Majestic Secures £1 Million Annual EIS Approval
4 September 2024
Majestic Corporation Plc
(the "Company" or "Majestic")
Majestic Secures £1 Million Annual EIS Approval
Majestic Corporation Plc ("AQSE:MCJ"), a sustainable circular economy solutions provider specialising in recycling precious and non-ferrous metals, is pleased to announce that His Majesty's Revenue and Customs ("HMRC") has granted the Enterprise Investment Scheme ("EIS") status for investments made by certain qualifying individuals.
The EIS is a UK government initiative that encourages investment in qualifying companies by offering tax benefits for qualifying investors who subscribe for new shares. For the avoidance of doubt, EIS income tax relief is not available for directors or employees of Majestic.
The Directors of Majestic also believe that an investment in the Company would potentially constitute a 'qualifying holding' for a Venture Capital Trust ("VCT") subject to certain conditions being met. A company can receive a maximum of £5 million from EIS and VCT investors on a 12-month rolling basis. The grant of EIS status broadens the Company's potential investor base as it continues to develop and grow.
-Ends-
For further information, please visit www.majestic-corp.com, or contact:
|
Majestic Corporation Plc Peter Lai (Chairman and CEO) Joe Lee (CFO) |
E: peter@majestic-corp.com
E: joe@majestic-corp.com |
|
Guild Financial Advisory Limited - Corporate Adviser Ross Andrews Evangeline Klaassen |
T: +44 (0)7973 839767 E: ross.andrews@guildfin.co.uk
T: +44 (0)7972 841276 E: evangeline.klaassen@guildfin.co.uk |
|
Redchurch Communications - Financial PR & IR John Casey / Nicky Bagheri |
T: +44 (0) 207 870 3974 E: mcj@weareredchurch.com |
About Majestic Corporation PLC
Majestic Corporation PLC is an emerging leader in sustainable circular economy solutions, specialising in recycling and recovering precious and base metals from everyday materials such as electronics, catalytic converters, and solar and battery materials. The company serves some of the world's largest brands, including Original Equipment Manufacturers (OEMs), blue-chip multinational corporations, financial and leasing businesses, and state and federal governments.
Through its subsidiaries and affiliate companies in strategically located regions, including the United Kingdom, the United States, Malaysia, Australia, and Italy, Majestic procures, processes, and ships e-waste to smelter and refinery partners who extract precious and base metals for re-entry into global supply chains.
Majestic's areas of focus include catalytic converters, printed circuit boards, solar panels, battery materials, precious metals recovery, and non-ferrous metals.
As Majestic continues to expand its footprint as a circular economy solutions provider, it remains committed to making a positive environmental impact, adhering to ESG values, and driving its business model through immediate and short-cycle cash flow, which strengthens the Company's performance and sustainability.
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