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14 July 2020
First Sentinel Plc
(“First Sentinel” or the “Company”)
Issue of Green Finance Preference Shares
First Sentinel Plc (“First Sentinel” or the “Company”) (AQSE: FSEN), the alternative investment company focused on providing growth capital for public and private company investments, announces that it has raised £200,000 from the issue of 200,000 Green Finance Preference Shares at £1 per Green Finance Preference Share. The proceeds will be used to invest in the ethical, sustainable and renewable energy sectors and investments will be made through the Company’s wholly-owned subsidiary New Leaf Capital Limited (the “Subsidiary”). Application is being made for the Green Finance Preference Shares to be admitted to trading on Aquis Stock Exchange Growth Market and it is anticipated that the Shares will commence trading on or around 20 July 2020. The ISIN for the Green Finance Preference Shares is GB00BKRQWQ03.
The Green Finance Preference Shares were approved on 18 November 2019 with the aim to raise up to £7,000,000 to invest in the activities of the Subsidiary which focuses on investments in the ethical, sustainable and renewable energy sectors. The Green Finance Preference Shares consist of a financial instrument that combines loan notes with denomination of £0.99 with preference shares of £0.01 each and allows investors to convert their investment and accrued interest into ordinary shares on 31 August 2022 and thereafter every year at the market price at the time of conversion. Interest rate accrues in respect to the proportion of the investment relating to the loan notes and comprises a fixed interest rate of 5.05% and a variable interest rate (payable if certain conditions are met) which can range from 0% to 10.15.
The circular of the General Meeting convened to approve the creation of the Green Finance Preference Shares contains further details on their terms and conditions and a copy of such notice is available on the Company’s website at www.first-sentinel.com.
Following today’s issue, the Company will have 396,000 Green Finance Preference Shares (each comprising one preference share and one loan note) in issue. The Company will make a further regulatory news announcement at the point of any further Green Finance Preference Shares issue(s).
About New Leaf Capital
First Sentinel has established a wholly-owned subsidiary, New Leaf Capital Limited, which will deploy the proceeds of the funds raised via Green Finance Preference Shares and implement the green finance investment strategy. The investment objective is to generate an attractive total return for investors as well as providing an ethical investment option. This will be achieved principally through providing growth capital to public and private companies with a specific focus on ethical, sustainable and environmental sectors.
About First Sentinel
First Sentinel is an alternative investment company, registered with the FCA as a small authorised UK AIFM, which provides growth capital for public and private company investments. First Sentinel invests in a range of debt and equity instruments in target portfolio companies.
The Company’s website is www.first-sentinel.com
For further corporate information, please contact:
Mr. Brian Stockbridge
First Sentinel Plc
Tel: + 44 (0) 7876 888 011
AQSE Corporate Advisor
Beaumont Cornish Limited
James Biddle / Roland Cornish
Tel: +44(0)20 7628 3396