Market Tech Holdings Limited is a Guernsey-based holding company. The Company, through its subsidiaries, combines real estate assets with an e-commerce business operated through an online platform called market.com. Its real estate assets business is focused on retail, leisure and entertainment. The Company owns approximately 11 acres of real estate assets in Camden, including various markets located in Camden Town, Hawley Wharf (also known as Camden Lock Village), Union Street Market (also known as Buck St Market or Camden Market) and Camden Lock Market. The Company also owns separate real estate assets on Camden High Street, Jamestown Road and Kentish Town Road.

Market Tech Holdings, which is backed by Israeli billionaire Teddy Sagi
Sagi steered Market Tech to AIM after buying the Camden Stables Market site for 400 million pounds in March and Camden Lock Market for 100 million pounds in October.
This will be Sagi’s third London IPO this year, with SafeCharge and Crossrider currently trading above their issue prices.

Expected first date of trading: 22/12/2014
Market: AIM

Contract Announcement
RNS
RNS Number : 3743J
Market Tech Holdings Limited
07 April 2015

Market Tech Holdings Limited



("Market Tech", "the Company" or "the Group")



Market Tech announces three key contracts for Camden Markets

Market Tech, the holding company that combines iconic real estate assets with an e-commerce business and owns and manages the main Camden Markets in Central London, today announced three significant contractual appointments as progress on the Camden Markets moves forward apace.

Mace, a leading independently owned international consultancy and construction company with considerable experience in the capital including constructing The Shard, has been selected to oversee the redevelopment of Camden Lock Village (also known as Hawley Wharf). The contract will see the delivery of over 170 new private and affordable homes, retail and market spaces, around 9,175 sq m of employment space and high quality public realm.

Market Tech have also announced that specialist contractor McLaughlin & Harvey will build the infant and junior primary school and nursery as part of the Camden Lock Village development. The school will be the first part of the scheme to be delivered and is expected to open at the start of the academic year in September 2016.

Mark Alper, UK Group Property Director for Market Tech said today:

"We are delighted to have appointed two very experienced, high quality contractors to deliver Camden Lock Village. It is an exciting time for us to start seeing the delivery of our vision - a new school for the community, much needed homes, new shops and of course some market space, alongside significant improvements to the canalside. Both Mace and McLaughlin & Harvey recognise the importance of this project to us, to the local communities and to Camden. We will all seek to deliver this project to a high standard."

Charles Butler, CEO of Market Tech said today:

"This is another milestone for Market Tech in delivering Camden Lock Village. Camden Lock Village is a truly unique development and will become a landmark destination."

Chief Operating Officer for Construction at Mace, Gareth Lewis, said:

"This is a fantastic win for Mace to rejuvenate one of London's favourite visitor destinations and deliver an iconic project for the capital. We have a strong track record for the delivery of cultural projects in London including the British Museum's World Conservation and Exhibition Centre, the Tate Modern and the London Eye. Mace was based in Camden for much of the past 25 years and we have great affection for and knowledge of the area. We're therefore delighted to have this opportunity to bring our residential expertise and focus on innovation and high-class delivery to the benefit of the local communities."

At the same time as announcing the contractors for Camden Lock Village, Market Tech have also announced the appointment of Piercy&Company as the architects to take forward a planning application for Camden Lock Market. Acquired in the autumn of 2014, the iconic Camden Lock Market comprises a mix of market stalls, shops and restaurants, and is known for its quality retailers.

Stuart Piercy said today:

"We are extremely proud to be involved with the evolution of Camden Lock Market. As a practice based in Camden we are passionate about both the rich heritage and contemporary culture the markets bring to London."

