Shore Capital Group SGR Puma Investments

  Shore Capital Group (SGR) - Puma Investments

RNS Number : 9459Q
Shore Capital Group Limited
13 November 2012






For immediate release 13 November 2012







  Shore Capital launches new investment business and latest VCT - Puma VCT 9



· New standalone brand to focus on tax efficient products

· Highly experienced investment team, successful 16 year track record

· Launch of Puma VCT 9 - 1% early bird discount offer

· The only planned exit VCTs to have returned 100p per share in cash to
investors

· Over £57m paid out in cash dividends to VCT shareholders



Today sees the launch of Puma VCT 9 plc, the first VCT to be launched by  Puma 
Investments the newly  formed specialist provider  of tax efficient  solutions 
from Shore  Capital Group.  Under the  leadership of  CEO, David  Kaye,  Puma 
Investments plans to launch and manage a new range of tax efficient products.



Commenting,  David  Kaye  said:  "Puma  Investments  will  benefit  from   the 
successful track  record, skills  and expertise  of the  Shore Capital  team. 
Having our products under one distinctive  brand creates greater clarity at  a 
time when  investors are  increasingly seeking  vehicles which  offer  capital 
preservation within a tax efficient structure."



The new Puma VCT 9 will run  a similar investment strategy to, and be  managed 
by the same team  as, the previous successful  Puma VCTs, seeking to  preserve 
capital whilst producing regular, tax-free dividends to shareholders. The VCT
intends to maintain a regular dividend payout of up to 6p per annum, the first
such payment being  made in  April 2015.  Qualifying investments  will be  in 
established unquoted companies, primarily in the form of secured loans.



Applications for shares in Puma VCT  9 received before 31 December 2012,  will 
receive a 1% enhancement in additional shares. Puma VCT 9 will be  attractive 
to investors  seeking  a  tax-efficient, higher  income  investment  with  the 
defensive qualities  associated with  Puma's emphasis  on asset  backed,  well 
managed companies.





Eliot Kaye, Director of Puma Investments  and Investment Director of the  Puma 
VCTs added: "The ongoing effects of the credit crisis mean that SMEs are still
finding it difficult  to access  the funding  they need  from the  traditional 
banks. As a consequence, we have seen a significant increase in our  pipeline 
of potential  investments.  In particular,  we  are seeing  many  established 
companies which have substantial assets  or predictable revenue streams,  over 
which a  first  charge  can  be taken,  thereby  reducing  the  risks  usually 
associated with venture capital investing. For us it's all about backing  the 
right management teams, adding value where we can and letting them get on with
what they do best - running their business."



Puma VCT 9 - key information:



Minimum investment £5,000

Maximum investment £200,000

Offer price` 100p

Annual management charge 2%

Initial costs 5.5%

Initial closing date 5 April 2013



As with all  Puma VCTs,  which are limited  life, planned  exit vehicles,  the 
directors have the ability to  convene an extraordinary general meeting  after 
the fifth anniversary  of the fund  for the shareholders  to vote on  entering 
into solvent liquidation. Puma believes this  to be the most efficient  route 
to return capital to shareholders and avoids them having to sell their  shares 
on the secondary market.



In 2011,  Puma VCTs  were the  first planned  exit VCTs  to have  returned  to 
shareholders 100p  in  cash, equivalent  to  a  66% total  return  tax  free. 
Launched in 2005, the five year limited life Puma VCT plc and Puma VCT II  plc 
raised over  £19m. Investors  in these  VCTs  received a  tax rebate  of  40% 
meaning that investments had a net cost  of 60 pence per share. The  internal 
rate of  return  for  shareholders was  11.6%  per  annum over  the  six  year 
investment period and was free of all tax.



                                   - Ends -









Further information  on Puma  Investments, its  products and  services can  be 
found at www.pumainvestments.co.uk.



Photographs available upon request



Puma Investments Quill PR

David   Kaye/Eliot    Kaye    Jo 
Stonier/Fiona Harris

020   7408   4090020 
7466 5050

david.kaye@pumainvestments.co.uk jo@quillpr.com

eliot.kaye@shorecap.co.uk
fiona@quillpr.com





About Puma Investments



1. Part of Shore Capital Group, Puma Investments is a specialist provider  of 
tax efficient  solutions. As  well as  the launch  of the  Puma VCT  9,  Puma 
Investments has ambitious plans to build  upon its excellent VCT track  record 
and is developing a  range of investment solutions,  including IHT and  EIS's, 
which deliver capital preservation and risk mitigation.



2. David Kaye, Chief Executive Officer of Puma Investments. David  graduated 
from Oxford with  a degree  in law  and was  called to  the Bar  in 2000.  He 
practised as a barrister at a leading  London set of chambers for five  years, 
specialising in advising on a range of complex commercial legal issues with  a 
particular focus on financial  investments and real  estate. He joined  Shore 
Capital in  January  2006  as  Deputy  General  Counsel  and  in  2011  became 
Commercial Director and General Counsel  for Shore Capital Group Limited.  In 
2012, David  was appointed  CEO  of the  asset  management division  of  Shore 
Capital.



Eliot Kaye, Director. Eliot is a  director of Puma Investments having  joined 
Shore Capital in 2006  following seven years at  leading city law firm  Berwin 
Leighton Paisner LLP. He advised on  a substantial number of M&A and  private 
equity deals, and was short-listed as a nominee for the Associate of the  Year 
Award at the Legal Week Awards 2004.  Eliot leads the team managing the  Puma 
VCTs, and has  also been  involved in the  management of  several other  Shore 
Capital funds. He  is responsible for  the structuring and  execution of  new 
deals for the funds and representing the funds with investee companies.



3.Shore Capital Group is an AIM-listed independent investment  group.Shore 
Capital specialises in principal finance, equity capital market activities and
alternative asset management.The  Equity Capital Markets  division offers  a 
wide range of  services for  companies, institutions  and other  sophisticated 
clients, including corporate finance, stock broking and  market-making.Shore 
Capital  Limited  manages  specialist  funds,  with  a  particular  focus   on 
alternative asset classes, and has funds under management of c£900 million.



4.With a 27 year  record and over 100  employees based in Guernsey,  London, 
Liverpool, Edinburgh  and Berlin,  Shore Capital  Group operates  a number  of 
successful businesses:  Puma Investments  (which is  a trading  name of  Shore 
Capital Limited), Shore  Capital Stockbrokers  Limited and  Shore Capital  and 
Corporate Limited are each authorised and regulated by the Financial  Services 
Authority.Shore Capital Stockbrokers Limited is a member of the London Stock
Exchange.

                     This information is provided by RNS
           The company news service from the London Stock Exchange

END


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