November 2018: Admission to AIM

Manolete is pleased to announce its intention to apply for admission of its shares to trading on the AIM market of the London Stock Exchange and associated placing. Peel Hunt LLP is acting as Nominated Adviser and Sole Broker to the Company. Admission to trading is expected to occur at 8am on 14 December 2018.

Admission to AIM will enable Manolete to accelerate its growth plans via facilitating additional investment into claims and the further development of its UK network. Post Admission, the business will benefit from significant additional capital: £16 million of gross proceeds from the Placing together with an increase in the Company’s existing credit facility with HSBC, from £10 million to £20 million.

Steven Cooklin, Chief Executive Officer, commented:

“When we started in 2009 Manolete was a pioneer in the then nascent market for financing insolvency litigation claims in the UK. Since then we have built on our first mover advantage, becoming a major player in the insolvency litigation financing market, benefitting from extensive relationships with UK Insolvency Practitioners and their legal advisers.

“Our reputation is founded on our ability to source and price complex legal risk and deliver outstanding returns. Our total case ROI exceeds 200%, delivering returns to IPs that are often transformational to creditor recoveries. This alignment of insolvency creditors’ and Manolete shareholders’ interests is fundamental to the success of our business.

“This is an exciting time for the company. There is now a real opportunity to rapidly build on our achievements and I’m confident that our IPO will act as the catalyst for accelerated growth. We are greatly looking forward to life as a listed business and delivering on our plans.”

Please click here to access the full news release.

November 2018: Board Appointments

Manolete Partners Plc is delighted to announce some recent new appointments to the Board.

The Manolete Board now includes five members, comprised of two Executive Directors, Steven Cooklin and Patrick Lineen and three independent Non-Executive Directors, Dr Stephen Baister, Lee Manning and Peter Bertram who will act as Non-Executive Chairman.

Chief Executive, Steven Cooklin said, “It’s been an extremely busy and successful year for us. Our success is deeply rooted in the high quality of our staff both operationally and at Board level. It is very gratifying to be able to strengthen our Board with additional skills and this degree of qualification and experience.

“Peter Bertram is widely recognised as an extremely experienced Chairman. Lee Manning worked for Deloitte for many years and in the insolvency and recovery sector since 1989. Patrick Lineen joined Manolete in May and has immediately shown his strong financial acumen. I am very pleased to have Dr Stephen Baister join the Board given the extraordinary knowledge of the insolvency sector he gained as a Judge from 1996 until his retirement in 2017.

“We are investing in a record number of cases currently and the new Board members will be lending their considerable support and advice on our successful business strategy into the future.”

Notes for Editors.

1) Manolete Partners Plc is the leading insolvency litigation funder in the UK and was founded in 2009 by its CEO, Steven Cooklin. Manolete has been nominated for the Turnaround, Restructuring and Insolvency awards for ‘Insolvency Litigation Funder of the Year’ on all three occasions, winning in 2016 and 2017.

2) Manolete has completed investments in over 250 specialist insolvency cases completing 170. The Manolete approach is to either buy claims outright or fund Insolvency Practitioners to pursue claims, paying an amount in cash upfront, taking a share of the net proceeds but transferring all risk to us. Manolete does not use ATE – it self-insures the adverse cost risk so enabling maximum returns to Creditor Estates.

3) Manolete has worked with over 280 different Insolvency Practitioner firms across the UK. IPs use their choice of solicitor and forms a three-way partnership to achieve efficient returns for creditor estates.

4) For Board members full bios click here.

For further enquiries:

Steven Cooklin ACA ASI CF
Chief Executive
Manolete Partners PLC
T: 0203 859 3490
M: 07900 985559
Steven@manolete-partners.com

Head Office Address
Manolete Partners Plc
21 Gloucester Place,
London,
W1U 8HR