SandpiperCI Group Limited (“Sandpiper”) is a TISE listed international retail and food service operator established in 2007 with over 80 stores across 5 territories. It works in partnership with 10 blue chip retail brands as well as managing 6 locally grown brands to bring great shopping experiences to thousands of customers across the Channel Islands, Gibraltar and the Isle of Man.

Sandpiper supports over 120 charities, schools and organisations each year and stocks produce from more than 40 local suppliers.

Subject to the financial performance of the business, Sandpiper normally pays dividends in June and December each year. Since listing on TISE in May 2019, Sandpiper had been paying a stable dividend to shareholders.

www.sandpiperci.com

Guernsey Recycling (1996) Limited

Guernsey Recycling (1996) Limited, trading as GRG, is a waste to resource management group headquartered in Guernsey with over 200 staff operating across Guernsey, Jersey, the UK and the Cayman Islands.

GRG companies are active in the transportation, processing and trading of all forms of waste. Everyday GRG turns processed waste material into renewable resources. The group serves customers ranging from governments to individuals and businesses from all sectors.

The company provides infrastructure and services for all forms of solid, hazardous, liquid and inert waste in large and small economies. Given its Channel Islands’ heritage, GRG has a particularly intimate and unique knowledge of waste management solutions for island economies.

Through the acquisitions of BKP Waste, Greenway Environmental and Chloros Environmental in the UK, GRG has become a market leader for hazardous and liquid waste, providing solutions across the UK.

www.grgcorp.com

SigmaRoc plc

SigmaRoc PLC (“SigmaRoc”) is an AIM-listed buy-and-build group targeting construction materials assets in the UK and Northern Europe. It seeks to create value by purchasing assets in fragmented construction materials markets and extracting efficiencies through active management and by forming the assets into larger groups. It seeks to derisk its investments through strong asset backing at its projects. SigmaRoc was founded in 2016 to acquire the Channel Islands’ leading construction business, Ronez. This was closely followed by a number of acquisitions and the creation of additional platforms in the UK and Northern Europe. The company now operates six platforms:

• Channel Islands - the Ronez operations supply the Channel Islands with aggregates, ready-mixed concrete, asphalt and precast concrete products. SigmaGSY is a shipping business using specialised ships to supply dry bulk cementitious material internally and to third parties across the UK, Europe and Scandinavia.
• Nordkalk – the leading company providing limestone-based products and solutions to Northern Europe.
• Dimension Stone - Carrières du Hainaut is the world’s largest producer of Belgian blue stone, a high-grade dimension stone produced exclusively in Belgium under European protected status.
• Precast Products Group – a platform of companies specialising in manufacturing precast concrete products.
• England & Wales – the southern platform consists of Johnstone Quarry Group (JQG) and GD Harries (GDH), which also incorporates the high PSV Quarry, FoelFach.
• Benelux - Granulats du Hainaut is the cornerstone of the Benelux-wide aggregates and concrete platform.

www.sigmaroc.com

The International Stock Exchange Group Limited

The International Stock Exchange Group Limited (“TISEG”) is the parent company of The International Stock Exchange Authority Limited (“TISEA”), which operates the investment exchange known as The International Stock Exchange (“TISE”).

Built on a culture of responsiveness and innovation, TISE is a regulated market specialising in listing bond issuances aimed at professional investors. It also has a pool of ‘domestic’ equities and a significant share of the market for listed UK REITs.

Headquartered in Guernsey and with staff operating across Dublin, Guernsey, the Isle of Man, Jersey and London, TISE’s regulated market is uniquely positioned within the European time zone but outside both the UK and the EU. TISE has more than 3,500 listed securities on its Official List with a total market value of more than £500 billion

The board of TISEG has set the following medium to long-term financial targets:

• Strong improvement in operating ratio
• Improvement in profit margins
• Compound annual growth rate in excess of 10%
• Dividend policy maintained at 50% of taxed profits

www.tisegroup.com

Channel Islands Media Group

Channel Islands Media Group Limited’s (“CIMG”) vision is to bring together traditional printed media with a digital future and comprises two wholly owned subsidiaries, The Guernsey Press Limited and TPA Guernsey Limited.

The Guernsey Press Limited, acquired in September 2019, is a key source of information across the Bailiwick of Guernsey, offering multi-media platforms, as well as the production and distribution of the local newspaper and the wholesale and distribution of national newspapers and magazines.

TPA, acquired in August 2020, is a professional services company creating marketing and digital development output across a range of media in Guernsey and Jersey, with a focus to grow its offering in Jersey.

