REG - IFX (UK) Ltd Argentex Group PLC - Statement re recommended acquisition of Argentex

ArgentexAnnouncement

Mon 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250721:nRSU7588Ra&default-theme=true

RNS Number : 7588R  IFX (UK) Ltd  21 July 2025

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A
VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION.

For immediate release

21 July 2025

IFX (UK) Ltd
("IFX Payments")

Statement re recommended cash acquisition of Argentex Group PLC

IFX Payments notes Argentex Group PLC's ("Argentex") announcement of 18 July
2025 in relation to the intended appointment of administrators to Argentex
(the "Administration").

As set out in the Scheme Document published on 21 May 2025, IFX Payments did
not intend to implement the Acquisition if any member of the Argentex Group
took steps, or has steps taken against them, for their winding-up or the
commencement of any other insolvency related process, and accordingly, such
Insolvency Condition could be invoked by IFX Payments, with the consent of the
Panel, if any such circumstances arises.

IFX Payments considers that Argentex entering into Administration is of
material significance to it in the context of the Acquisition and is therefore
seeking to invoke Conditions 3(l)(xii) and 3(l)(xiii), as set out in the
Scheme Document, to its Offer. Accordingly, IFX Payments and its advisers are
consulting with the Panel with regard to invoking the Insolvency Condition.

Capitalised terms used in this announcement shall, unless otherwise defined,
have the meanings set out in the Scheme Document dated 21 May 2025. A further
announcement will be made in due course as and when appropriate.

 

Enquiries:

 IFX Payments                                               c/o Strand Hanson
 Strand Hanson Limited (Financial Adviser to IFX Payments)  +44 (0) 20 7409 3494
 James Dance

Rob Patrick

 Imogen Ellis

 Harry Marshall

 

Strand Hanson Limited ("Strand Hanson"), which is authorised and regulated by
the Financial Conduct Authority in the United Kingdom, is acting exclusively
for IFX Payments and for no one else in connection with the Acquisition and
will not regard any other person as its client in relation to the Acquisition
and will not be responsible to anyone other than IFX Payments for providing
the protections afforded to clients of Strand Hanson, nor for providing advice
in relation to any matter referred to in this announcement.

 

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  STRPKKBDPBKDAOB