CIP Merchant Capital Ltd Investment in Ixico plc (0690V)
12 Abril 2021 - 1:00AM
UK Regulatory
TIDMCIP TIDMIXI
RNS Number : 0690V
CIP Merchant Capital Ltd
12 April 2021
12 April 2021
CIP MERCHANT CAPITAL LIMITED
("CIP" or the "Company")
Investment in Ixico plc
CIP is pleased to announce its investment in Ixico plc (AIM:
IXI) ("Ixico"), the artificial intelligence data analytics company
delivering insights in neuroscience, quoted on AIM. The Company has
acquired, in aggregate, 1,784,500 ordinary shares of 1p each in
Ixico, representing approximately 3.72 per cent. of Ixico's issued
share capital, for a total consideration of approximately GBP1.2
million.
For its financial year ended 30 September 2020, Ixico achieved
revenue of GBP9.53 million, gross profit of GBP6.35 million, a
profit on ordinary activities before taxation of GBP0.86 million
and a net profit attributable to its equity holders of GBP0.95
million. As at 30 September 2020, Ixico had cash and cash
equivalents of GBP7.95 million and net assets of GBP9.12 million.
Currently, Ixico has a market capitalisation of approximately
GBP33.82 million.
The CIP Board notes the contract update released by Ixico on 23
March 2021 in respect of the Huntingdon's disease phase III trial
and open-label extension studies by its largest pharma customer and
the subsequent adverse movement in its share price. The Company's
Board believes that, regardless of such update's potential short
term impact on Ixico's financial performance, Ixico nevertheless
maintains a solid pipeline with a contracted order book underpinned
by its advanced data analytics capability in neuroscience.
For further information, please contact :
Merchant Capital Manager Limited (Investment Manager)
Wikus Van Schalkwyk + 44 1481 749363
Strand Hanson Limited (Nominated Adviser and Broker)
James Bellman / Matthew Chandler / Ritchie Balmer +44 20 7409 3494
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulation (EU) No. 596/2014 as it forms part of
United Kingdom domestic law by virtue of the European (Withdrawal)
Act 2018.
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END
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