TWo Minutes to Midnight Emergency Business Funding

We are pleased to announce the launch of our new, wholly owned, subsidiary company – Two Minutes To Midnight Limited (“TM²”):

TM² is our dedicated Rescue and Administration Financing business. The business plan for TM² is Manolete Group’s reaction to the general lack of financing options available to companies in their ultimate moments of maximum distress – hence “Two Minutes To Midnight”.

All too often Directors and Recovery/Turnaround advisers have little or no options available to them to save their companies due to the paucity of financing options available in the marketplace. This has led to a sharp decline in the number of trading administrations and, in some instances, to an increase in controversial “Pre-Pack” or “Phoenix” transactions.

Just like we have done in the insolvency litigation market through Manolete Partners, we want TM² to give Rescue and Recovery professionals better tools and more options to create and deliver value to company shareholders, creditors, employees and other related stakeholders. Money buys time and money therefore can buy value.

Thanks to the support of our blue-chip shareholder base, we are today able to announce that we have earmarked an initial £10m to the TM² business. £10m is very much the start point and we are in discussions with a number of shareholders and financing partners to extend the reach of the TM² business much further, very quickly.

The core focus of TM² will be the small and mid-market companies where we will be aiming to supply rescue and administration financing from £50,000 to £1million. However, given the size of our shareholders, there is no pre-determined upper limit to the financing proposals that we will consider.

We look forward to extending our strong relationships with the Rescue and Recovery Profession in this exciting new area.

Steven Cooklin
Chief Executive
Tel: 01494 618520

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