Admission to AIM and First Day of Dealings

"THIS ANNOUNCEMENT AND THE INFORMATION CONTAINED HEREIN IS RESTRICTIED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, NEW ZEALAND, THE REPUBLIC OF SOUTH AFRICA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

7 November 2024

Selkirk Group PLC

("Selkirk" or the "Company")

Admission to Trading on AIM and First Day of Dealings

Selkirk, an investing company established to acquire an undervalued company or business in the UK, is pleased to announce the admission of its ordinary shares of 0.1 pence each in the capital of the Company ("Ordinary Shares") on the London Stock Exchange's AIM Market ("AIM") ("Admission").

Key Highlights:

·      Fundraising raised gross proceeds of approximately £7.5 million.

·      Based on the issue price of 2.4p, the market capitalisation of the Company will be approximately £10 million at Admission.

·      Following Admission the Company will have 415,937,487 Ordinary Shares in issue.

·      Dealings in the Ordinary Shares will commence at 8.00 a.m. today under the ticker "AIM:SELK".

Selkirk Strategy

Selkirk has been established with the primary objective of acquiring a company or business which the directors believe is undervalued and providing it with its own quotation or listing or acquiring an existing public company and providing a highly incentivised management team with strategic direction. Many of these target companies may currently operate as subsidiaries of larger organisations, and an independent stock market quotation or listing could help unlock material value to create shareholder value. The Company is focused on acquiring a business which is headquartered in the United Kingdom. The directors intend to raise equity and/or debt finance to fund the acquisition of a target company or business, as required, and focus on enhancing shareholder value over the long term.

The Company is primarily focused on the small and mid-cap category, specifically within the consumer, technology and digital media related sectors, including retail, software and digital sub-sectors. The directors believe this underappreciated segment offers ample opportunity to identify a suitable business, whether it is a privately held company, a subsidiary of a larger listed company or an existing public company. The Company intends to prioritise innovation and strategic agility as essential drivers for unlocking hidden value and realising the full potential of target acquisitions.

The Selkirk team have a proven track record in strategic investing and working closely with the management teams and have extensive experience in identifying, evaluating, and executing opportunities; both quoted and unquoted, and creating value for stakeholders. The directors believe that Selkirk is positioned to deliver private equity style returns on the public market, utilising AIM's flexible framework to capitalise on growth opportunities.

The Company intends to methodically identify and develop opportunities as quickly and prudently as possible. With the directors' and management's extensive network and experience, the Board is confident in its ability to identify and deliver a transaction within eighteen months.

It is anticipated that returns to Selkirk shareholders will be delivered through a combination of an appreciation in the Company's share price and, if appropriate, annual dividends paid out of retained earnings (following completion of the first acquisition) as well as return of cash to shareholders following any disposal of any assets.

The Company and its directors are not currently in discussions with any specific target company regarding an acquisition.

Zeus Capital Limited ("Zeus") is acting as Nominated Adviser and Sole Broker to the Company in relation to the Admission.

Iain McDonald, Executive Chair, Selkirk, said:

"We believe that some of the most promising and undervalued companies are hidden within UK-listed conglomerates and our goal is to unlock the potential of such businesses in the technology, consumer, or digital media sectors. We have assembled an experienced management team and board, which we plan to expand and deepen further when we identify a target.

"We are delighted to have completed our admission to AIM and I would like to thank and welcome our new and existing shareholders. We have chosen to IPO on AIM because, despite the prevailing negative narrative, AIM is still a very attractive market for small, fast-growing companies. We are confident in our ability to deliver on the opportunities ahead and I look forward to providing updates on our progress as our business develops."

ENDS

For further information please contact:

Notes to Editors

Selkirk Group Plc is an investing company established with the primary objective of acquiring a company or business which the directors believe is undervalued and providing it with a quotation or listing or acquiring an existing public company and providing a highly incentivized management team with strategic direction. The Company is focused on acquiring a business which is headquartered in the United Kingdom. The directors have extensive experience in identifying, evaluating, and executing opportunities; both quoted and unquoted, and creating value for stakeholders. To find out more visit: www.selkirkplc.com.

IMPORTANT NOTICES:

This announcement does not constitute or form part of any offer for sale or subscription or any solicitation of any offer to buy or subscribe for any securities and neither this announcement nor any part of it forms the basis of or may be relied on in connection with or act as an inducement to enter into any contract or commitment whatsoever.

The information contained in this announcement is for background purposes only and does not purport to be full or complete, nor does this announcement constitute or form part of any invitation or inducement to engage in investment activity. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. The contents of this announcement are not to be construed as legal, financial or tax or other advice or takes into account the particular investment objectives, financial situation, taxation position or needs of any person.

