Travers Smith and Maples and Calder acted for Literacy Capital plc on the matter.
The Fund is a closed-end investment company focused on investing in and supporting UK businesses and helping their management teams to achieve long-term success. It is also unique in that it is the only investment fund of its type to have been set up with a charitable objective. The Fund makes an annual donation equating to 0.9% of its net asset value each year with the aim of advancing education of children in the United Kingdom, in particular by promoting or supporting the development of literacy. Bookmark Reading Charity has benefited from the support of the Fund and has utilised that support in the development of a scalable technology solution to match community settings with reading helpers who support children struggling with literacy.
Admission to trading on the specialist funds segment of the Official List took place on 25 June 2021.
The Travers Smith team was led by Funds Partner Will Normand (Picture) and also included Funds Associate Jake Fleming and Tax Partner Elena Rowlands.
The Maples and Calder team included Jonathan Caulton, London-based Finance Partner and Ana Lazgare, Finance Associate.
Clients: Literacy Capital;