Acquisition
RNS
RNS Number : 9672J
Market Tech Holdings Limited
13 April 2015

Market Tech Holdings Limited



("Market Tech," "the Company" or "the Group")





Acquisition of Multi-Let Office Complex



New £50 million acquisition facility agreed



Market Tech Holdings Limited (AIM: MKT), the holding company that combines iconic real estate assets with an e-commerce business and owns and manages the main Camden Markets in Central London, is pleased to announce that it has exchanged contracts to acquire a 0.84 acre property, hosting small businesses, for a total consideration of £44 million, comprised of a £42 million purchase price and £2 million stamp duty.



The property, known as Utopia Village in Chalcot Road, London, NW1, is located close to the Group's principal Camden Markets site and currently comprises 29 individual units totalling a net internal area of approximately 44,500 square feet



The Property has development potential however the Group plans to operate the complex primarily as a fully serviced co-working office environment where businesses can rent flexible accommodation with access to Market Tech's e-commerce and business infrastructure, enabling the Group to accelerate its growth plans while benefiting Camden and the surrounding area.



Co-working is an increasingly popular style of work in a shared environment where like-minded entrepreneurs benefit from a beneficial collaborative working culture. A co-working community is particularly attractive to start-ups in new technology, fashion, design, brand and other creative industries. The Camden area has a long tradition of creating and nurturing bright new entrepreneurs in creative industries and the Group is committed to reinvigorating and expanding this legacy through the delivery of a unique all-embracing retail, e-commerce, leisure and cultural hub.



The Group is currently developing similar facilities at its main Camden Markets site and Utopia Village is intended to add further capacity.



The total consideration is to be paid in cash with completion set for 16 April 2015.



Charles Butler, Market Tech Chief Executive Officer, said:



"As with our recent transactions, we are establishing the foundations to support our strategy to reinvigorate Camden Market and its surrounding area - bringing the Markets to a wider global audience and creating an environment where bright new entrepreneurs can grow innovative businesses. The acquired site extends the Group's estate and will be complementary to our offering as a full service solution provider for businesses, which when combined with similar facilities in Camden will in total create co-working space for in excess of 1,500 people. This is a key element of our strategy to create a world class living, working, retail and leisure destination"





New acquisition loan facility - related party transaction



The Group intends to fund the acquisition and development of Utopia Village from existing cash resources but at the same time has entered into a new acquisition loan facility ("the Facility") with Citwax Investments Limited ("Citwax"), the majority shareholder of the Company (and therefore a related party). The Facility is for an unsecured loan of £50 million to provide finance, if requested by the Company, in relation to the acquisition. The Facility is on substantially equivalent terms to, and is in addition to, the Company's existing facilities with Citwax being the working capital facility entered into at the time of the Company's IPO and the acquisition facility entered into on 27 February 2015 (as subsequently amended on 24 March 2015). The Facility has a fixed interest rate of 4% per annum payable quarterly in arrears and is available to draw down until 31 July 2015. The Facility is repayable within three years however can be repaid early by the Company free of any interest penalty.



The directors of the Company consider, having consulted with its nominated adviser, that the terms of the Facility are fair and reasonable insofar as the Company's shareholders are concerned



- Ends -

Completion of Acquisition
RNS
RNS Number : 4861K
Market Tech Holdings Limited
16 April 2015





Market Tech Holdings Limited



Completion of Acquisition



Further to the announcement on 13 April 2015, Market Tech Holdings Limited (AIM: MKT), is pleased to announce the completion of the acquisition of Utopia Village.





- ends -

Strategic Acquisition
RNS
RNS Number : 4479M
Market Tech Holdings Limited
07 May 2015

Market Tech Holdings Limited



("Market Tech," the "Company" or the "Group")





Acquisition of innovative e-commerce marketing platform





Market Tech (AIM: MKT), the holding company that combines iconic real estate assets with an e-commerce business, announces that it has acquired Stucco Media Limited ("StuccoMedia"), a leading e-commerce marketing platform with global reach, for a total consideration of up to US$34.5 million, subject to a post-closing working capital adjustment.



