Phoenician Corporation V Ltd is a company formed with the intention of becoming a vehicle for investment in Asian Active businesses, particularly in key sectors of agriculture and consumer staples, infrastructure, industrial and service related companies; that collectively such investments if owned by the Company may command a higher valuation than they would if they remained independent. It is the intention of the Company to effect an acquisition or sign a letter of intent, agreement in principle or definitive agreement for an acquisition within 12 months following admission.

 

Phoenician Corporation V Limited was listed on the PLUS Markets Group in London on January 20, 2009. Company's overview is available on Plus Markets website.

 

Corporate Info:

 

Current Directors:

Jason R. Futko, CA - Chairman

Lisa M. Lee, CA - Finance Director

Edwin S. Lee, CA - Non-executive Director

Spencer J. Wilson - Non-executive Director

 

Company Secretary

City & Westminster Consultants LLP

2nd Floor, Stanmore House

29-30 St. James's Street

London SW1A 1HB

United Kingdom

 

Registered Office

Second Floor, Olde Towne Marina

Sandy Port, West Bay Street

P. O. Box N 4825

Nassau, Bahamas

 

Corporate Adviser

City & Westminster Corporate Finance LLP

2nd Floor, Stanmore House

29-30 St. James's Street

London SW1A 1HB

United Kingdom

 

Auditors and Reporting Accountants

Littlejohn

1Westferry Circus

Canary Wharf

London E14 4HD, United Kingdom

 

Legal Advisers to the Company

Spring Law

40 Craven Street

London WC2N 5NG, United Kingdom

 

Bahamian Legal Advisor

King & Co.

Second Floor, Olde Towne Marina

Sandy Port, West Bay Street

P. O. Box N 4825

Nassau, The Bahamas

 

Branch Registrar

Computershare Investor Services (Channel Islands) Ltd

31 Pier Road

St. Helier

Jersey JE4 8PW

Channel Islands

 

Depositary

Computershare Investor Services plc

The Pavilions

Bridgwater Road

Bristol

B599 6ZY, United Kingdom

 

Bankers

Standard Chartered Bank

PO Box 2222

Sheikh Zayed Road

Dubai, United Arab Emirates

 

 

Principal Activity and Investment Strategy

The Directors believe that significant opportunity exists to invest by acquiring the whole or part of Asian Active Businesses engaged in key sectors of agriculture and consumer staples, infrastructure, industrial and service related companies and that collectively such investments, if owned by the Company, may command a higher valuation than they would if they remained independent.

 

The Directors, collectively, have many years of experience in investment in a wide variety of business activities, including but not limited to Asian businesses, and intend to utilise their worldwide and Asian contacts in the industry to identify and actively pursue the acquisition of the whole or part of Asian Active Businesses. The Directors believe that this strategy may potentially derive superior market multiples and investor returns.

 

Initial due diligence on potential acquisition targets will be carried out by the Directors. Once a suitable acquisition has been targeted, the Company will retain one or more firms of professional advisers in respect of financial and legal due diligence, along with such other firms of professional advisers as will be appropriate and as the Board deems necessary.

 

The Investment Opportunity

The Directors believe that Asian Active Businesses engaged in key sectors of agriculture and consumer staples, infrastructure, industrial and service relate companies offer material opportunities for growth.

 

It is the intention of the Company to effect an acquisition or sign a letter of intent, agreement in principle or definitive agreement for an acquisition within 12 months following admission to PLUS.

 

Investment Criteria

The Company intends to acquire either the whole or part of suitable Asian Active Businesses (the "targets" or singularly, the "target"). The Company, where and when appropriate and permitted, will seek board representation on each target in which the Company is an investor. As such, the company will be a pro-active investor and will seek, to the extent permitted by all applicable laws, to control and operate an acquisition target. Acquisition of targets is not intended to be financed solely through the proceeds gained from investors subscriptions, but may be financed through a further issuance of Class A Shares or through the issuance of Class B Shares. This will mean that existing Class A Share investors may be substantially diluted as the Company acquires targets. If Class B Shares are issued, Class A investors will suffer dilution in respect of dividends but not in respect of voting rights. Class B Shares are not admitted to PLUS or any other regulated exchange and the directors do not intend to seek their admission in the foreseeable future. At the point of the first acquisition, the Company will cease to be a cash shell and will operate as a trading company.

 

The first acquisition by the Company may be considered to be treated as a Reverse Takeover under the PLUS Rules. If so, it is expected to include the preparation and issuance of a circular to shareholders and an admission document in relation to the re-admission of the enlarged share capital to PLUS.

 

Prospects

The Directors have identified a number of potential acquisition targets. The Directors believe that the introduction and the admission of the Company's Class A Shares to PLUS will give the Company sufficient credibility to effect an acquisition.