Veremark

Veremark, a global workplace trust company operating across 180 markets, has completed a £6m secondary share sale on the London Stock Exchange’s Private Securities Market (PSM), providing liquidity to employees and early investors.

Cavendish acted as both a Registered Auction Agent and Trading Registered Auction Agent to Crowdcube on the transaction.

Emily Watts, Head of Corporate Development at Cavendish, said:

“It is great to see a high-growth UK business using the PSM to create liquidity for employees and early investors while remaining private and continuing to grow. The transactions completed to date show how important the regulatory and tax framework is in setting up capital markets for success. The PISCES regime, including the treatment of employee option exercises and the stamp duty exemption, is encouraging participation and making structured secondary liquidity a more practical option for private companies. Congratulations to Veremark and its investors, to Crowdcube for continuing to pioneer in secondary markets, and to the London Stock Exchange for its innovative market.”

Veremark is the fourth PSM transaction Cavendish has supported, following Moneybox, Wayve and TPE for Oxford Science Enterprises.

As the market develops, Cavendish continues to support companies and investors in accessing this new route to liquidity.