The business is being acquired from Guy Weiss, Itay Itzhaki and others, (together, the "Vendors") who are entitled to a further aggregate payment of US$8.5 million details of which are set out below. Guy and Itay, who between them owned approx. 80 per cent. of StuccoMedia, founded the business three years ago and have built a strong team consisting of PhD physicists and highly skilled engineers and developers.



StuccoMedia operates an innovative and cost-effective algorithmic e-commerce marketplace technology for online retailers, for international marketplaces such as eBay and Amazon. The StuccoMedia business model enables it to expand into different territories with minimal capital expenditure and is focused on delivering a global marketplace technology offering. The company enables its global client base to increase traffic volumes and sales, ultimately enhancing their return on investment. Through proprietary algorithms StuccoMedia is able to fully automate its clients' advertising, selecting products that are more likely to appeal to their customers, based on prior online behaviour.



The business has grown rapidly over the last three years and has generated in aggregate US$100 million in sales for a number of online market places between October 2014 and March 2015. In the 2014 financial year, StuccoMedia achieved audited revenues and EBITDA of US$6.1 million and US$0.82 million respectively. During the first quarter of 2015, StuccoMedia's total revenue was in line with total revenue for the full year ended 31 December 2014. StuccoMedia's EBITDA for the first quarter of 2015 exceeded EBITDA for the full year ended 31 December 2014.



This highly complementary acquisition represents a significant strategic addition to the Group's online capabilities which, when combined with Market Tech's online assets in mobile marketing and CRM; technology; and distribution will enable a more rapid and aggressive execution of the Group's strategy to become a full service global e-commerce solution provider.



Charles Butler, Market Tech Chief Executive Officer, said:



"This is an extremely exciting acquisition for Market Tech. StuccoMedia's e-commerce technology will form the centrepiece of our transition to a fully integrated online/offline retail offering. Following the acquisition of Glispa in March this year we will now be able to leverage our real estate and e-commerce assets to provide a truly global online marketplace coupled with physical retail and leisure assets."



Of the US$34.5 million consideration, the initial consideration of US$25.8 million is to be satisfied on closing of the acquisition by a US$12.8 million cash payment and US$13 million in ordinary shares in the capital of the Company ("Ordinary Shares"), equating to 3,468,196 Ordinary Shares, (representing approximately 0.92% of the existing issued share capital of the Company). The working capital adjustment will be calculated after closing of the acquisition and any payments due following the adjustment will be made in cash. The deferred element of consideration of US$8.7 million, which is payable subject to continued involvement of certain of the Vendors in the business, is to be satisfied in Ordinary Shares, which will be issued in instalments between the first and second anniversary of closing of the acquisition. The total number of Ordinary Shares capable of being issued in connection with the deferred consideration is 2,312,130, (representing approximately 0.62% of the existing issued share capital of the Company).



In addition to the total consideration of up to US$34.5 million, certain of the Vendors are entitled to a further aggregate payment of US$8.5 million in cash subject to the successful future delivery of an e-commerce platform for the Group, measured against key deliverables and within specified timeframes. Such payment, if it becomes due, is subject to the continued involvement of the relevant Vendors in the business and will be made 12 months after closing of the acquisition.



- Ends -

Strategic real estate acquisition
RNS
RNS Number : 4965Q
Market Tech Holdings Limited
18 June 2015

Market Tech Holdings Limited



("Market Tech", "the Company" or "the Group")





Strategic real estate acquisition





Market Tech Holdings Limited (MKT: AIM), the holding company that combines iconic real estate assets with an e-commerce business and owns and manages the main Camden Markets in Central London, announces that it has exchanged contracts to acquire the freehold property comprising 1-11 Hawley Crescent NW1 ("Hawley Crescent"), for a total consideration of £31.1 million including stamp duty of £1.2 million, to be funded from existing facilities. The freehold property is in a strategically important location within the Group's property portfolio sitting opposite a property currently occupied by MTV.



