Picture of Argentex logo

AGFX Argentex News Story

0.000.00%
gb flag iconLast trade - 00:00
FinancialsHighly SpeculativeMicro CapContrarian

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

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250708:nRSH0700Qa&default-theme=true

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

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCZZGGNRNGGKZM

Recent news on Argentex

See all news