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Hamilton, Bermuda: 18^th July 2022 – In a filing with the Bermuda Stock Exchange, Shore Capital Group Limited (Ticker: SGR.BH) made the following announcement under Part B, rule 6.17 of the BSX Listing Rules:

Shore Capital Group Limited (the "Company") has an interest in 32 regional radio spectrum licences in Germany, through its 64.26 per cent. interest in Spectrum Investments Limited ("Spectrum") and in turn, Spectrum's indirect wholly owned subsidiary, Germannetworks Limited (“GNUK”). The Company's interest in the Licences, net of minorities, is currently valued at £1.38 million.  GNUK has been informed that the German Federal Network Agency intends to notify it of a revocation of the Licences. GNUK strongly rejects the grounds on which the revocation has been issued, will vigorously defend its continuing and legitimate right to the Licences and is in the process of preparing a formal appeal to the Federal Network Agency.

 

The Company will provide shareholders with a further update in due course.

 

About Shore Capital

Shore Capital is an independent investment group. Founded and majority owned by entrepreneurs, for over three decades Shore Capital has been helping entrepreneurial businesses reach their full potential, find committed long-term investors and develop into significant enterprises. The business offers innovative corporate advice; a leading market making business; some of the most respected investment research available in the UK; and a diverse range of high-quality investment opportunities, including its hugely successful VCTs and principal finance activities.

The Group is based in Guernsey, London, Liverpool, Edinburgh and Berlin. Shore Capital Stockbrokers Limited, Shore Capital and Corporate Limited, Shore Capital Limited and Puma Investment Management Limited are each authorised and regulated by the Financial Conduct Authority. Shore Capital Stockbrokers Limited is a member of the London Stock Exchange.

www.shorecap.gg

 

 

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For more information on the Bermuda Stock Exchange (BSX), contact James Best at 1-441-292-7212 or jbest@bsx.com . Information is also available at www.bsx.com and on Bloomberg at BSX.

 

Established in 1971 the Bermuda Stock Exchange (BSX) is now the leading fully electronic offshore securities market. The BSX specializes in listing and trading of capital market instruments such as equities, debt issues, funds, hedge funds, derivative warrants and Insurance Linked Securities.

 

The BSX, recognised by the US SEC as a Designated Offshore Securities Market, is a member of the World Federation of Exchanges and is located in an O.E.C.D. member nation. The BSX has Approved Stock Exchange status under Australia’s Foreign Investment Fund (FIF) taxation rules; Designated Investment Exchange status by the UK’s Financial Services Authority; Recognised Stock Exchange by the UK HM Revenue and Customs; Designated Exchange status under Canada’s Income Tax Act and is a member of America’s Central Securities Depository Association.