Schroder UK Public Private Tst plc Seedrs merger with Crowdcube (4355B)

TIDMSUPP

RNS Number : 4355B

Schroder UK Public Private Tst plc

08 October 2020

8 October 2020

Portfolio company Seedrs announces plan to merge with Crowdcube

Schroder UK Public Private Trust plc (LSE: SUPP) (the 'Company') is pleased to note that portfolio company Seedrs Ltd, ('Seedrs'), a leading online investment platform, has announced plans to merge with Crowdcube Ltd ('Crowdcube') to create one of the world's largest private equity marketplaces.

On Monday 5(th) October 2020, Crowdcube and Seedrs announced that they had agreed terms for a merger, in a move that will accelerate their plans to create the world's largest private equity marketplace and further democratise investment. By joining forces, the ambition is that thousands of ambitious, fast-growth businesses and millions of investors will be able to benefit from the best expertise, services and returns offered by Crowdcube's and Seedrs' investment platforms.

On completion, Jeff Kelisky, Seedrs' CEO, will serve as CEO of the combined company, and Darren Westlake, Crowdcube's CEO and co-founder, will serve as Executive Chairman. The management team will include key leaders from both businesses. The combined company aims to deliver new innovations and products that will make it significantly easier, more affordable and valuable for ambitious businesses to raise growth finance, and for investors to have an even greater selection of investment opportunities with richer investment tools.

The transaction is subject to approval by, among others, the UK Competition and Markets Authority (CMA), the Financial Conduct Authority (FCA) and shareholders of the two companies as well as the sanction of the Court. The transaction is expected to be completed in late 2020/early 2021.

The impact of this prospective transaction will be considered by the Company's AIFM in relation to the NAV calculation as at 30(th) September 2020.

Enquiries:

Gareth Faith

   Schroder Investment Management Limited    Tel: 020 7658 5264

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.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCUPGCGUUPUGMM

(END) Dow Jones Newswires

October 08, 2020 02:00 ET (06:00 GMT)

Woodford Patient Capital (LSE:WPCT)
Historical Stock Chart
From Oct 2024 to Nov 2024