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6 November 2024

Literacy Capital plc ("Literacy Capital", "BOOK" or the "Fund")

New Investment

Literacy Capital invests in amplify5 - a rapidly growing offshoring business

Literacy Capital is pleased to announce an investment into amplify5 (or the "Company"), a leading and innovative UK-headquartered business, specialising in offshoring critical business function solutions to Cape Town, South Africa.

BOOK has made an investment for a significant minority stake and provided capital to fund and accelerate further growth of the business under the founder's continued leadership. Further financial terms have remained undisclosed.

The Company provides a range of bespoke offshoring solutions to corporates and SMEs across a variety of sectors. amplify5's agile operating model provides a flexible offering to customers, transforming the Business Process Outsourcing sector. These solutions include customer services, finance, accounting and payroll and administration back-office services, providing its clients with cost savings, improved processes and ability to focus on their core business activity.

Founded in 2021 by Alastair Brass, amplify5 has established itself as an innovative and specialist offshoring provider, with delivery based in Cape Town, South Africa. Following the transaction, Alastair will remain at the centre of business activities in his role as CEO, driving organic growth and ensuring amplify5 continues to deliver its customer centric service offering to its impressive set of clients across the UK, Europe and the US.

Use of technology will remain at the forefront of amplify5's business activities, allowing the business to continuously improve efficiency and service quality for clients.

Richard Pindar, CEO of BOOK's Investment Manager, commented:

"We're pleased to make our 25^th investment since inception of the fund in amplify5, a rapidly growing and disruptive offshoring business. The investment from Literacy Capital will support and accelerate amplify5's exciting growth plans, enabling the business to expand into additional Cape Town locations, increase capacity and strengthen its team.

We continue to believe that investing in smaller, private companies is where the most value can be added and most rapid growth can be achieved and we continually look to recycle the capital received from our existing portfolio into businesses with excellent potential. We look forward to amplify5 joining our exciting cohort of portfolio companies."

Enquiries

For further information, please contact:

About Literacy Capital:

Literacy Capital (BOOK.L) is an investment trust that was co-founded by Paul Pindar and Richard Pindar in 2017 with £54m of capital. Literacy subsequently listed on the London Stock Exchange in June 2021. The Fund focuses on opportunities to invest for the long-term in growing private businesses where a clear route to creating additional value can be seen with its support. The fund structure is evergreen, allowing it to be more flexible and to accommodate the wishes or needs of founders.

It also has a unique charitable objective, to donate 0.9% of annual NAV to charities focused on improving UK literacy in children. £10.6m has been donated or reserved for donation to charities since the trust's creation in 2017.  For more information, please visit our website: www.literacycapital.com.

Website:

www.literacycapital.com

LEI: 2549006P3DFN5HLFGR54

A copy of this announcement will be available on the Fund's website at www.literacycapital.com.