Marechale Capital Shares Rise on Share Subscription With Luke Johnson

By Ian Walker

Shares of Marechale Capital PLC rose as much as 38% in early trade Tuesday after the company said that it has raised 160,000 pounds ($217,728) via a share subscription which will provide it with working capital towards investment opportunities.

The corporate-finance company said it has issued 8 million new ordinary shares to Luke Johnson at 2 pence each. The issue price is a 2.6% premium to Monday’s closing price of 1.95 pence.
Following the subscription Mr. Johnson will own 9.04% of the company’s issued share capital and will be entitled to join the board, subject to regulatory approval.
“The directors of Marechale Capital are delighted he [Mr. Johnson] has become a major long term shareholder and we look forward to working with him particularly where he can help with deal flow and investments for our current and future pipeline of growth capital clients,” Chief Executive Patrick Booth-Clibborn said.
Mr. Johnson has previously been chairman of Channel 4 Television and PizzaExpress.
Shares at 0711 GMT were up 0.45 pence, or 23%, at 2.40 pence, having peaked at 2.70 pence earlier in the session.
Write to Ian Walker at ian.walker@wsj.com