Recipients of this announcement who intend to purchase or subscribe for shares in Company are reminded that such purchase or subscription should be made solely on the basis of the information contained in the Admission Document published by the Company which is available at www.selkirkplc.com (subject to certain access restrictions).

This announcement is not for publication, release or distribution, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any state of the United States and the District of Columbia), Australia, Canada, Japan, Republic of South Africa or New Zealand or any other state or jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The distribution of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. This announcement and the information contained herein is not intended to and does not contain or constitute an offer of, or the solicitation of an offer to buy or subscribe for, securities to any person in the United States, Australia, Canada, Japan, the Republic of South Africa or New Zealand or any other state or jurisdiction in which such an offer would be unlawful.

The Ordinary Shares have not been and will not be registered under the US Securities Act, or under the securities laws of any state or other jurisdiction of the United States, and may not be offered or sold, directly or indirectly, in the United States or to, or for the account or benefit of, US persons (as defined in Regulation S under the US Securities Act of 1933, as amended (the "US Securities Act")) absent registration except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the US Securities Act and otherwise in accordance with any applicable securities laws of any state or other jurisdiction of the United States. There will be no offering of the Ordinary Shares in the United States.

This announcement contains statements that are, or may be deemed to be, "forward-looking statements". These forward-looking statements involve known and unknown risks and uncertainties, many of which are beyond the Group's control and all of which are based on the Directors' current beliefs and expectations about future events. In some cases, these forward-looking statements can be identified by the use of forward-looking terminology, including, without limitation, the terms "anticipates", "believes", "could", "envisages", "estimates", "expects", "intends", "may", "plans", "projects", "should", "will" or, in each case, their negative or other variations or comparable terminology. These forward-looking statements relate to matters that are not historical facts. They include statements regarding the intentions, beliefs and current expectations of the Company or the Directors concerning, amongst other things, the results of operations, financial condition, liquidity, prospects, growth and strategies of the Company and the industry in which the Group operates. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. Forward-looking statements are not guarantees of future performance. The actual results, performance or achievements of the Company or developments in the industry in which the Group operates may differ materially from the future results, performance or achievements or industry developments expressed or implied by the forward-looking statements contained in this announcement.

These forward-looking statements and other statements contained in this announcement regarding matters that are not historical facts involve predictions. No assurance can be given that such future results will be achieved; actual events or results may differ materially as a result of risks and uncertainties facing the Group. Such risks and uncertainties could cause actual results to vary materially from the future results indicated, expressed or implied in such forward-looking statements.

Each of the Company and Zeus, and their respective affiliates, expressly disclaims any obligation or undertaking to update, review or revise any forward-looking statements contained in this announcement and disclaims any obligation to update its view of any risks or uncertainties described herein or to publicly announce the results of any revisions to the forward-looking statements made in this announcement, whether as a result of new information, future developments or otherwise, except as required by law.

Certain figures contained in this announcement, including financial information, have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this announcement may not conform exactly with the total figure given.

This announcement does not constitute a recommendation concerning Admission or the Ordinary Shares. The value of Ordinary Shares and the income from them is not guaranteed and can fall as well as rise due to stock market and currency movements. On any sale of an investment an investor may get back less than he or she originally invested. Potential investors should consult a professional adviser as to the suitability of the Ordinary Shares for the person concerned before making any investment decision. Past performance cannot be relied upon as a guide to future performance.

Neither Zeus, nor any of its affiliates, their respective directors, officers or employees, advisers, agents or any other person accepts any responsibility or liability whatsoever for the contents of, or makes any representations or warranties, express or implied, as to the accuracy, fairness or completeness of the information presented or contained in this announcement (or whether any information has been omitted from this announcement) or any other information relating to the Company, its subsidiaries and their associated companies, whether written, oral or in a visual or electronic form, and howsoever transmitted or made available or for any loss howsoever arising from any use of this announcement or its contents or otherwise arising in connection therewith. Accordingly, Zeus, its affiliates, their respective directors, officers or employees, and any other person acting on their behalf expressly disclaims, to the fullest extent possible, any and all liability whatsoever for any loss howsoever arising from, or in reliance upon, the whole or any part of the contents of this announcement, whether in tort, contract or otherwise which they might otherwise have in respect of this announcement or its contents or otherwise arising in connection therewith.

Zeus, which is authorised and regulated by the FCA in the United Kingdom, is acting exclusively for the Company and no-one else in connection with the possible Admission. Zeus will not regard any other person as its client in relation to the possible Admission and will not be responsible to anyone other than the Company for providing the protections afforded to its clients, nor for providing advice in relation to the possible Admission, the contents of this announcement or any transaction, arrangement or other matter referred to herein.

For the avoidance of doubt, the contents of the Company's website and any links available from the Company's website are not incorporated by reference into, and do not form part of, this announcement.