Hawley Crescent which is primarily let to the Open University, includes commercial as well as residential units and is located next to the Group's main Camden Markets site. Its commercial floor area totals 19,720 sq ft in addition to a further 5,260 sq ft of residential space. The commercial leases are on upwards only rent reviews and the Group considers that current rents are low in comparison to the surrounding area.



The total consideration is to be paid in cash with completion set for 28 July 2015.



Charles Butler, Market Tech Chief Executive Officer, said:



"Today's acquisition continues the Group's strategy to create a world class living, working, retail and leisure destination - establishing the right asset base from which Camden Markets and its surrounding area can be reinvigorated."





Mark Alper, Market Tech Property Director, said:



"The Hawley Crescent building extends the Group's estate and we are especially delighted that, in the Open University, we have a high quality educational tenant that adds to our Camden ecosystem."

Company News

Market Tech hires Berenberg's Bucher to help with Camden Markets development

Tue, 23 June 2015


Market Tech hires Berenberg's Bucher to help with Camden Markets development



Market Tech Holdings, a London-based real estate and e-commerce business, has appointed Georg Bucher as its new head of corporate development and capital markets.
Bucher will join the company immediately and is expected to play a "key role" in the group's mergers and acquisitions strategy, helping with the development of Camden Markets.

He previously worked for Berenberg Bank as head of corporate finance and held positions at Deutsche Bank and UBS Investment Banking.

Chairman Neil Sachdev said: "I am delighted to welcome Georg who brings strong corporate finance, capital markets and investor experience especially in real estate from his previous roles.

"As we execute our strategy to reinvigorate Camden Markets and grow the business, I have every confidence in Georg's ability to play a key role in the group's M&A strategy and lead engagement with its financial stakeholders."

As part of its strategy to expand its property portfolio, Market Tech last week acquired Hawley Crescent for £31.1m.

The site is primarily let to the Open University and includes commercial and residential units close to the group's Camden Markets site.

Shares rose 1.32% to 253.8p at 15:07.

Final Results
RNS
RNS Number : 0275R
Market Tech Holdings Limited
24 June 2015

Market Tech Holdings Limited



("Market Tech," the "Company" or the "Group")





Final Results for the 12 months ended 31 March 2015





Market Tech Holdings Limited (AIM: MKT), the holding company that combines 14 acres of iconic London real estate assets, including the main Camden Markets, with a Technology and e-commerce business, is pleased to announce its final results for the 12 month period to 31 March 2015.





Financial highlights



§ Total revenue of £30.1m, of which £20.1m from property & other and £10.0m from Technology & e-commerce



§ Profit before tax of £44.1m, resulting in basic EPS from continuing operations of 16.19p per share



§ Adjusted EBITDA* of £12m



§ Like-for-like property valuation uplift of £67m, representing 11.7% growth



§ Total property portfolio valuation of £753.7m



§ Group Net Asset Value at period end of £555.5m, representing 148.13p per share

§ EPRA Adjusted NAV** (property and other segment) of £527.9m, representing 140.76p per share

§ Cash and available undrawn facilities of £191m at financial year end



§ Successful December 2014 IPO, raising £100m of new equity capital, valuing the Company at £750m



§ Between IPO and 31 March 2015 the company has acquired a total of £99m of property assets



§ Subsequent raise of a £112.5m convertible bond

§ LTV on net debt of 27.9% with a weighted average maturity of 2.96 years





Pro forma highlights, directors' property valuation and current trading



§ Group unaudited 12 months pro forma financial highlights:

§ Revenues of £91.7m, of which rental income £30m and Technology & e-commerce £62m

§ Gross profit of £51.4m

§ Adjusted EBITDA of £23.2m

§ Adjusted EBITDA* per share from continuing operations 8.51p

§ Directors gross development valuation ("GDV") of £1.6bn

§ Directors estimate of adjusted NAV of £1,124m, representing 300p per share***





§ Gross rent for April and May 2015 of £4.4m, representing an increase of 43% on the prior year



