LONDON, UK: Milton Capital Plc (LSE:MII), a new type of special purpose acquisition company, announced its intention to apply for admission of its shares to the standard listing segment of the Official List of the FCA and to trading on the Main Market of the London Stock Exchange.

Admission is expected to take place on or around 4 October 2022 under the ticker ‘MII‘.

Highlights:

• One Price for All – All investors have come in at the same time and at the same IPO price; no Founder Shares or pre-IPO rounds; no pre-IPO warrants; no pre-IPO options.

• No Advisory/Broking Fees– The Company’s advisor and broker, Peterhouse Capital, has agreed to waive all advisory fees and commission on all funds raised at the IPO and will receive no annual retainer.

• Capped listing and on-going costs –

• Total costs for the IPO have been capped at £50,000, including all accounting, legal, PR and Exchange fees;

• Total costs for the first full year after listing also capped at £50,000.

• No ongoing director salaries – The Company’s directors will receive no salaries or consultancy fees; compensation will only be received by way of a success fee on the completion of a Reverse Takeover, approved by shareholders.

Malcolm Burne, Director of Milton, commented: “I see this shell as being a particularly exceptional opportunity because it has a transparent capital structure with no founders’ shares, minimal listing expenses, and the exclusively success-based remuneration for directors. This sets it apart from the typical cash shell and preserves cash, making it a more valuable M&A target. We now look forward to delivering a deal which will create shareholders’ value”.

The Company was formed to undertake one or more acquisitions of a majority interest in a company or business.

The directors intend to search initially for acquisition opportunities in the technology sector. The theme focus for the prospective acquisition is megatrends. This includes sectors such as space, artificial intelligence, machine learning and blockchain technology.

Megatrends are powerful, transformative forces that can change the global economy, business and society. They drive innovation and redefine business strategies and have a meaningful impact on how we live, how we spend our money and how we invest. The disrupters in particular have produced dynamic profits for early-stage shareholders.

The Company has raised £1 million before costs by means of the placing of 100,000,000 Ordinary Shares of the Company at a price of £0.01 each. The IPO costs, which amount to £55,955 have been capped at £50,000 by Peterhouse Capital and as such, post Admission, the Company will have net proceeds of £950,000. Peterhouse Capital is acting as Sole Broker in relation to the Placing.