News Column

Broca Shares Up As It Convenes Meeting To Approve Reverse Takeover

July 28, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Shares in Broca were trading up almost a third Monday after it resumed trading on AIM and said it was convening an annual general meeting August 12 to approve the reverse takeover of MXC Capital Advisory LLP.

Shareholders will be called on to approve the reverse takeover, the placing of 850.0 million shares at 1 pence per share, and the change in its name to MXC Capital PLC.

Shares in Broca were trading up 29% at 1.90 pence Monday morning.

MXC Capital Advisory is a specialist technology corporate finance advisory business which is authorised and regulated by the UK Financial Conduct Authority and owned by MXC Capital.

Broca said that if the placing and acquisition complete, it will seek to generate shareholder returns by providing corporate finance advisory services to grow businesses in which it makes investments.

It will primarily focus on the technology, media and telecoms sector.

"The TMT space is evolving all the time, presenting new opportunities for our model, which we believe is special to MXC: we bring a deep knowledge of technology, experience of managing companies in the sector and now an enhanced ability to make meaningful investments, all of which we will combine to grow shareholder value," said Broca Chairman Ian Smith in a statement.

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Source: Alliance News

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