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Oberon Investments Group PLC on Monday said it has received approval from the UK Financial Conduct Authority to buy Nexus Investment Evergreen EIS Scale-Up Fund and Nexus Central Management Services Ltd.
The investment management, wealth planning and corporate broking group said the acquisition was funded via the issue of 7.5 million new shares in Oberon.
Nexus EIS Fund has a 15 company portfolio covering digital, data, education technology and health, the firm said. The acquisition will boost its existing ‘Oberon EIS Fund’, it said
Oberon added that it expects the purchase to contribute to its profit figure. It said it is focused on ‘providing a seamless transfer of investment management services to investors in the Nexus EIS Fund.’
Chief Executive Simon McGivern said: ‘Having now received the change of control approval from the FCA we are delighted to be able to reinforce our existing EIS offerings and welcome the Nexus EIS Fund investors to Oberon’.
Oberon shares were untraded at 3.58 pence each on Monday afternoon in London.
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