26 July 2024  

Macaulay Capital PLC

("Macaulay Capital" or the "Company")

Extension of warrant exercise date and Director loan

Macaulay Capital PLC (AQSE:MCAP), which was formed to originate and manage corporate transactions, raise funds from third parties, invest its own funds alongside those of external investors and to manage its investment portfolio with the aim of maximising its value, announces the extension of the exercise date for certain warrants and also a loan to be made to the Company by its Managing Director, David Horner.

As set out in the Company's AQSE admission document dated 25 July 2022, Harry and Tom Horner (the adult sons of David Horner) each hold 3,000,000 warrants ("Unconditional Founder Warrants") that were required to be exercised at a subscription price of £0.25 per share by the date two years from the Company's admission to trading on AQSE (29 July 2024). The Company has agreed to extend the date by which the Unconditional Founder Warrants must be exercised to 31 December 2024 ("Warrant Extension").

In addition, David Horner has agreed to lend the Company £500,000 (the "Loan") for working capital and other purposes.  The Loan is unsecured and ranks alongside the Company's ordinary shares, is interest free and is repayable on or before 31 December 2024 from the proceeds of the exercise of the Unconditional Founder Warrants.

As David Horner is a director of the Company and Harry and Tom Horner are both substantial shareholders, the Warrant Extension and the Loan are deemed to be related party transactions under the AQSE Rules.  The Company's other directors, Lindsay Mair and Richard Bucknell, having exercised reasonable care, skill and diligence, believe that the Warrant Extension and the Loan are fair and reasonable as far as the shareholders of the Company are concerned.

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company are responsible for the release of this announcement.

ENDS 

Enquiries:

For more information please visit: www.macaulaycapital.com