StockMarketWire.com - Mattioli Woods' acquisition of Maven Capital Partners UK LLP has completed, the company said.

Pursuant to the terms of the Maven Acquisition, the company has allotted 4,545,455 new Ordinary Shares in Mattioli Woods to the sellers of Maven.

Application has been made for the admission of the Maven Consideration Shares to trading on AIM. Admission of the Maven Consideration Shares, which, when issued, will rank pari passu in all respects with the existing Ordinary Shares, is expected to become effective at 8.00 am on 6 July 2021.

The sellers of Maven have entered into lock-in agreements, pursuant to which the Maven Consideration Shares will be subject to a 12-month lock-in period following completion of the Maven Acquisition.

Following the initial 12-month lock-in period, the sellers of Maven will be released from the lock-in in respect of, and become free to dispose of, 25 per cent of the Maven Consideration Shares in each of the three years following the first anniversary of completion of the Maven Acquisiton.

Ian Mattioli MBE, CEO of Mattioli Woods, said: 'The acquisition of Maven enhances our investment proposition and product range and adds opportunities to widen distribution of the enlarged Group's products and services.

'The team at Maven share our passion for delivering exceptional client outcomes and going the extra mile, and we look forward to welcoming them into the Mattioli Woods group.'


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