REG - DCI Advisors Ltd - Shareholder Loan

DCI AdvisorsAnnouncement

06/10/2023 14:30

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RNS Number : 0244P  DCI Advisors Limited  06 October 2023

DCI Advisors Ltd

(the "Company" or "DCI")

Shareholder Loan

 

6 October 2023

 

The Board of the Company has entered into a further loan agreement for Euros
350,000 with a DCI shareholder to provide additional working capital to the
Company.  When combined with the shareholder loans announced previously, all
of the Shareholder Loans are expected to total up to €3.0 million in
aggregate (the "Shareholder Loans" or "Shareholder Loan Agreements").  Four
previous loans amounted to €350,000 each and two loans from funds managed by
the same shareholder amounted to US$330,000 in aggregate. All of the previous
Shareholder Loans have identical terms to one another (other than their date
of initiation and currency of denomination) and are for a 12-month term
bearing an interest rate of 12 per cent. p.a., with no fees payable on
disbursement or repayment. The Company's intention is to repay the previous
Shareholder Loans from the proceeds of the sale of Company assets. However,
the new Shareholder Loan has identical terms except that there is no right of
prepayment by the Company and it will therefore last 12 months. As the
Shareholder Loans have not been repaid by 30 September 2023, collateral in the
form of security over certain Company assets is being put in place using
normal commercial terms which will exceed the aggregate value of each of the
loans.

 

Enquiries

 DCI Advisors Ltd

 Nicolai Huls / Nick Paris, Managing Directors                                nickparis@btinternet.com

                                                                              +44 (0) 7738 470550
 Cavendish Capital Markets (Nominated Adviser & Broker)

 William Marle / Jonny Franklin-Adams / Edward Whiley / (Corporate Finance)

 Pauline Tribe (Sales)                                                        +44 (0) 20 7220 0500
 FIM Capital Limited (Administrator)                                          llennon@fim.co.im (mailto:llennon@fim.co.im) / gdevlin@fim.co.im

                                                                            (mailto:gdevlin@fim.co.im)
 Lesley Lennon / Grainne Devlin (Corporate Governance)

 

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