Marechale Capital responds to share price surge

21st Aug 2015 12:05

(ShareCast News) - Marechale Capital confirmed that a meeting will be held next week to consider the planning application over the proposed site of a project for Northfield UK Solar, in which it holds a 26% stake.Responding to media speculation and the surge in its share price on Friday, the company said a meeting of the Full Planning Committee of Kettering County Council is scheduled to be held on 25 August.The investment banking and corporate finance business said that whilst the development control manager has recommended to the committee that the application be approved, no decision has yet been made."Should the committee approve the application, Northfield will move onto the next stage of developing the project - including seeking to contract for the construction of the site," said Marechale.It added that further announcements will be made in due course, if appropriate.At 1215 BST, Marechale shares were up 157% at 4.97p.