Macaulay Capital PLC - Transfer of unquoted investment portfolio
RNS Number : 6632S
Macaulay Capital PLC
13 March 2023



Macaulay Capital PLC

13 March 2023



Macaulay Capital PLC


("Macaulay Capital" or the "Company")


Transfer of unquoted investment portfolio


Macaulay Capital PLC (AQSE:MCAP), which was formed to originate and manage corporate transactions, raise funds from third parties, invest its own funds alongside those of external investors and to manage its investment portfolio with the aim of maximising its value, announces that it has taken over the management of the unquoted investment portfolio of Chelverton Asset Management Limited ("CAM").


As set out in the admission document published in connection with the Company's admission to trading on the AQSE Growth Market in July 2022, the Company and its subsidiary, Macaulay Management Limited ("MML", together "the Group"), agreed to take over the management of the unquoted investment portfolio of five private companies from Chelverton Asset Management Limited ("CAM"). Under the agreements with the relevant companies, the Group is responsible for monitoring their performance, which usually includes a board position, for which it is entitled to monthly management fees and a potential performance fee on exit.


David Horner is a director and significant shareholder of CAM, which is therefore a related party of the Company. Accordingly, the transfer is deemed to be a related party transaction under the AQSE Rules.  The directors of the Company (other than David Horner), having exercised reasonable care, skill and diligence, believe that the transfer of these agreements from CAM to the Group is fair and reasonable as far as the shareholders of the Company are concerned.


The Directors of the Company accept responsibility for the contents of this announcement.






Macaulay Capital PLC


Clive Milner

+44 (0)12 2554 1904

Cairn Financial Advisers LLP (AQSE Corporate Adviser)


James Caithie
Louise O'Driscoll

Emily Staples

+44 (0)20 7213 0880


Oberon Capital (Broker)


Chris Crawford

+44 (0)20 3179 5304


For more information please visit:


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 or visit

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.