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Manolete Partners Plc confirmed on April 26, 2022, the receipt of £5.6 million cash. This amount represents Manolete's share of a £9.5 million case investment, which was previously referenced in a trading statement released on April 11, 2022. Following this cash receipt, Manolete's net debt position is now £6.5 million.
| Date | 26 Apr 2022 |
| Time | 07:00:08 |
| Category | Corporate updates |
| ID | 2609J |
Manolete Partners Plc
("Manolete" or the "Company")
Update to recent Trading Statement and confirmation of cash receipt
In the trading statement released on 11 April 2022, Manolete Partners Plc (AIM: MANO), the leading listed insolvency litigation financing firm in the UK, referenced the completion of one of its larger case investments for £9.5 million, of which Manolete's share would be £5.6 million, and that the cash was due to be received in the near future. The Board can now confirm that all expected cash has been received.
Steven Cooklin, CEO of Manolete commented:
"I am pleased to report that the cash due to us, from this large investment, was received on schedule, within three weeks of the legal completion of the case. Our net debt position is now down to £6.5 million, and with new case enquiries rebounding sharply upwards following the challenges of Omicron, we look forward to further strong progress."
For further information, please contact:
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Manolete Partners Plc |
via Instinctif Partners |
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Steven Cooklin (Chief Executive Officer) |
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Peel Hunt (NOMAD and Sole Broker) |
+44 (0)20 7418 8900 |
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James Britton |
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Rishi Shah |
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Instinctif Partners (Financial PR) |
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Tim Linacre |
+44 (0)7949 939237 |