Monchhichi plc Market Update & Appointment of Directors (1097W)
November 10 2017 - 2:00AM
UK Regulatory
TIDMMCC
RNS Number : 1097W
Monchhichi plc
10 November 2017
For Immediate Release 10 November 2017
This announcement contains inside information for the purposes
of Article 7
of the Market Abuse Regulation (EU) No 596/2014
Monchhichi Plc ("Monchhichi" or the "Company")
Update on move to Standard List of the Main Market
Proposed appointments of additional Directors
Time extension to Bonus and other Warrants
Change of Accounting Reference Date
Update on Move to Standard List of the Main Market
Monchhichi's plan is to make a series of cohesive and meaningful
acquisitions with clear existing industry validation and disruptive
growth trajectory in the Technology, Media and Internet
sectors.
The Directors are pleased to announce that the process to
complete the move to the Standard List of the Main Market is
substantially complete and that in due course the Company can
publish its prospectus together with the notice to convene a
General Meeting. As was previously communicated, the Company has
already received irrevocable voting undertaking substantially in
excess of the minimum simple majority requirement for the two
proposed Resolutions to approve the initial Sentiance investment
and the extension of the Company's Investment Policy.
Proposed appointment of additional Directors
The Company is pleased to announce that the following Directors
are expected to be appointed upon commencement of trading of the
Company's Ordinary Shares on the Standard List of the Main
Market:
Henry Gordon (44) as Executive Director and Chief Operating
Officer. Henry has 20 years of equity markets experience with a
deep understanding of capital raising and management in both the
public and private arena and previously worked at Goldman Sachs in
Australia and Credit Suisse in London before returning to Asia as
CEO of BTIG in Singapore. Henry is currently Senior Director Equity
Sales and Trading at Macquarie Bank Hong Kong and is expected to
join Monchhichi in a fulltime capacity in early 2018.
Johnny Chan (58) as Non-Executive Director. Johnny has 30 years
of extensive Asia based experience in venture capital and equity
capital markets combined with major senior public service positions
in education and technology across the region. His current roles
include President and Executive Director of HK Venture Capital
& Private Equity Association and Non-Executive Director of CNQC
International Holdings.
Gerald Rossi (67) as Senior Non-Executive Director. Jerry has
over 40 years of executive experience in the TMT sector. His
initial experience included various posts with NYNEX (Verizon) in
the US and abroad followed by his appointment as CEO of PT
Excelcomindo Pratama ("XL"), one of the largest South East Asia
mobile network operators. He held this position until the company
was sold to Telekom Malaysia in January 2005.
Full details of the additional Directors will be included in the
prospectus.
Time extension to Bonus and other Warrants
In view of the timeline upon which the Ordinary Shares of the
Company are anticipated to commence trading on the Standard List,
the Directors are pleased to confirm that they have agreed to
extend the exercise deadline of the 60p Bonus Warrants and all
other issued Warrants by a period of 3 months. As a result, the
Bonus Warrants would now require to be exercised or otherwise lapse
by the holders on or prior to 24 March 2018.
Change of Accounting Reference Date
The Directors have decided to change the accounting reference
date from 31 March to 31 December. As a result, the current
financial period will be for a period of 9 months, ending 31
December 2017.
Commenting on today's announcement Simon Fry, Executive
Chairman, said:
"We are pleased that the transaction process on our first major
investment and move to the Standard List of the Main Market is now
nearly completed. I am very much looking forward to start working
with the additional Directors in the near term. Their collective
experience and complementary skill sets shall undoubtedly yield
considerable positive benefits for Monchhichi and its stakeholders
in the future".
Market Abuse Regulation
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
For further information:
Buchanan (Financial communications)
Richard Oldworth / Henry Harrison-Topham Tel: +44 (0)20
/ 7466 5000
Catriona Flint www.buchanan.uk.com
monchhichi@buchanan.uk.com
Enquiries:
Panmure Gordon (Nominated Adviser Tel: +44 (0)20
and Broker) 7886 2500
Dominic Morley / Alina Vaskina
Notes to the editors:
Monchhichi (MCC.L) is a UK quoted company that focuses on making
conviction investments / acquisitions in people, organisations and
outstanding businesses with proven track records, industry
validated market positions and clearly visible disruptive growth
opportunities in the Technology, Media and Internet space globally.
For more please visit www.monchhichi.life
This information is provided by RNS
The company news service from the London Stock Exchange
END
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