§ Technology & e-commerce revenues for April and May 2015 of £17m, representing a like for like increase of 74% on the prior year before their acquisition by the Group





Operational highlights



§ Portfolio and acquisitive growth in both real estate and e-commerce driving value

§ Real estate acquisitions totalling £143m since IPO to widen estate and create multi-sector commercial opportunities for SMEs - completed strategic property acquisitions to date since IPO including The Interchange Building and Camden Lock freehold for £49m, Camden Wharf for £50m and Utopia Village for £44m

§ Contracts exchanged on Hawley Crescent for £31.1m

§ Two strategic acquisitions to boost key online platform and offering- Glispa GmbH acquired in March 2015 for £24.9m and Stucco Media acquired in May 2015 for £22.7m, which combined with existing e-commerce assets form the foundation for the Group's rapidly growing online business

§ Co-working initiative due to launch throughout late summer 2015 until the end of the year, providing flexible work spaces for c.1,000 people

§ Launch of camdenmarket.com, a consumer-facing e-commerce, technology and mobile marketing platform to leverage the world-renowned Camden brand and drive virtual footfall



§ Hawley Wharf redevelopment programme underway, with Mace (construction partner to the Olympic Delivery Authority) appointed as construction partner. Dynamic new canal-side mixed use scheme incorporating new state-of-the art trader-led market due for completion during financial year 2018, with a new school due by September 2016



§ Unification of the major Camden markets under common ownership for the first time in history creating unique c.13 acre prime real estate opportunity, which has increased to 14 acres post year end



§ Camden's position as a world-recognised retail destination further enhanced, attracting 28m visitors per year, the fourth most visited destination in the UK





Charles Butler, Chief Executive of Market Tech, commented:



"The year to 31 March 2015 has been the start of our transformation. Our successful IPO and initial fund raise has enabled the business to acquire more sites, commence redevelopment of key assets and develop its wider vision for Camden with its global audience. We have already commenced reinvigorating the unique Camden experience and truly believe that this unique c.13 acre real estate opportunity combined with a world-wide integrated e-commerce strategy has created one of the most exciting opportunities in the UK - for retailers and shareholders alike. Together we have a very exciting future together."





Financial statistics for the 12 months ended 31 March 2015



Performance
2015

Total shareholder return
23%

Profit before tax
£44.1m

Basic EPS from continuing operations
16.19p

Adjusted EBITDA*
£12m

Adjusted EBITDA* per share from continuing operations
4.41p

EPRA adjusted NAV
£527.9m

EPRA adjusted NAV per share
140.76p

Directors' property value estimate
£1,601m

Like for like growth in assets in period of ownership
£67m

Like for like % growth since last valuation
11.7%

Dividend per share
Nil






*Adjusted EBITDA is defined as Earnings Before Interest, Taxes, Depreciation, Amortisation and adjusted for fair value investment property movements, share based payment charges, exceptional items and foreign currency exchange gain/(loss)

** EPRA adjusted NAV is defined as EPRA NAV calculated on the property and other segment net assets only.

*** Directors adjusted NAV is defined as director's estimate of GDV less future capex to complete the developments less year end fair value plus year end EPRA adjusted NAV.



- Ends -

Placing of shares
RNS
RNS Number : 6418S
Market Tech Holdings Limited
09 July 2015

THIS ANNOUNCEMENT (INCLUDING THE APPENDIX) IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, BY ANY MEANS OR MEDIA, IN OR INTO OR FROM THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS ANNOUNCEMENT.



