Pegg Capital AG
Pegg Capital AG: PEGG ANNOUNCES NEW INVESTMENT CO. FORMATION
Pegg Capital AG / Miscellaneous 01.04.2010 12:10 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. --------------------------------------------------------------------------- PEGG CAPITAL AG, Deutsche Bourse Stock Code 'PGU', (PEGG) PEGG ANNOUNCES NEW INVESTMENT CO. FORMATION TECHMANX LIMITED PEGG is pleased to announce that the Company has incorporated a new Isle of Man based technology investment company TECHMANX LIMITED. PEGG HAS AGREED TO FORM AND FUND THIS NEW ADDITIONAL INVESTMENT VEHICLE IN ITS PORTFOLIO OF COMPANIES FOLLOWING ENCOURAGMENT FROM THE ISLE OF MAN GOVERNMENT AND INVESTMENT COMMUNITY TO FURTHER THE SECTOR SPECIFIC GROWTH OBJECTIVES OF THE ISLE OF MAN GOVERNMENT IN ATTRACTING QUALITY GLOBAL E-BUSINESS MIGRATION TO THE ISLAND. PEGG enjoys an excellent working relationship with The Isle of Man Government, which has been very supportive of THE GROUPS developments in this internationally respected favourable tax domicile. TECHMANX LIMITED IS A WHOLLY OWNED SUBSIDIARY OF PEGG HOLDINGS IOM LIMITED, WHICH IN TURN IS A WHOLLY OWNED SUBSIDIARY OF PEGG CAPITAL AG, AND IS THE 1ST DOMICILED E-BUSINESS INVESTMENT FIRM TO BE BASED ON THE ISLAND. COMMENTING ON TECHMANX FORMATION, TIM CRAINE, DIRECTOR OF E-BUSINESS & SPACE COMMERCE FOR THE ISLE OF MAN GOVERNMENT STATED.. 'This really is a great development for the Island and I am delighted that pegg chose the isle of man as the base for this exciting new venture. the island has been steadily developing and broadening the range of benefits it can offer to businesses such as techmanx and I'm sure that the arrival of techmanx will further help to raise the island's profile and what we can offer to the e-business sector. i look forward to working with all those involved to deliver success for both the company and the island' DAVID DANIEL GROUP MANAGING DIRECTOR OF PEGG COMMENTS.THIS IS A FANTASTIC DEVELOPMENT FOR BOTH PEGG AND THE ISLE OF MAN. WE ARE PROUD TO HAVE LOCATED SO MANY OF OUR COMPANIES AND INVESTEE COMPANIES HERE TO GREAT ADVANTAGE OVER THE PAST YEAR. THE INFRASTRUCTURE AND SUPPORT THE ISLE OF MAN PROVIDES FOR E-BUSINESS IS TRULY WORLD CLASS. TECHMANX WILL INVEST IN HIGH QUALITY HIGH GROWTH E-BUSINESS PROJECTS BRINGING FURTHER DIRECT ECONOMIC BENEFIT TO OUR SHAREHOLDERS AND THE ISLE OF MAN. ABOUT THE ISLE OF MAN AND E-BUSINESS PROVIDES A RANGE OF GRANTS UP TO 40% OF RE LOCATION AND ESTABLISHMENT COSTS FOR E-BUSINESS MIGRATION TO ISLE OF MAN. PROVIDES WORLD CLASS INFRASTRUCTURE AND CONNECTIVITY About PEGG Capital AG. WWW.PEGGCAPITAL.COM (PEGG) is a Corporate Advisory, Commercialisation and INVESTMENT Capital Group specific to the ICT & Technology sectors. PEGG partners and PEGG Alliance Partners, cover a broad range of commercial deliverables focussed on delivering innovation projects to commercial reality through funding support and hands on assistance to our investee firms. PEGG CAPITALAG is the listed private equity arm of The PEGG Group, listed on the Deutsche Bourse, STOCK CODE: 'PGU' PEGG Capital AG has a direct presence in The Isle of Man, London, Cologne Germany & Melbourne Australia, AND AN ASSOCIATE PRESENCE IN NEW YORK, SAN FRANCISCO, AND BEIJING CHINA Enquiries PEGG: David Daniel, Group Managing Director: +447624350484, davidd@peggeu.com Guy Winterflood: Chief CoRP. Advisor: + 44 7747608239, gwinterflood@me.com Isle of man government TIM CRAINE, DIRECTOR OF E-BUSINESS & SPACE COMMERCE,TIM.CRAINE@GOV.IM 01.04.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP. Media archive at www.dgap-medientreff.de and www.dgap.de ---------------------------------------------------------------------------
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