Over the last three weeks Enterprise Britain has suggested a number of innovations which might restore the fortunes of PLUS Markets Group Plc.
The other way is competition – and it has arrived.
Welcome GXG Markets UK (“GXG”)
Describing themselves as “global market solutions for the SME sector” GXG, which has been operating dedicated SME markets for over 10 years, offers:
- a regulated market where fund-raisings require a prospectus
- a multilateral trading facility (“MTF”) which does not require a prospectus or the adherence to IFRS accounting standards
- an Over-The-Counter (“OTC”) market. Investors will need to be professional and/or sophisticated and/or high net worth individuals.
GXG operates in Sweden, Denmark and London and is authorised and regulated under EU legislation. UK investors receive the same protections as with any other regulated market.
GXG is developing its business through a network of FSA regulated corporate advisers, brokers and Business Angel Networks.
So PLUS, time to regroup and strategise. The managing director Simon Kiero-Watson and his team are streetwise and passionate so you now have a direct competitor.
Almost certainly their trump card will be the OTC market. As the UK emerges cyclically from recession this early stage equity facility could prove to be a winner.
May the best team win or better still, may they both become successful.