summerlightning.com
15 March 2000
Guinan Launches Summer lightning PLC
Ed Guinan, former chairman of JellyWorks PLC (JLY), today announced the launch of a new company that will create and manage a network of Internet companies, Summer Lightning PLC (www.summerlightning.com).
Summer Lightning is a "financial accelerator" for converging technologies and industries and will operate and invest initially in the financial services, telecoms and healthcare sectors. With headquarters in London, the primary focus for investment will be in Europe.
Financial Services
Summer Lightning today announced that it has agreed to acquire Moore, Clayton & Co. ("MCC") www.mccglobal.com, a strategic and financial advisory firm. The company will have offices in London, Washington DC, Los Angeles, and Bermuda and provide specialist advice to emerging and established companies with a focus on the Internet and technology industries. CO-founded by Tony Moore and Sharon Clayton, MCC already has a portfolio of fifteen global technology based investments.
Summer Lightning will manage the 'Summer Lightning Accelerator Fund', a closed end fund that will initially raise up to $500 million to invest in Internet and high technology investment opportunities across Europe.
Telecoms
Summer Lightning will also form Digital Reach Networks, which will become a Pan-European telecom operator. It will build an ATM backbone, providing end to end digital solutions for voice, IP, WAP, and broadband applications to regional cities. Digital Reach Networks will in turn acquire MadhouseNet Communications a licensed UK telecommunications company and ISP as a first step.
Healthcare
Summer Lightning will also form MedTech Accelerator. Healthcare is a growing $2 trillion industry. The Internet creates significant opportunities for internationally applied medical technologies. The focus of MedTech Accelerator will be to invest in high-tech medical specialities, which are suitable for creative bundling with new media techniques.
It is intended that Summer Lightning will list on the OTC BB via a reversal into Imark Technologies, Inc. ("Imark") a former Nasdaq listed company of which Guinan indirectly owns 90%. Following the reversal into Imark and change of name to Summer Lightning PLC, it is expected that trading will start in Summer Lightning in May.
Summer Lightning will undertake a private placing to raise $10 million.
The current board of Summer Lightning includes Ed Guinan as Chairman and Tony Moore as Vice Chairman. Mr Moore was the co- founder and managing partner of MCC. Prior to establishing MCC, Mr Moore was President and CEO of Los Angeles based New Energy Technologies a subsidiary of New Energy Inc., the largest deregulated energy services provider in the U.S. Between 1982 and 1991 Mr. Moore held various senior positions at Goldman Sachs including Head of Investment Banking in Tokyo and Managing Director of Goldman Sachs Asia.
Ms Clayton will serve as President of Summer Lightning PLC. Prior to establishing MCC with Mr. Moore, Ms Clayton owned Presentations Inc, an international strategic consulting firm. The firm specialised in working with senior executives to set strategy, undertake business planning and implement strategy for emerging and established companies in vertical markets internationally. Prior to launching Presentations, Ms Clayton was the International Vice President of Business Development for a multinational engineering controls company based in Toronto, Canada. Ms Clayton also held the position of Director of Business Development for the Financial Services and Commercial Real Estate Industries at Johnson Controls, a multi-billion dollar automotive and engineering controls company.
Ed Guinan, Chairman of Summer Lightning PLC, commented:
"Improving on the successful model of Ci4net, CMGI and other companies who create and manage Internet companies, Summer Lightning will enable investors in Europe as well as the USA to invest in a carefully researched and strategically and financially supported portfolio of the most promising technology companies."
Tony Moore, founder of Moore, Clayton & CO and Vice-Chairman of Summer Lightning PLC, commented:
"We very much wanted MCC to be a lot more than 'just another Internet investment company' and we are therefore delighted to add MCC's experienced professionals and their exposure to international Internet opportunities to the Summer Lightning Group of companies."
Enquiries:
Ed Guinan, Chairman
Summer Lightning Tel: 0171 849 6026
Sam Vallings
The Communication Group plc Tel: 0171 630 1411 |
