Business
Final Results and Notice of G
Final Results and Notice of G.
About this update from Marechale Capital Plc
[{"type":"text","content":"\n RNS Number : 2761S Marechale Capital PLC 07 September 2010 \n \n\n7 September 2010\n \nMarechale Capital plc\n(\"Marechale Capital\" or the \"Company\")\n \nConsolidated Financial Statements for the Year Ended 31 March 2010 and Notice of General Meeting\n \n \nChairman's Statement\nFor The Year Ended 31 March 2010\nSince last reporting to you in September 2009, and as announced at the time, we completed the sale of the Small Cap Stockbroking and PLUS Market Adviser businesses last year. The Company retained its AIM listing, FSA authorisation and LSE broking licence.\nIn November 2009, we announced the acquisition of Marechale Capital Limited - in doing so creating a 'Group' - and the appointment of Patrick Booth-Clibborn to the Group's board as Chief executive. Following shareholder approval in February 2010, we changed the Group's name to Marechale Capital Plc. Marechale Capital continues to be quoted on AIM, with the new ticker symbol 'MAC', and shareholders' current share certificates remain valid.\nAt the EGM in February the shareholders approved a Share Capital Reorganisation whereby each share of 5p nominal value would comprise 1 New Ordinary Share of 1p each and 4 Deferred Shares of 1p each. The purpose of this transaction was to reflect that the Company's mid-market share price has been below the previous nominal value of 5p per Ordinary Share for over a year.\nMarechale Capital now operates as a low cost investment banking and corporate finance business. Virtually everything that is not core to generating revenue is outsourced and, with this low cost base, the Group is raising equity and debt funding for growth companies and funds.\nThe year 2009-10 Annual accounts therefore reflect the activity of the old, loss making St Helen's Capital business prior to its sale, and the transition to its new strategy as Marechale Capital, which was completed in early 2010. Since then the Group has been active in marketing its services and has engaged and completed six transactions. Marechale Capital's focus is on growth companies, both private and quoted, and funds, with a particular interest in Consumer, Leisure and the rapidly growing Renewables sectors.\nSince the beginning of calendar 2010, the Group has generated fees to cover costs and has achieved break-even in the first three months of the new fin...