Investee Company Update – LEBC Holdings
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Investee Company Update - Completion of disposal by LEBC Holdings Limited of Aspira Corporate Solutions Limited
B.P. Marsh & Partners Plc (AIM:BPM), the specialist private equity investor in early stage financial services businesses, is pleased to announce that, further to the Company's announcement on 13 November 2023, LEBC Holdings Limited ("LEBC") has completed the sale of 100% of Aspira Corporate Solutions Limited, a wholly-owned subsidiary of LEBC, to Titan Wealth Holdings Limited, the discretionary fund management/wealth and asset management business. Completion follows receipt of regulatory approval.
The Group received full repayment of its £3.3m loans to LEBC immediately after completion. As previously stated, LEBC will receive proceeds of sale over a three year earn-out period. The Group expects to receive at least £15,947,000 in line with the Company's most recent published valuation of LEBC as at 31 July 2023.
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