15th Feb 2021 11:41
St Peter Port Capital Ltd - closed ended investment company focused on small to mid-sized companies which are seeking to achieve an IPO - Proposes the disposal of all its assets, with the intent of returning the net cash to shareholders as a return of capital.
Following the completion of the auction, the firm will seek shareholder consent for the appointment of a liquidator, and cancel trading on AIM.
St Peter Port noted how the Covid-19 pandemic has affected its assets, with Brazil Potash Corp still held up on final mining permits, and foreign investors shying away from funding any mine development in Brazil.
Miner Red Flat Nickel Corp is expected to experience challenges from the change of administration in the US, and SeeCubic BV is still two years away from major commercialisation.
The auctions are to be conducted in two stages, starting with the submission of an expression of interest and evidence of capacity to participate, while the second stage will give an opportunity to review any confidential material, following which offers will be requested.
The process is expected to launch at around the start of March, and take six to eight weeks to complete.
Current stock price: 4.45 pence, 11%
Year-to-date change: up 71%
By Dayo Laniyan; [email protected]
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