MAP MG Capital

RNS Number:6986D
MG Capital PLC
05 October 2004


                                 MG CAPITAL PLC

                     COMPLETION OF ACQUISITION AND PLACING


MG Capital has completed the acquisition of Hannen and Company, whose main
activity is acting as an asset allocation adviser to Family Investments Limited,
a Bahamas-based open-ended offshore fund with assets of approximately $30
million which provides a vehicle for the long term strategic management of
family and individual wealth. Hannen and Company also owns ordinary shares and
warrants in Celtic Resources Holdings plc worth approximately  =374691*3.915 /
1000000 /# ##.0#1.5 million at yesterday's closing price. MG Capital has also
completed the placing of 2,500,000 new shares at 100p per share, which was the
maximum number of shares which it could issue under its placing.  MG Capital
intends to use the proceeds of the placing to market its existing funds, to
launch new funds, and to take advantage of opportunities to acquire investment
businesses or specialist teams of professionals in complementary areas and other
investment opportunities.

Following completion of the acquisition of Hannen & Company Ltd, Peter Hannen,
Jonathan Scott-Barrett and Peter Curtin have been appointed to the Board of the
Company. The Directors, their respective functions and interests in the capital
of the Company are as follows:


Name                               Position                           Number of shares     Percentage of
                                                                                            issued share
                                                                                                 capital

Peter Hannen                       Chairman                                  1,838,596             38.3%
Charles Fowler                     Managing Director                            75,677              1.6%
Jonathan Scott-Barrett             Chief Operating Officer                     115,212              2.4%
Michael Baines                     Non-Executive Director                        6,500              0.1%
Peter Curtin                       Non-Executive Director                      115,212              2.4%
Peter Robertson                    Non-Executive Director                          100              0.0%



In addition, the Directors are aware of the following persons who are interested
in 3 per cent. or more of the issued share capital of the Company:


Name                                                                     Number of shares    Percentage of
                                                                                              issued share
                                                                                                   capital

Family Investments Limited                                                        250,000             5.2%
Guy Hannen                                                                        150,000             3.1%
Brigid Hannen                                                                     150,000             3.1%



There are now 4,804,510 ordinary shares of 50p each in issue.



5 October 2004
Enquiries
MG Capital plc  020 7332 2040
Charles Fowler, Managing Director


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

ACQFSLFWLSLSELS

Mg Capital (LSE:MAP)
Gráfica de Acción Histórica
De May 2024 a Jun 2024

Mg Capital (LSE:MAP)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024