REG - Argentex Group PLC - Extension to Bridging Loan

ArgentexAnnouncement

Yesterday 10:45

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RNS Number : 8310G  Argentex Group PLC  30 April 2025

30 April 2025

 

Argentex Group plc

("Argentex" or the "Company")

 

Extension to Bridging Loan

 

Further to the 25 April 2025 announcement regarding the Recommended
Acquisition of Argentex by IFX Payments, the Company announces that in
response to a request yesterday for £3 million and €1.2 million incremental
Initial Amount (IA) from the Company's principal Tier 1 Liquidity Provider,
the Company has today reached agreement regarding the provision of additional
liquidity support from IFX Payments.  These IA amounts will be held by the
Tier 1 Liquidity Provider and represent ring-fenced capital.

 

This funding will be provided by way of an immediate £4 million extension to
the Bridging Loan Facility, as announced on 24 April 2025, and will be
provided on the same terms as those previously disclosed.  The Company also
confirms it is in discussions with IFX Payments regarding the provision of a
larger, revolving credit facility (RCF) to assist with the management of the
Company's continuing liquidity and working capital needs.

 

As announced last week, it was essential that Argentex took urgent steps to
secure significant further immediate ongoing liquidity support and
consequently, trading in the Company's Ordinary Shares was suspended.

 

In light of the requirement for the Company to secure significant further
immediate ongoing liquidity support by way of the revolving credit facility in
the coming days, trading in the Company's Ordinary Shares will remain
suspended.

 

Further announcements will be made in due course.

 

For further information, please contact:

 

Argentex Group PLC

Tim Rudman - Interim Chief Executive Officer

Guy Rudolph - Chief Financial Officer

investorrelations@argentex.com (mailto:investorrelations@argentex.com)

 

Teneo (Financial PR to Argentex)

James Macey-White / Victoria Boxall / Riann Cato

argentex@teneo.com (mailto:argentex@teneo.com) , 020 7260 2700

 

Singer Capital Markets (Financial Adviser, Nominated Adviser and Broker
to Argentex)

Tom Salvesen / James Maxwell / James Todd

020 7496 3000

 

 

 

 

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