for SME's. This US
website currently has over 100,000 registered members. It is intended that
Biztalk Limited will have an exclusive license to develop and exploit a
similar website in the European Union.
Global Leading Edge Technologies Europe Limited ('GLETE')- It is intended that
GLETE will have exclusive rights to develop and exploit, within Europe, a fax
product that incorporates technology from Hewlett Packard, Symantec and 3Com
that enables organisations to send long distance faxes via the internet and
benefit from the reduced telecommunications rates available using this medium.
In addition, Greenchip holds 19.1 % of the issued share capital of Great
Panther Inc. This company intends to secure license rights to technologies for
exploitation in Asia Pacific.
Reasons for Listing
The Directors believe that Admission will enhance the standing of the Company,
and will facilitate the expansion of the Company, by the acquisition of other
companies or intellectual property rights for the issue of new shares rather
Commenting on the Company's application for admission to AIM, Gavin Simonds,
Greenchip's Chairman said:
'Greenchip's admission to AIM is an important step in the Company's
development. Currently we are seeing rapid changes, including corporate
consolidation, within the markets in which we have an interest. Greenchip's
ability to participate in these exciting developments will, I believe, be
enhanced by its listing on AIM.'
Gavin Simonds 020 7518 9180
Malcolm Burne 020 7518 9180
Andrew Page 020 7518 9180
James Harrison 020 7448 4700
Bell Pottinger Financial
Kate Power 020 7427 7200
Directors and Senior Management
Gavin Simonds (45), non-executive chairman. Gavin Simonds was formerly
joint-managing director of InterContinental Hotels Group. He has over 12 years
investment banking experience as a former director of both Kleinwort Benson
and UBS Phillips & Drew. He is a non-executive director of London Clubs
International Plc. Gavin Simonds is a chartered accountant.
Alan Bentley (54), non-executive director. By profession a non-practising
commercial barrister, Mr Bentley has over the last 16 years specialised in the
funding and strategic management of small businesses, often via tax-efficient
structures. He is chairman and chief executive officer of Childcare
Corporation Plc and he is also non-executive chairman of Ecomextra Plc, which
is traded on OFEX.
Ian Burne (58), director. Ian Burne has 38 years business experience in
banking, engineering, company secretarial work, business finance, retailing
and company administration. Since 1977, he has held directorships in several
companies, both private and listed. For the last ten years, Ian has been
involved in the development of new products leading to technology
commercialisation. He has also been responsible for the Greenchip group's
financial and administrative functions.
Malcolm Burne (56), chief executive officer. Malcolm Burne commenced his
career as an equity analyst, later moving into financial journalism. He has
worked as a venture capitalist and has founded a number of public and private
companies, including Golden Prospect Plc an AIM listed company where he is
Andrew Page (42), corporate finance director, is a chartered accountant. He
spent six years with Kleinwort Benson's corporate finance department,
following which he became senior vice president, corporate finance, at
InterContinental Hotels Group. Prior to joining Greenchip, he was group
finance director at Hanover International PLC, a listed hospitality group.
Ian Wallis (38), investment director. Ian Wallis has previously held a number
of senior finance and business development roles, including corporate finance
executive at Blenheim Group PLC and managing director of Jackie Stewart's
family motor racing team. Most recently, he was vice president corporate
finance and business development for ResidenSea Limited, the $355 million
start-up and pioneer of resort living at sea. He is a chartered accountant.
Nathan Steinberg (46), Financial Controller. Nathan Steinberg is a chartered
accountant and a partner in the London based accountancy practise of Munslow
Messias. He qualified in 1978 and is also a director of Golden Prospect Plc
and Viking Internet Plc, which are listed on AIM. He provides his accountancy
services to the Company through his practise.