MAC.L

Marechale Capital Plc
Marechale Capital Plc - Investment Update
11th May 2023, 10:30
TwitterFacebookLinkedIn
To continue viewing RNS, please confirm that you are a Private Investor*

* A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:

  1. Obtains access to the information in a personal capacity;
  2. Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
  3. Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
  4. Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
  5. Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
  6. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
                                                                    11 May 2023

                             Marechale Capital plc

                        ("Marechale" or the "Company")

                               Investment Update

The Directors of Marechale Capital plc (AIM: MAC) are pleased to note the
announcements by Burgh Island Hotel ("Burgh Island") and Weardale Lithium
Limited ("Weardale"), companies in which it holds investments.

In 2018, Marechale acted as adviser on the acquisition of Burgh Island.  The
Company notes that, on 10 May 2023, Burgh Island announced its proposed sale.
In the event that its sale concludes, the Directors of Marechale anticipate
there will likely be an opportunity to realise its investment.  Marechale holds
an interest in 4.9 per cent. of the equity of Burgh Island and the quantum of
any realisation will depend on the completion terms of the sale. The Company
will provide a further update to the market in the event of the completion of
the sale.

Further, the Company also notes the announcement by Weardale on 11 May 2023
advising that Weardale, a lithium exploration and development business based in
the Weardale Valley, County Durham in the north of England, has successfully
extracted lithium carbonate from geothermal brines and that these positive
tests results are amenable for lithium production.  Weardale further states
that it now intends to accelerate and scale-up of its testing of increased
volumes of lithium carbonate towards demonstrating commercial scale production.
The Directors of Marechale are pleased to note the positive developments at
Weardale, a company in which it holds an 8.5 per cent. interest.

When the Company's half-yearly results were reported on the 2 December 2022,
the Company's balance sheet showed net assets of approximately £3.48 million,
representing approximately 3.6 pence of value per share in issue.

For further information please contact:

Marechale Capital plc                              Tel: +44 (0)20 7628 5582
Mark Warde-Norbury / Patrick Booth-Clibborn

Cairn Financial Advisers LLP (Nomad)               Tel: +44 (0)20 7213 0880
Jo Turner / Sandy Jamieson

BlytheRay (Financial PR)                          Tel: + 44 (0)78 7574 4070
Tim Blythe / Megan Ray                       marechalecapital@blytheray.com

About Marechale Capital

Marechale is an established City of London based corporate finance house, with
a long-term track record and a strong reputation in advising & financing high
growth consumer brands, leisure, clean energy, and technology companies. The
Company uses its balance sheet to co-invest in its client companies, along with
warrants and founder equity, in order to create shareholder value.

Cautionary statement
Certain statements made in this announcement are forward-looking statements.
Such statements are based on current expectations and assumptions and are
subject to a number of risks and uncertainties that could cause actual events
or results to differ materially from any expected future events or results
expressed or implied in these forward-looking statements. Persons receiving
this announcement should not place undue reliance on forward-looking
statements. Unless otherwise required by applicable law, regulation or
accounting standard, the Company does not undertake to update or revise any
forward-looking statements, whether as a result of new information, future
developments or otherwise.
TwitterFacebookLinkedIn