Asset Match, a platform for trading shares in private companies which recently acquired Sharemark, has added the Isles of Scilly Steamship Company to its members.
A business which is the sole transportation link between the UK mainland and the Isles of Scilly has joined Asset Match ahead of a company share auction later in the month.
Founded in 1920 by the inhabitants of the island, the Isles of Scilly Steamship Company runs a ship and flight service.
Upon joining Asset Match, the business will hold its first auction on 25 January, with future auctions to be held on the last Friday of each month.
Back in October 2012, companies listed to trade on Sharemark were transferred to a new facility following its acquisition by Asset Match.
Speaking to GrowthBusiness back then, Stuart Lucas, founder and co-CEO of Asset Match, said that while similar competitors in the space are largely reactive and focus on de-listers, the new platform would look to target what he identified as a ‘log-jam’ of £300 billion which is locked up in seasoned, established and profitable companies. Those listed in The Sunday Times Top Track 250 are a group he highlighted as a target.
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Andrew May, chairman of the Isles of Scilly Steamship Company, comments, ‘For some time now we have been considering ways in which transactions in our company’s shares could be improved.
‘The board considers that the services offered by Asset Match will make available a number of benefits to our company as well as shareholders.’
In its current guise, the transportation business runs the Scillonian ship that sails from Penzance, the vessel Gry Meritha which is an all year round freight service, and Skybus which operates scheduled flights form Land’s End, Newquay and Exeter.
Lucas adds, ‘We are pleased that Isles of Scilly have chosen us, they are a successful and long established company and we look forward to working with them.’