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 firstname.lastname@example.org email@example.com firstname.lastname@example.org email@example.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 NRAFLLLFLFFZFBK -0- Nov/13/2012 07:01 GMT
Shore Capital Group SGR Puma Investments
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