Bailiwick invested a further £610k into CIMG as part of a capital restructure completed on 1 April 2022, increasing its holding from 30% to 47%. Key members of the management team also invested or increased their investment into the business at the same time.

www.guernseypress.com

Jersey Electricity plc

Jersey Electricity plc (“JEC”) is listed on the Main Market of the London Stock Exchange and has an annual group turnover in excess of £100 million. The States of Jersey owns 62% of the ordinary share capital, which is unlisted.

JEC is a vertically integrated power utility dealing in the importation, generation, transmission and distribution o electricity. The company is the sole supplier of electricity in Jersey, serving over 51,000 domestic and commercial customers. Providing affordable, secure and sustainable energy is its core objective.

JEC’s non-energy businesses include Retail, Building Services, IT Advisory, Environmental Engineering and Property.

JEC fully supports Jersey’s ambitions to become carbon neutral by 2030 and aims to be at the forefront of the change, helping and supporting islanders on the journey.

www.jec.co.uk

Proviz

Proviz is an international, multi-award winning sports brand, distributed and sold online globally.  A Jersey company formed in 2008, Proviz set out to revolutionise the ‘hi-viz’ and reflective sports market and aims to be the world’s most innovative enhanced visibility sports brand, creating products that empower their customers and harnessing the power of the brand for the greater good of the planet.

In May 2022, Bailiwick invested £2m in Proviz as part of a fundraise to support an accelerated marketing and brand awareness programme and strategic international expansion, including investment in people and systems. 

FB Limited

F B Limited (“Oatlands”) owns Oatlands Village, one of Guernsey’s leading visitor attractions comprising a number of rental units, including a range of high quality retail outlets and a popular restaurant, The Kiln.

Oaty & Joey’s Playbarn opened in December 2018 following a multimillion pound development and is one of Guernsey’s premier children’s attractions comprising nearly 30,000 square feet of soft play, trampolines, ten pin bowling and other activities.

During 2021, management successfully completed a number of projects to improve the overall offering, including the opening of Oaty’s Drive Thru, Guernsey’s first fast-food drive through, an upgrade to the crazy golf course and the redevelopment of the former Jungle House to a children’s nursery.

In July 2021, Oatlands welcomed a new investor, Guy Hands, who now sits alongside the Fund and director, Chris Coles. The restructure also enabled the retirement and exit of one of the existing investors and directors, while raising funds to enable the company to exploit further investment opportunities within the existing grounds of Oatlands. Each of the shareholders now holds an equal share in the company, comprising both ordinary and preference shares.

www.oatlands.gg

MitonOptimal International Limited

MitonOptimal International Limited is an independent multi-asset investment manager with offices in the UK and South Africa, focused on the delivery of discretionary fund management and client portfolio management services to a global client base of intermediaries and private clients.

In 2019, the board agreed to commence the orderly wind up of the group and sell the individual constituent parts to the maximise remaining shareholder value. Miton has now disposed of a number of its subsidiary businesses, most recently completing the sale of its Guernsey business in March 2022 and is in negotiation to sell the remaining subsidiaries.

Miton has repaid £1.5m of the Fund’s loan notes from the proceeds of the Guernsey sale and has agreed that the second loan note of £1.5m will be repaid upon completion of the next divestment.

www.mitonoptimal.com

Le Platon

Le Platon was established in 1914 as a residential home for people who are elderly and are at a time in their lives when they need care and support. The home operates on a not-for-profit basis and is run by a registered charity. Construction started in November 2018 to extend the building and refurbish other existing parts to create a fully compliant, market standard 50-bedroom care home for elderly residential and dementia care; this will comprise 37 specialist beds for people with dementia and 12 beds for people requiring residential care.

Construction on the new development wing completed in September 2020 and 20 beds were made available. Phase 2 and the final stage of the development commenced shortly thereafter and is due to complete in August 2022 following a number of delays due to Covid related labour shortages.

www.leplaton.com

Octane PCC

On 2 June 2023, it was announced that Octane PCC had entered into an agreement to sell Jacksons and its operating subsidiaries to Van Mossel Automotive Group. Following approval from the Jersey Competition Regulatory Authority, the sale completed on 11 August 2023.  

Octane PCC continues to own the various property assets including the Jacksons Guernsey, Jersey and Isle of Man sites, Esplanade in the Isle of Wight and Motor Mall Jersey which have been let to Van Mossel on 15 year leases.