"The Europol document can be downloaded from here:

http://www.arcequities.co.uk/brochures/europolprop.pdf"

I haven't read it in full but note it is not apparently a fund raising exercise for Europol International PLC itself. It is an offer for sale of shares by certain shareholders.

As at 30 September 2006, the Arc EIS 3 Growth Fund and the Arc EIS 4 Growth Fund held investments in "Europol" International plc, valued at £719,587 by the Fund Manager. The combined "ownership %" appears to be 24.08% ( 16.39% + 7.69%) as at that date

http://www.arcfundmanagement.com/arceis3.doc
http://www.arcfundmanagement.com/arceis4.doc


I am not aware as to whether or not the two Funds continue to hold but the offer document shows a holding by Arc Fund Management Limited of 8.37% and a Share Nominees Limited holding of 22.53%.

In addition, according to the Capital Ideas PLC Interim results for the six months ended 31 October 2006, issued on 26 January 2007:

"Europol International plc: the Company has a book value investment of £101,000 and this investment is currently being marketed via an IPO Offer which should result in its partial or total disposal"

http://investorschronicle.digitallook.com/cgi-bin/digitalcor...

The offer document shows a holding by Capital Ideas Limited (sic) of 8.37%.

There is summary of the Capital Ideas PLC investment in Europol below, including detail of the original investment and share options and loan finance provided to Europol:

Compiled September 2006
http://www.aimquoted.com/companyinfo/CapitalIdeasPlc22.09.06...

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I am not surprised Arc Equities Limited are keen to get this one away.

PD