ESO has agreed to acquire, subject to shareholder approval, a portfolio of private equity investments (the 'EPIC Private Equity Portfolio') through a newly-established limited partnership (the 'Fund') (the 'Acquisition'). In view of the size of the Acquisition, the transaction is deemed a reverse takeover for the purposes of the AIM Rules, requiring shareholder approval and re-admission of the Company's Ordinary Shares to trading on AIM.

The Company is a private equity investment company advised by EPIC Private Equity LLP the 'Investment Adviser' and focused on investing in small and medium sized companies in the United Kingdom.

Initially focused upon the arrangement of loan financing for businesses emerging from distressed situations, the Company stated in its Admission Document in September 2003, at the time of its admission to AIM, that it would "generally seek an equity stake in businesses to which finance is provided, although this will not necessarily be a pre-requisite to the lending. Where possible this stake will be significant or, where appropriate, controlling". Currently the Company's focus is on providing finance for under-valued special situation investment opportunities.

Listing exchange: AIM

Expected first day of trading: 2010-08-31

Expected money raised: Nil