TIDMGROW
RNS Number : 7241F
Draper Esprit PLC
19 July 2021
Draper Esprit plc: Publication of the Prospectus, cancellation
of trading on AIM and Euronext Growth and Admission to trading on
the Main Markets.New Board Director appointment
Draper Esprit plc (dual listed, AIM: GROW, Euronext Growth:
GRW), a leading venture capital firm investing in and developing
high growth digital technology businesses, is pleased to announce
the publication of a prospectus (the "Prospectus") today in
connection with the listing of its ordinary shares of GBP0.01 each
(the "Ordinary Shares") on the premium listing segment of the
Official List of the Financial Conduct Authority and the secondary
listing segment of the official list of the Irish Stock Exchange
plc, trading as Euronext Dublin ("Euronext Dublin") (the "Official
Lists") and to trading on the London Stock Exchange plc's (the
"London Stock Exchange") main market for listed securities and the
regulated market of Euronext Dublin (the "Main Markets") (together
"Admission").
It is expected that Admission will become effective, and that
unconditional dealings in the Ordinary Shares on the Main Markets
will commence at 8.00 a.m. on 23 July 2021. Shortly before
Admission, the trading of the Ordinary Shares on the AIM market of
the London Stock Exchange ("AIM") and the Euronext Growth market
will be cancelled.
Admission will be through an introduction of the existing
Ordinary Shares. The Company is not offering any new Ordinary
Shares nor any other securities in connection with the proposed
Admission or the publication of the Prospectus. Following
Admission, the Company's Ordinary Shares will continue to be
registered with their existing ISIN number GB00BY7QYJ50. The
Company's ticker symbol in the UK will continue to be GROW and in
Ireland will continue to be GRW. On Admission, there will be
152,999,853 Ordinary Shares in issue.
The Prospectus has been approved by the Financial Conduct
Authority and the Central Bank of Ireland and is available for
inspection on the Company's website at www.draperesprit.com. Copies
of the Prospectus will also be available, on request, in printed
form at the Company's registered office, 20 Garrick Street, London,
United Kingdom, WC2E 9BT.
The Company's existing shareholders should consult their own tax
advisers as to the tax implications of the Company's proposed move
to the Main Markets.
The Company is also pleased to announce that, conditional upon
and with effect from Admission, Gervaise Slowey will join the Board
as a non-executive director.
Gervaise Slowey is a non-executive director with a background in
senior management, international business, marketing and media. She
serves as a non-executive director on the boards of Wells Fargo
Bank International ("WFBI"), Ulster Bank Ireland DAC, Eason PLC
(Ireland's largest book retailer) and the Institute of Directors in
Ireland. She also chairs the Performance and Remuneration Committee
for Ulster Bank Ireland, and the Nomination Committee for WFBI.
Gervaise was CEO of Communicorp Group (now Bauer), Ireland's
largest independent radio group for four years to the end of 2016.
Prior to that Gervaise held senior roles in Ogilvy Worldwide for 16
years, most recently Global Client Director. Gervaise has also
served on the boards of the International Rice Research Institute,
a global organisation dedicated to abolishing poverty and hunger
among those dependent on rice, and the Institute for International
and European Affairs (IIEA). Gervaise is a Chartered Company
Director (Institute of Directors), a Certified Bank Director
(Institute of Bankers), and a Dublin City University Business
Studies graduate (BBS). She is particularly interested in
sustainability and recently completed the Sustainability Leadership
Program at Cambridge University.
Karen Slatford, Chair of Draper Esprit commented:
"Our move to the Main Market signifies the next leap forward for
Draper Esprit and we are pleased to welcome Gervaise to the Board
as we continue our journey towards becoming Europe's leading
venture capital investor. Her considerable experience, which spans
a wide range of roles and companies, will be invaluable in
providing diversity of thought to the Board and her appointment
will help ensure a robust corporate governance structure is in
place in support of the company's continued growth."
There are no further details to disclose for Gervaise Slowey
under Listing Rule 9.6.13 and she does not currently hold any
Ordinary Shares.
Enquiries
Draper Esprit plc
Martin Davis (Chief Executive
Officer)
Ben Wilkinson (Chief Financial
Officer) +44 (0)20 7931 8800
Numis Securities
Nominated Adviser & Joint Broker
Simon Willis
Richard Thomas
Jamie Loughborough +44 (0)20 7260 1000
Goodbody Stockbrokers
Euronext Growth Adviser & Joint
Broker
Don Harrington
Charlotte Craigie
Linda Clarke +44 (0) 20 3841 6202
Powerscourt
Public relations
Elly Williamson +44 (0)7970 246 725 /
Jane Glover +44 (0)7713 246 126
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in
Europe, investing in disruptive, high growth technology companies.
We believe the best entrepreneurs in Europe are capable of building
the global businesses of the future. We fuel their growth with
long-term capital, access to international networks and decades of
experience building businesses.
Currently, Draper Esprit is a shareholder in a diverse portfolio
of 71 companies with 17 of those part of our core portfolio which
accounts for over 60% of our holdings. Our core companies include
UiPath, Aircall, Graphcore and Revolut. We invest across four
sectors: Consumer Technology, Enterprise Technology, Hardware and
Deeptech, and Digital Health and Wellness, with highly experienced
partners constantly looking for new opportunities in each. We look
for high-growth companies with strong IP, powerful technology, and
the management teams to deliver success. They operate in new
markets, with serious potential for global expansion. We also look
for businesses with the potential to generate strong margins to
ensure rapid, sustainable growth in substantial addressable
markets.
Draper Esprit provides an opportunity for public market
investors to access these fast-growing tech businesses, without
having to commit to long term investments with limited liquidity.
Since IPO in June 2016, we have deployed circa GBP550m+ capital
into fast growing technology companies and have realised over
GBP300m. In June 2021 we raised gross proceeds of circa GBP111m to
help us capitalise on a European VC market which is expanding
rapidly but is still less than one quarter of the combined size of
the US and European market by value. It will also allow us to
capitalise on the transition to a digital future that has been
given added impetus over the past year.
For more information, go to https://draperesprit.com/
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END
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