About
MathEngine Limited
At the General Meeting of MathEngine PLC Shareholders held on 7th September 2020, the proposals to re-register the Company as a UK private limited company and change the Company’s name to MathEngine Limited were unanimously approved.
Subsequently, on 23rd September 2020, Companies House issued a certificate of incorporation re-registering MathEngine PLC as MathEngine Limited.
The Company’s year-end is the 31st December. UK Company Registration No.: 03334206
Corporate Objective
MathEngine Limited (“MathEngine” or “Company”) is a UK private company managed as an opportunistic investment fund with the stated aim of maximising capital growth.
History
MathEngine was founded in 1997 by Alan Milosevich, a Welsh entrepreneur and former IT teacher. The Company was established to create, design and market “middleware”, a specialist, commodity type of software designed for the more realistic depiction of on-screen motion.
MathEngine’s notional share price first rocketed and then crashed alongside the 1990's “Dotcom” boom and bust bubble, as the anticipated “middleware” market never expanded as expected, and the Company effectively failed during the early 2000’s with its expensively developed software assets having to be sold for little eventual value. Subsequently the Company was rescued from receivership and oblivion and managed to pay off all of its obligations in full during 2004.
Since then, MathEngine’s remaining funds have been managed as an investment fund and increased in value some eight-fold.
Dealings in MathEngine shares
MathEngine Limited is a UK private company. The Company’s shares are not listed on any stock exchange and the directors are not aware of any market in the Company’s shares. Persons wishing either to purchase or sell shares in the Company should, in the first instance, contact the Company Secretary, currently Mrs. Gillian Hedger either by e-mail or in writing, and she will make a record of their wishes in that respect.
If from time-to-time it proves possible to match potential buyers and sellers of shares in the Company, MathEngine will endeavor to facilitate introductions between such buyers and sellers (if any) for such trades on a strictly arms-length basis. Very occasionally, where a shareholder wishes to establish a capital loss for tax purposes, the Company may buy in MathEngine shares into either Treasury or for cancellation. Any persons wishing either to buy-in or sell shares in the Company are strongly advised to seek independent, professional advice from a regulated financial practitioner before doing so.
Current Investment Strategy
The MathEngine board consistently seeks interesting and potentially profitable, long-term, investment opportunities, where they have confidence in the management’s energy, integrity and vision. Currently, the Company holds a portfolio of listed UK shares, including Darktrace, Elementis, Games Workshop, Hiscox, SATS (Singapore Airline Terminal Services) and Smith & Nephew, and two significant unlisted shareholdings, one in Vena Solutions Canada Inc., an unlisted Canadian tech company, where we have already taken substantial profits, and the other in Balamara Resources Limited, an Australian registered Polish coking coal mining venture. The Company also makes high-interest, short-term loans in the UK.
Board Members
David Nabarro
Director
David Nabarro was appointed a director of MathEngine in 2000. He is an experienced City corporate financier and former stockbroker. He formerly managed a discretionary equities portfolio for George Soros’ Quantum Fund.
Robin Woodbine Parish
Non-executive Director
Robin was appointed a non-executive director of MathEngine during 2020. He is a well-known and very experienced funds manager, having been executive chairman of the El Oro Group between 1993 and 2020.