REG - DCI Advisors Ltd - Shareholder Loan

DCI AdvisorsAnnouncement

13/12/2023 09:00

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RNS Number : 6337W  DCI Advisors Limited  13 December 2023

DCI Advisors Ltd

(the "Company" or "DCI")

Shareholder Loan

 

13 December 2023

 

The Board of the Company has entered into another loan agreement for
€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"). Six 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 the
two Shareholder Loans that were announced on 6 October and 16 November
respectively 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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