Proposed Admission to Trading on NEX
NOT FOR RELEASE, DISTRIBUTION, PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA, THE REPUBLIC OF IRELAND OR JAPAN OR ANY OTHER JURISDICTION WHERE TO DO SO MIGHT CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.
This announcement is an advertisement and not an admission document or a prospectus. This announcement is not and does not constitute or form part of, and should not be construed as, an offer of securities for subscription or sale in any jurisdiction nor a solicitation of any offer to buy or subscribe for, any securities in any jurisdiction, nor shall it or any part of it, or the fact of its distribution, form the basis of, or be relied on in connection with, any contract or commitment whatsoever. This announcement does not constitute a recommendation regarding any securities. Prospective investors should not subscribe for or purchase any securities referred to in this announcement except in compliance with applicable securities laws and regulation and on the basis of the information in the admission document ("Admission Document") published by the Company, and any supplement thereto, in connection with the proposed admission ("Admission") of its preference shares ("Preference Shares") to trading on the NEX Exchange Growth Market ("NEX"). A copy of the Admission Document is available for inspection at the Company's registered office at 6th Floor, 33 Holborn, London EC1N 2HT.
22 August 2019
Bracken Trading plc
Proposed Admission to Trading on the NEX Exchange Growth Market of Bracken Trading plc's Preference Share Capital
Bracken Trading plc ("Bracken", the "Company" or together with its subsidiaries and subsidiary undertakings the "Group"), announces that it has today made an application for admission of the entire issued preference share capital of 10,000 preference shares of £0.01 each ("Preference Shares") to trading on NEX ("Admission"). The Group's Preference Shares will trade under the ticker NEX:BRAC and will trade with the ISIN: GB00BKPT3B32. Admission is currently expected to occur on 9 September 2019.
The Group undertakes its main trade of lending as well as electricity generation through the operation of two solar farms. The Group typically lends to counterparties in the residential property finance sector. The Group's operations are presently all in the UK.
The Group was established in December 2007 with the incorporation of Bracken Holdings Limited. Since 2007 the Group has operated across a number of different sectors including lending, construction and development of energy sites and energy generation.
Bracken currently operates in two core sectors: property lending and solar electricity generation.
Property Lending
The property lending business provides short and medium-term financing to experienced, professional property developers, buy to let landlords and those seeking bridging finance. Bracken is able to offer a flexible, tailored product to its customers in a short time frame.
Solar Operations
The Group has acquired and constructed commercial solar farms either for sale or long-term ownership and operation (generating and selling electricity). Since 2017, the business has only owned one operational solar farm, however operations recently increased following the acquisition of MTS Spittleborough Solar Limited in April 2019 as the Group scaled up operations in this sector.
Directors
The Board consists of the Chief Executive Officer, Paul Stephen Latham, and two Non-Executive Directors: Timothy Arthur, Non-Executive Chairman, and Keith James Willey, Non-Executive Director.
Contacts
On behalf of Bracken Trading plc
Ben Thompson / Eleanor Bradfield Tel: 020 3142 4616
finnCap Limited (NEX Exchange Corporate Adviser)
Ed Frisby / Giles Rolls Tel: 020 7220 0500
Further disclosures required pursuant to sub-paragraph (b) of Appendix 2 of the NEX Exchange Growth Market Rules for Issuers:
The Company's NEX Exchange Corporate Adviser is finnCap Limited.
Sector classification: Financial Services
The Group's registered office is 6th Floor, 33 Holborn, London EC1N 2HT. The telephone number of Bracken is 020 3142 4616. Information about the Group's business, its directors, financial reports, latest announcements published and other investor related information as prescribed by Rule 72 of the NEX Exchange Growth Market Rules for Issuers will shortly be available at: www.brackentrading.co.uk
Securities to be admitted: Admission of 10,000 preference shares of £0.01 each in the capital of the Company
Securities in public hands: 13.5%
LEI Number: 984500QU7984A055DB74
IMPORTANT INFORMATION
Recipients of this announcement who are considering subscribing for or acquiring Preference Shares following publication of the Admission Document are reminded that any such acquisition or subscription must be made only on the basis of the information contained in the Admission Document, which may be different from the information contained in this announcement. No reliance may be placed, for any purpose whatsoever, on the information or opinions contained in this announcement or on its completeness. To the fullest extent permitted by applicable law or regulation, no undertaking, representation or warranty, express or implied, is given by or on behalf of the Company, finnCap Limited ("finnCap") or their respective parent or subsidiary undertakings or the subsidiary undertakings of any such parent undertakings or any of their respective directors, officers, partners, employees, agents, affiliates, representatives or advisers or any other person as to the accuracy, sufficiency, completeness or fairness of the information, opinions or beliefs contained in this announcement and, save in the case of fraud, no responsibility or liability is accepted by any of them for any errors, omissions or inaccuracies in such information or opinions or for any loss, cost or damage suffered or incurred, howsoever arising, from any use, as a result of the reliance on, or otherwise in connection with this announcement.
finnCap, which is authorised and regulated by the Financial Conduct Authority, is acting only for the Company in connection with the proposed Admission and is not acting for or advising any other person, or treating any other person as their respective client, in relation thereto and will not be responsible for providing the regulatory protection afforded to clients of finnCap or advice to any other person in relation to the matters contained herein. Such persons should seek their own independent legal, investment and tax advice as they see fit. finnCap's responsibilities as the Company's corporate adviser under the rules of NEX will be owed solely to the NEX Exchange and not to the Company, to any of its directors or any other person in respect of a decision to subscribe for or otherwise acquire Preference Shares in reliance on the Admission Document. finnCap has not authorised nor has it approved the contents of, or any part of, this announcement and no representation or warranty, express or implied, is made by finnCap or its affiliates as to any of its contents.
This announcement is only addressed to, and directed at, persons in member states of the European Economic Area who are qualified investors within the meaning of Article 2(e) of the Prospectus Regulation ("Qualified Investors"). For these purposes, the expression "Prospectus Regulation" means Regulation (EU) No. 2017/1129 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC. In addition, in the United Kingdom, this announcement is addressed to and directed only at Qualified Investors who are (i) persons having professional experience in matters relating to investments, i.e., investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "FPO"); (ii) high net-worth companies, unincorporated associations and other bodies within the meaning of Article 49 of the FPO; and (iii) persons to whom it is otherwise lawful to communicate it to. It is not intended that this announcement be distributed or passed on, directly or indirectly, to any other class of person and in any event, and under no circumstances should persons of any other description rely on or act upon the contents of this announcement.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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