Market Tech Holdings Limited

("Market Tech" or "the Company")



Placing by way of an accelerated bookbuild of up to 90,000,000 Placing Shares



Summary of the Placing

· Placing of up to a maximum of 90,000,000 Ordinary Shares with the price per Placing Share to be determined through an accelerated bookbuild

· The maximum number of Placing Shares being offered in the Placing represents approximately 23.8 per cent. of the Existing Shares (assuming no conversion of Convertible Bonds into Ordinary Shares before AIM Admission)

· Citwax, the Company's largest Shareholder with an interest in 85.6 per cent. of the Existing Shares, have expressed an interest to subscribe for up to 12.5 per cent. of the Placing Shares. If the Placing is fully subscribed Citwax will hold approximately 71.5 per cent. of the Enlarged Issued Share Capital (assuming no conversion of Convertible Bonds into Ordinary Shares before AIM Admission)

· Market Tech has appointed Shore Capital and Canaccord Genuity as Joint Global Coordinators and Joint Bookrunners and Berenberg as Joint Bookrunner to the Placing

· The Placing will be conditional on, amongst other things, Shareholder approval at the Extraordinary General Meeting

· Books are open with immediate effect

· The Appendix to this announcement contains the detailed terms and conditions of the Placing

Rationale for the Placing

· Funds raised are to be used for, amongst other things, the development of the Group's assets and for general corporate purposes

· Completion of the Placing is intended to assist the Company in satisfying the FCA's requirement that 25% of the Ordinary Shares for which admission to the Official List is sought are held in public hands in order to progress the Main Market Admission

· The Placing is also part of the longer term financing strategy for the Company based around the appropriate mixture of equity and debt to meet the Company's growth ambitions, evidenced by the agreed headline terms with third party debt providers for a substantial debt package announced on 8 July 2015

Acquisition Update
RNS
RNS Number : 3697U
Market Tech Holdings Limited
29 July 2015

Market Tech Holdings Limited



("Market Tech" or "the Company")





Acquisition update





Market Tech (AIM: MKT), the holding company that combines 14 acres of London real estate assets, including the iconic main Camden Markets, with a technology and e-commerce business, announces that further to the announcement on 18 June 2015, the acquisition of 1-11 Hawley Crescent NW1 is now intended to complete on 10 August 2015.

Development update

Completion of Acquisition
RNS
RNS Number : 6144V
Market Tech Holdings Limited
10 August 2015

Market Tech Holdings Limited



("Market Tech" or "the Company")



Completion of Acquisition





Further to the announcement on 18 June 2015, Market Tech (AIM: MKT), the holding company that combines 14 acres of London real estate assets, including the iconic main Camden Markets, with a technology and e-commerce business, is pleased to announce the completion of the acquisition of 1-11 Hawley Crescent NW1.

Lease arrangements with related parties
RNS
RNS Number : 1097B
Market Tech Holdings Limited
02 October 2015





Market Tech Holdings Limited



("Market Tech" or the "Company")



Lease arrangements with related parties



Market Tech Holdings Limited (MKT: AIM), the holding company that combines 14 acres of London real estate assets, including the iconic main Camden Markets, with a technology and e-commerce business, announces that the Group has agreed leases for units at Utopia Village with: (i) Raftech Services Limited; (ii) Safecharge (UK) Ltd and (iii) Visual DNA, part of the Imagini Europe Limited group of companies. Each of the leases with Raftech and Safecharge will be for an initial one year term and the leases with Visual DNA will each be for an initial term of three years. The leases have an annual rent of £129,285, £121,420 and £161,220 and £99,480 respectively. In addition, the Group has agreed to meet costs up to £25,000 in relation to Visual DNA's relocation costs.



The entry into each of the leases constitute related party transactions pursuant to Rule 13 of the AIM Rules for Companies ("AIM Rules") as (i) Raftech Services Limited is an "associate" for the purposes of the AIM Rules of Alon Shamir, a director of various of the Company's subsidiaries and (ii) Safecharge (UK) Ltd and Imagini Europe Limited are each an "associate" for the purposes of the AIM Rules of Citwax Investments Limited, a substantial shareholder (as defined in the AIM Rules) of the Company.



The Directors, having consulted with the Company's Nominated Adviser, Shore Capital, consider that the terms of the leases are fair and reasonable insofar as the Company's shareholders are concerned.