FOR IMMEDIATE RELEASE 26 APRIL 2002
INSENSIA GROUP PLC
(OFEX)
Business: Financial Media Group
CREATION OF NEW SUBSIDIARY – INSENSIA CAPITAL LIMITED
The Board of Insensia Group plc ("Insensia" or "the Company") is pleased to announce that it has founded a new wholly owned subsidiary, Insensia Capital Limited.
Insensia Capital Limited will take over the operation of the Group's "Unquoted Angels" service, a business angels network which has been operating as a component of the group's Unquoted.co.uk website. The change will allow the group to expand this service and be more pro-active in its marketing and execution.
Insensia Capital Limited has also made an application to the Financial Services Authority for a licence to operate as a Corporate Finance Adviser and Arranger, and this is currently being processed. This will enable the Company to take advantage of the increasing number of quality opportunities presented to the Unquoted Angels network.
Insensia Capital Limited will be headed up by Simon Lints. Simon has over 16 years experience in the corporate finance and business development arenas. Having graduated in Law from Edinburgh University he followed a career in domestic and international corporate finance with J.P. Morgan and Saudi International Bank before moving into a senior structured finance position with Clydesdale Bank PLC, part of the National Australia Bank Group. In 1998 he established Q3 Corporate Finance (Scotland), a corporate finance boutique before joining Insensia Group in early 2000.
Simon Lints, Director of Insensia Capital Limited commented, "Unquoted Angels has assisted almost 40 companies since its inception last year, including some existing OFEX and AIM-traded companies. The creation of Insensia Capital Limited allows us to provide a value-added service to these companies, rather than simply acting as a facilitator in introducing them to the investors within the network. This should make the network more attractive for both companies seeking investment and in attracting new business angels to our community."
Commenting on the new subsidiary, Alan Hutchison, Managing Director of Insensia Group plc stated, "We are delighted with this new subsidiary as it takes the Unquoted Angels initiative another major step forward. Simon brings a huge depth of experience in the corporate finance arena with him, and should help Unquoted Angels in providing an extremely valuable service to the SME community, filling a much-needed funding gap in the market, whilst providing Insensia with an opportunity to take advantage of this potentially lucrative market."
ENDS
Indicative dealing prices and news releases by Insensia Group plc are available via Ofex plc, which is in turn available through Reuters, via Ofex <Return> or OFEX01 <Return>, Thomson Financial, Bloomberg via OFEX <GO>, or via the OFEX web page at www.ofex.com.
Enquiries:
Insensia Group plc Tel 0141 572 2150
Alan Hutchison Mobile 07887 835431
Ruegg & Co Ltd Tel 020 7628 0990
Brett Miller/Joseph Marffy
Barnes and Walters Ltd Tel 020 7430 1600
Maxine Barnes Mobile 07860 489571
NOTES TO EDITORS:
The Group currently has a number of key sales channels:-
Unquoted.co.uk a portal site for investors interested in the OFEX market and unquoted companies generally
Unquoted Magazine – a full-colour printed magazine published monthly covering the OFEX and AIM markets
Unquoted Angels - a business angels network and facilitation service
Unquoted Trader - a brokerage joint venture with Jarvis Investment Management plc;
Company Eye, a London-based publishing business which produces research-based Investor Relations documents;
The "Company Eye Guide to Sources of Capital for Smaller Businesses" a printed guide, updated quarterly for small companies seeking finance (published by Company Eye);
and InsensiaWeb - a software based web content-management system.