CIP Merchant Capital is pleased to announce its Interim Report and Unaudited Consolidated Financial Statements for the six month period ended 30 June 2021.
· The Company's portfolio comprised investments in 14 companies as at 30 June 2021
· The Company's unaudited NAV as at 30 June 2021 was 88.85p
· During the period, the Company invested in HSS Hire Group plc, Ixico plc and Vertu Motors plc and secured an option with certain shareholders of 7Star Srl ("Happy Friends") to potentially acquire a further equity interest of up to 41.6 per cent. in Happy Friends for a nominal consideration
· Post the period end, the Company exited its investment in Proactis Holdings plc, which was the subject of a recommended takeover offer, delivering a 2.3x cash-on-cash return and a 50.04% IRR
· Post the period end, the Company invested a further £1.25 million in Brave Bison Group plc as part of its capital raising to fund the acquisition of certain consulting businesses in ecommerce technology and paid and organic media