14th Mar 2008 08:10
Powerleague Group plc14 March 2008 14 March 2008 Powerleague Group Plc ("Powerleague" or the "Company") Strategic Partnership, appointment of directors and directors' dealings As part of the Company's growth strategy in the UK and Europe, Powerleague, theleading commercial operator of 5-a-side football centres in the UK, is pleasedto announce a strategic partnership (the "Partnership") with Patron CapitalPartners ("Patron"). Patron is a highly respected and successful investment fund with strong privateequity and real estate expertise. It has an established track record ofinvesting in asset-backed growth businesses and property portfolios, principallybacking strong management teams and local partners in the UK and across Europe.It is expected that, amongst other things, the Partnership will significantlyenhance the Company's ability to grow the business and to identify and unlockvalue from its current and future real estate portfolio. As part of the partnership, the Company is also pleased to welcome to the Board,with immediate effect, two non-executive Directors, Paul Orchard-Lisle, age 69and Keith M. Breslauer, age 42. Paul was previously Senior Partner of Healey &Baker, President of the Royal Institution of Chartered Surveyors, and Chairmanof Slough Estates plc. He is currently the Chairman of Falcon Property Trust, aDirector of Standard Life Property Income Trust, Director of Trinity Capital PLCand the Chairman of Bennelong UK, the property arm of Crown Golf, the largestoperator of golf clubs in Europe. Keith is the founder and managing director ofPatron Capital Limited and related Patron entities. He has over 20 yearsexperience in Corporate and Property Finance and held senior positions at LehmanBrothers in both New York and London. Commenting on the strategic partnership and appointments, Claude Littner,Chairman of Powerleague said: "This strategic partnership with Patron is mostwelcome and will enable Powerleague to accelerate the next phase of itsdevelopment. By partnering with Patron we are accessing their significantproperty, retail and leisure experience, as well as extensive land holdings. InKeith and Paul we are adding significant strength to our Board and thecombination of these factors will bring greater opportunities for organic andsite pipeline growth to the benefit of all Powerleague shareholders." Keith M. Breslauer, Managing Director of Patron Capital Limited (investmentadvisor to Patron) added: "Powerleague has established itself as the marketleader in UK commercial 5-a-side. We were attracted by the strength of themanagement team, the commercial proposition and growth potential, supported bystrong asset backing and stable cash flows. Patron benefits from a wide networkof global relationships within the leisure and sports industries as well as awide reaching support team and partner network in the UK and across Europe. Wefirmly believe that these assets can be applied successfully to Powerleague, inorder to help facilitate further UK and European expansion." As part of the partnership, Patron Capital has acquired a 29.0 per cent holdingin Powerleague at 97.5 pence per share, a 20.4 per cent premium to the closingshare price of the Company on 13 March 2008. These shares were acquired fromDirectors, Claude Littner and Sean Tracey as follows: Director No of Shares Sold Price of No. of Shares Transaction following transaction (% ISC)-------------------------------------------------------------------------- Claude Littner 15,818,533 97.5p 3,556,467 (4.35%)Sean Tracey 7,909,267 97.5p 1,778,232 (2.17%)-------------------------------------------------------------------------- Following this transaction the continuing directors remain significantshareholders in the Company, holding in aggregate 9.19% of the Company's issuedshare capital. Mr Littner and Mr Tracey continue to be committed to the businessgoing forward and will remain in their roles of Chairman and Chief Executiverespectively and have both entered in to 9 month lock-in agreements in respectof their remaining shareholdings. Further information required to be disclosed under Schedule 2 (g) of the AIMRules: Paul Orchard-Lisle: Standard Life Investments Property Income Trust *Bennelong (UK) Limited*Trikona Trinity Capital*Europa Capital LimitedRoyal Artillery Museums LimitedSlough Estates PlcHealey & Baker Investment AdvisorsProperty Nominees Limited*Falcon Managers Limited* Keith M. Breslauer: Patron Capital Limited*Patron Capital GP Limited*Equidebt Holdings Limited*Simon Storage Holding LimitedSiena Holdings LimitedSiena Investments Limited * Current Directorships For further information please contact: Claude Littner, ChairmanSean Tracey, Chief Executive Lulu Bridges / John WestPowerleague Group PLC Tavistock CommunicationsTel: 0141 887 7758 Tel: 020 7920 3150 Stephen Keys Tim MedakCenkos Securities plc Ernst & YoungTel: 020 7397 8926 Tel: 020 7951 7491 Notes to Editors About Patron Patron Capital Partners ("Patron") represents approximately €1.6 billion ofcapital across several funds and related co-investments, investing in property,corporate operating entities whose value is primarily supported by propertyassets and distressed debt and credit related businesses. Since 1999, its Fundshave made more than 36 investments involving approximately 18 million squarefeet in 12 countries. Investors represent a variety of prominent universities,major institutions, private foundations, and high net worth individuals locatedthroughout North America and Europe. Patron prides itself on its institutional approach to fund management andreporting, as well as its entrepreneurial culture and ability to conductthorough due diligence and to expedite decisions. The Patron team has many yearsof collective experience in private equity and real estate, and all staff havemade personal financial commitments to the success of the investments. Centralto Patron's strategy is the practice of investing with a pan-European network oflocal partners, who are familiar with the local market and co-invest alongsidethe funds, and backing management teams. The investment adviser to the Funds is Patron Capital Limited, established in1999. Headquartered in London with associated offices in Barcelona, Milan,Luxembourg and Warsaw, the group includes 26 investment professionals. TheFounder and Managing Director of Patron Capital Limited is Keith M. Breslauer,who has 20 years experience in property and corporate finance. Further information can be found at www.patroncapital.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Power Probe