REG - Argentex Group PLC - Amendment to RCF & Announcement of VREQ

ArgentexAnnouncement

Tue 07:00

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RNS Number : 0700Q  Argentex Group PLC  08 July 2025

8 July 2025

Argentex Group PLC

("Argentex" or the "Group")

Amendment to RCF & Announcement of VREQ

 

Argentex announces that it has increased its existing £20 million revolving
credit facility ("RCF") provided by IFX Payments to £26.5 million. Alongside
this, the Company has drawn down on the facility, such that overall
utilisation of the RCF is now £23.5 million. This drawn amount is in addition
to the £10.5 million secured bridging loan provided by IFX Payments and has
been applied to strengthen the Company liquidity position.

In connection with the above, the Company's main trading subsidiary, Argentex
LLP, has agreed a further Voluntary Requirement ("VREQ") with the FCA, which
introduces certain asset disposal restrictions to preserve liquidity within
Argentex LLP. These measures form part of the FCA's ongoing supervisory
engagement with Argentex LLP following recent market volatility and
liquidity pressures. The VREQ permits Argentex LLP to continue servicing
clients under defined parameters, while limiting new trading activity to
specific products within agreed trading limits approved by the regulator.

As previously announced, the FCA has confirmed a new Individual Liquidity
Guidance (ILG) level of £23.625 million, effective from 15 July 2025. The
increase to the existing RCF forms part of the Group's proactive steps to meet
this requirement.

The Board and senior management team remain focused on stabilising the firm's
financial position, safeguarding client interests, and supporting a return to
normalised trading conditions in due course.

Enquiries:

 Argentex Group plc                                                             c/o Teneo Financial Advisory Limited

 Tim Rudman - Interim Chief Executive Officer
 Singer Capital Markets Advisory LLP (Nominated Adviser and Financial Adviser   +44 (0) 20 7496 3000
 to Argentex)

Tom Salvesen

James Maxwell

James Todd
 Teneo Financial Advisory Limited (Capital Market Communications Ltd)           +44 (0) 20 7260 2700
 (Financial PR Adviser to Argentex)
 James Macey-White

Victoria Boxall

 Riann Cato

 

 

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