Coretex Limited


Transaction Type: Company meeting (Allotment)

Allottee: Milford Private Equity II LP

Independent Adviser(s): Campbell MacPherson (Rule 18)

Date of meeting: 15/09/2019


Coretex Limited (Coretex), certain of its shareholders and Milford Private Equity II LP (Milford) proposed to enter into a transaction (the Proposed Transaction) which involved:

  • a liquidity event, whereby a number of Coretex shares would be sold by various sellers to various purchasers at an agreed price per share. Milford would be one of the purchasers; and
  • Milford subscribing for new ordinary Coretex shares, at the same agreed price, in order to provide further working capital for Coretex.

As a result of the Proposed Transaction, the aggregate voting control in Coretex of Milford and its associate, TEA Custodians Limited, would exceed 20%.

Coretex sought approval from its non-associated shareholders for the Proposed Transaction under rules 7(c) and 7(d) of the Code. On 15 September 2019, Coretex shareholders approved the Proposed Transaction.


We have not received consent to publish documents in relation to this transaction on our website. However, copies of these documents are available upon request to the Panel under the Official Information Act 1982. Please send your written Official Information requests to