29 January 2019 - 20:56

SPORT CAPITAL GROUP PLC STATEMENT

SPORT CAPITAL GROUP PLC STATEMENT

Sport Capital Group Plc (SCG) has received the news that there have been false and inaccurate articles issued today in Italy relating to its investment in the Palermo Football Club, and the corporate structure that has been created to finance the business.  These stories are absolutely without foundation.  For the avoidance of doubt, SCG wants to clarify again details of its structure.  To clarify:

  • Sport Capital Group Plc, listed on the Nex stock exchange in London, owns Sport Capital Group Holdings Ltd
  • Sport Capital Group Holdings Ltd owns Sport Capital Group Investments Ltd which in turn owns directly or indirectly, Palermo Football Club SpA, Mepal Srl and U.S. Città di Palermo SpA
  • The subscriber of the £15m of loan notes announced in SCG’s RNS earlier this month is Vad Option 1 Ltd, a company that brings together the financial capacity of the regulated investment fund COSMOS Sicav Plc – Value Added Fund (Value Add) managed by Abalone Asset Management Ltd, and, 25 years of private equity experience of the investment manager Dominic White. 
  • It is public information that Value Add is a shareholder in Eight Capital Partners Plc listed on the Nex stock exchange in London.
  • It is public information that Eight Capital Partners Plc is a shareholder in Sport Capital Group Plc also listed on the Nex stock exchange in London.
  • Details of the major shareholders of these public companies are fully transparent and are available on the respective web sites of the companies.
  • The company Windustries Ltd has no connection to the business of SCG or Palermo Football Club.  It is not an investor directly or indirectly in any company of the Sport Capital Group.

There is no mystery behind the acquisition and re-launch of Palermo Football Club.  The activities of SCG are transparent and will be announced as appropriate on the Regulatory News Service of the London Stock Exchange and by its Press Relations team.  The ongoing operating activities are being implemented correctly by its management team and are in the best interests of the club.

Sport Capital Group Plc fully supports its subsidiary to proceed legally against the authors of the damaging false information.

 

Sport Capital Group Plc

 

 

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