GreenBank Capital Inc (CSE:GBC) said it has agreed to acquire an additional 29.5% of Staminier Ltd, in what constitutes a "significant step" towards full GreenBank ownership of Staminier.
The move followed a request from the shareholders of Staminier, the next-generation investment firm said.
In a separate statement, GreenBank announced a new internal marketing strategy, which will produce the framework to implement the first phase of consistently delivered content creation and communications.
"We are pleased to have significantly increased our stake in Staminier and feel that the close working relationship between the two companies is already providing substantial enhanced financial value,” commented GreenBank CEO Terry Pullen in a statement.
“We are very excited indeed about our prospects as we shift gear in terms of corporate action, profitability and market awareness."
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The company said it has now completed the acquisition of 29.1% out of the expected 29.5%, in consideration of the issuance to the vendors (shareholders of Staminier) of 31,848,428 GreenBank common shares.
GreenBank noted that these common shares are being issued in lieu of the Special Shares which were referred to in the release of August 3, 2022, as being the intended consideration.
The 31,848,428 GreenBank common shares are subject to the statutory hold period of four months and one day.
Following the acquisition of the additional 29.1% of Staminier's share capital, GreenBank now holds 48.1% of the ordinary share capital of Staminier.
The company explained that 4,810,522 of the 31,848,428 GreenBank common shares issued as consideration are to be issued shortly by the transfer agent directly to the vendors with the balance of 27,087,906 Greenbank common shares at or around the same time being placed and held in escrow until the conditions for release from escrow have been met.
GreenBank said it hopes it will very shortly be in a position to complete the acquisition of the remaining 0.4% of the 29.5% announced on August 3, at which point a further 18,758 common shares will be issued directly to the vendors in question and a further 105,426 placed into the same escrow.
The conditions for the release of the Greenbank shares from escrow have been drafted with the aim of ensuring that, until such time as the company has published a prospectus, the vendors do not collectively hold more than 45% of the voting rights of GreenBank.
In addition, GreenBank has agreed to extend the current put option of which the Staminier shareholders have the benefit until 31 March 2023, subject to the option not being exercisable without the consent of GreenBank or at any time when such exercise will result in GreenBank or any persons acting in concert together acquiring an interest giving control of Staminier.
Marketing strategy
Referring to its new marketing strategy, GreenBank said it has developed digital resources to implement a range of content, including posting of relevant business updates, regulated press release coverage, manageable social media output and creator/influencer connections that will produce both organic and sponsored interaction between GBC and wider audiences.
The initiative targets a clear goal to establish the digital footprint and perception of the GBC brand, and the new resources will be used to generate content which will vary across regulatory, educational, informative and social, to inform the existing and expand the current GBC audience, the company explained.
"The creation of a sustainable marketing resource signifies an important step towards building GreenBank as a modern financial business. Our clear objectives will be measured via analytics and has been strategically timed to be most effective in relation to global market conditions and our current business growth & opportunities," CEO Pullen said.
Highlights of the new strategy include:
- London studio for in-house GreenBank content production;
- Long-form investor video content (via YouTube);
- Social Media Short-form content;
- Proactive Investor interviews with leading industry experts;
- Collaborations with special guests;
- Podcast appearances with GreenBank executives;
- Influencer (Creator) competitions/campaigns;
- Affiliate marketing programs;
- Analyst reviews/research;
- Dedicated pipeline of press releases;
- Content schedule to 2024
GreenBank invests in multi-sector undervalued public and private growth companies focused on building consistent capital appreciation for its shareholders.
Contact the author at jon.hopkins@proactiveinvestors.com