18th Jul 2019 13:39
(Alliance News) - Oakley Capital Investments Ltd on Thursday said it will be leaving London's junior AIM for the Specialist Fund Segment.
The Segment, Oakley has decided, is more appropriate for a company of its type, size, structure, and investment policy.
"Oakley has grown significantly following strong and consistent performance, with the company's net asset value increasing to GBP575 million as at December 31. The principal driver of this performance has been the high growth in earnings of the underlying Oakley Funds' portfolio companies," said Oakley.
"These companies typically benefit from being market leaders in their chosen niche, a niche that is importantly enjoying some form of structural growth. They have high revenue visibility as a result of contracted or recurring sales and enjoy large diversified customer bases," it continued.
"The investment adviser continues to see compelling new investment opportunities across its target sectors of consumer, TMT, and education and Oakley recently announced its commitment to Oakley Capital IV, the successor fund to Oakley Capital Private Equity III."
Oakley will not issue any new shares as part of the move, and its ticker and ISIN will remain unchanged. Oakley expects the move to occur on August 23.
The company also on Thursday announced a new non-executive director, Craig Bodenstab, who it said has a "wealth" of experience in finance and fund management. This comes as Non-Executive Director James Keyes departs.
Chair Caroline Foulger said: "I would like to thank James for his significant contribution during his time as director, a tenure that has overseen the substantial growth and development of OCI."
"We are excited to welcome Craig Bodenstab to the board. Craig brings significant knowledge and expertise from a long career in investment management and having served on investment company boards. We look forward to benefiting from his considerable experience as he joins us as a board member."
Shares were 0.8% lower on Thursday at a price of 238 pence each.
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