REG - DCI Advisors Ltd - Shareholder Loan

DCI AdvisorsAnnouncement

16/11/2023 15:45

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RNS Number : 7389T  DCI Advisors Limited  16 November 2023

DCI Advisors Ltd

(the "Company" or "DCI")

Shareholder Loan

 

16 November 2023

 

The Board of the Company has entered into a top up loan agreement for Euros
350,000 with a DCI shareholder to provide additional working capital to the
Company. This shareholder provided an initial loan to the Company in April.
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"). Five previous loans
amounted to €350,000 each and two loans from funds managed by the same
shareholder amounted to US$330,000 in aggregate. The first six loans made up
to September 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 these Shareholder Loans from
the proceeds of the sale of Company assets. The new Shareholder Loan and one
that was announced on 6 October have identical terms with the previous loans,
except that there is no right of prepayment by the Company and they will
therefore last 12 months.

 

As previously announced, as none of the Shareholder Loans  were 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. In addition, the Board has agreed
that the Company will guarantee the repayment of the latest loan and that it
will be offering this guarantee to all of the previous lenders in respect to
all Shareholder Loans received to date.

 

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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