Replacement
Freetrade Exit and Share Repurchase Programme
- Freetrade exit generates £20.4m, revised from £22.7m.
- Molten's stake valued 17% above Sept 2024 holding.
- £5m share repurchase program to commence soon.
Molten Ventures Plc (GROW; GRW) The following amendments have been made to the 'Freetrade Exit and Share Repurchase Programme' announcement released on 16 January 2025 at 10.05am under EQS News ID: 2069201. |
The Freetrade exit will generate proceeds of £20.4m to Molten Ventures plc. The previous announcement anticipated proceeds of £22.7m, the announcement has therefore been corrected to reflect the exit values Molten Ventures plc’s stake at 17% above the 30 September 2024 holding value of £17m, delivering a multiple on invested capital of 1.5x.
All other details remain unchanged. The full amended text is shown below.
Molten Ventures plc
("Molten Ventures", "Molten", "the "Group" or the "Company")
Freetrade Exit and Share Repurchase Programme
Molten Ventures (LSE: GROW, Euronext Dublin: GRW), a leading venture capital firm investing in and developing high-growth digital technology businesses, today announces that Freetrade, the fast-growing, commission free self-directed investment platform, has agreed terms to be acquired by the FTSE 250 company IG Group (LSE: IGG) which provides online trading platforms and educational resources around the globe.
Molten first invested in Freetrade in the Series A in 2019. This deal values Molten's stake 17% above the 30 September 2024 holding value of £17 million and will deliver a 1.5x multiple on invested capital. Completion is subject to regulatory approvals, with proceeds currently expected in mid-2025.
Including the anticipated proceeds from this transaction, the Group's realisations during the current financial year now stand at over £150 million, subject to regulatory approval, exceeding the original guidance given of £100 million. These realisations have delivered on average a 2.5x multiple on invested capital providing further validation for Molten's valuation process, investment approach and active portfolio management. Molten will continue to deploy proceeds from realisations into exceptional primary and secondary investments.