MCC Global Signs Letter of Intent to Acquire Omagis Ltd. an International Financial Services Firm
Company to be Renamed "MCC Omagis" Following Closing New Members of a Restructured Management Team Added
MCC Global N.V. ("MCC" or the "Company") (Frankfurt: IFQ2), the global private equity investment and advisory company, today announced that it has signed a letter of intent to acquire Omagis Limited, an international financial services firm ("Omagis"). Omagis is a diversified international financial services firm that provides managed markets, brokerage, corporate finance, investment banking, Islamic finance, and wealth management services to individual and institutional clients across the world.
Closing of the acquisition is subject to certain conditions, including additional due diligence and various regulatory approvals. Following the closing, the Company will be renamed "MCC Omagis" and Phillip Cook, the Chief Executive Officer of Omagis, will assume the role of the Company's Chief Executive Officer. Kenneth Denos will become head of the Company's fund management group.
The Company will issue secured convertible redeemable preference shares to the shareholders of Omagis. These preferred shares will be convertible into ordinary shares of the Company in the event of the realization of certain revenues and the satisfaction of various legacy liabilities of MCC. The acquisition of Omagis will constitute a reverse takeover of MCC, inasmuch as the preferred shares, if converted, will result in the issuance of 5,550,000,000 new ordinary shares of the Company to the Omagis shareholders.
In addition to existing and pending financial advisory assignments of Omagis, the acquisition will also bring the Company additional operational infrastructure in Europe, the United States, and the Gulf States region, an injection of a significant increase in working capital and assets, as well as additional funds under management to add to the Company's existing fund management platform through which it manages Equus Total Return, Inc. (NYSE: EQS), a New York Stock Exchange listed closed-end fund.
Omagis is currently establishing offices in Dubai, Kuwait and Bahrain. Sharon Clayton of MCC, who has spearheaded MCC Global's Gulf-State presence for the last five years, will take over as Head of the combined company's activities in the GCC region.
Tony Moore, Chairman of the MCC Supervisory Board, stated: "We are delighted to add the expertise and resources of Omagis to our company. The combination of MCC and Omagis will provide needed infrastructure and execution resources, as well as senior management with considerable international experience. In addition, the expansion of our presence in Europe, the Gulf States, and the additional funds under management will enable the combined companies to gain efficiencies and grow much faster than would have otherwise been possible as stand-alone companies."
Phillip Cook, the Chief Executive Officer of Omagis commented: "We believe that the combination of our two companies will allow the full realization and potential of our business strategies to be delivered more efficiently and profitably and will allow management and the united staff to focus on their combined strengths. In today's challenging climate we look forward to a successful future partnership with our new colleagues from MCC Global."
About MCC Global
MCC Global NV is a global private equity investment and advisory company specializing in providing strategic and financial advisory and investment services to emerging and established companies in specific industry sectors such as healthcare, energy renewables, media, real estate, and hospitality and lifestyle. MCC Global NV (www.mccglobal.com) is listed on the Frankfurt Stock Exchange Geregelter Markt (General Standard), ticker IFQ2.
About Omagis
Omagis Ltd is a Gibraltar Holding Company with a number of wholly-owned subsidiaries active in the UK, Europe and the Middle East. The focus of the business is in delivering innovative financial solutions for high net worth individuals, institutions and companies. Particular emphasis is given to Corporate Finance and Wealth Management Solutions.
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon current expectations and assumptions of MCC Global N.V. (the "Company") and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Company's most recently filed prospectus and other public filings. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Company undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Company or any other person that the events or circumstances described in such statements are material.
Enquiries:
MCC Global
Mary Foster, Shareholder Services
Email: ir@mccglobal.com
Omagis
Katie Tzouliadis, Biddicks
Email: katie.tzouliadis@biddicks.co.uk
Middle East Business Forum
Reza Adil, Biddicks
Email: reza@middleeastbusinessforum.com |
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