Friday 16th March 2007

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High Road for PLUS

High Road Capital (HRC) has floated on PLUS Markets. The investment vehicle raised £418,150 by placing about 41.8 million shares at 1p each.

HRC now has some 71.8 million shares in issue. It is led by chairman Adam Wilson and non-executive director Gavin Burnell, who owns a 4.17 per cent stake in the company.

Sunvest Corporation holds a 29.9 per cent stake in HRC, comprising 21.5 million shares. Hichens, Harrison (Ventures), which owns a 23.6 per cent stake, is owned by Wilson. Burnell has an 11.5 per cent stake in Ruegg & Co, which owns 4 million shares in HRC and is the company's corporate adviser.

London-based HRC will focus on the financial sector in the UK and the renewable energy sector worldwide. The company is also looking to make a reverse takeover.

HRC had total assets worth £50,000 and equity of £50,000 as at 24 January 2007.

The company’s market makers are Winterflood Securities and KBC Peel Hunt.

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