Kreston Reeves has successfully acted as Reporting Accountant for the listing of Majestic Corporation Plc

Majestic is a profitable business engaged in the recycling of precious metals and non-ferrous metals from obsolete mechanical and industrial material including catalytic convertors, printed circuit boards, legacy electrical and electronic equipment (“WEEE”), and industrial metal residues left over from manufacturing.

Headquartered in Hong Kong, Majestic’s operations source, collect, and process recyclable material from around the world including the USA, Italy, Mexico, Australia and the UK. This is primarily sold to refinery customers based in Japan who reconstitute it for re-use in manufacturing.

E-waste is becoming the fastest growing domestic waste stream fed by increased public consumption of electronics with short physical or brand life cycles and or limited or costly options for repair. The Global E-Waste Monitor report estimated that the worldwide mountain of electronic and electrical equipment (WEEE) for recycling in 2021 would be circa 57.4 Mt and will reach 74 Mt per annum by 2030.

Much of this material goes un-recycled – only 17.4% of e-waste was documented as returning to the supply chain in some form in 2019, but precious metals and other high-value recoverable materials conservatively valued at US$57bn were mostly dumped or burned adding to landfill and pollution rather than being collected for treatment and reuse. The opportunity and value of recovery is substantial e.g. the amount of recoverable gold in one tonne of discarded mobile phones is more than in a tonne of gold ore, with a lower capital expenditure for recovery.

The listing on AQSE will allow Majestic to develop a public market presence and in due course will provide it with an opportunity to access funding from the UK capital markets to support further growth and expansion.

Testimonials: 

“The Kreston Reeves team, led by Jack Clipsham, James Reed-Sperrin and Anne Dwyer, provided essential Reporting Accountant services for the Majestic Corporation plc Listing. Their knowledge of and guidance through the process were instrumental in the timely and successful completion of the Listing. The team that was put together, which included Kreston CAC RXCPA Limited in Hong Kong, were extremely professional throughout and a pleasure to work with.”

• Peter Lai, CEO and Principal Shareholder (Majestic plc)

“We are delighted to have worked with Peter Lai and the Majestic team, Guild and Punter Southall on this successful Aquis Listing and look forward to watching as Majestic goes from strength to strength, providing essential recycling services.”

• Jack Clipsham, Partner (Kreston Reeves)