REG - DCI Advisors Ltd - Shareholder Loans & Related Party Transactions

DCI AdvisorsAnnouncement

16/05/2025 16:30

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RNS Number : 0805J  DCI Advisors Limited  16 May 2025

DCI Advisors Ltd

(the "Company" or "DCI")

Further Shareholder Loans and Related Party Transactions

 

16 May 2025

 

The Board of the Company has entered into two additional loan agreements for
in aggregate €125,000 with a DCI shareholder to provide additional working
capital to the Company (the "Shareholder Loan").  As of today, the Company
has 11 loans outstanding from different shareholders amounting to
approximately €2.8 million. As previously announced, the first loan was made
before September 2023 had identical terms to others drawn at that time (other
than their date of initiation and currency of denomination) and was for a
12-month term bearing an interest rate of 12 per cent. p.a., with no fees
payable on disbursement or repayment. The ten Shareholder Loans made after
September 2023 have identical terms with the previous loans, except that there
is no right of prepayment by the Company and they therefore last 12 months.
The Company's intention is to repay all outstanding Shareholder Loans from the
proceeds of the sale of Company assets.

 

Related Party Transaction

 

The new Shareholder Loan agreement for €100,000 has been entered into with
Nick Paris who is a co-Managing Director of the Company and who controls 0.18%
of the issued share capital of the Company. Accordingly, the entering into of
this Shareholder Loan agreement with him is deemed to be a related party
transaction pursuant to Rule 13 of the AIM Rules for Companies.

 

A new Shareholder Loan agreement for €25,000 was also entered into with Nick
Paris on 12 February 2025. The entering into of this Shareholder Loan
agreement with him is also deemed to be a related party transaction pursuant
to Rule 13 of the AIM Rules for Companies.

 

The Company is also amending the terms of the first Shareholder Loan agreement
entered into with Nick Paris in April 2024, to extend the original 12 month
settlement period by six months to 15 October 2025. The amending of the terms
of the April 2024 Shareholder Loan agreement with Nick Paris is also deemed to
be a related party transaction pursuant to Rule 13 of the AIM Rules for
Companies.

 

The Company's directors (excluding Nick Paris) consider, having consulted with
the Company's Nominated Adviser, Cavendish Capital Markets Limited, that the
terms of the Nick Paris Shareholder Loan agreements, as described above, and
the amendment to the terms of the 2024 Shareholder Loan agreement with Nick
Paris are fair and reasonable insofar as the shareholders are concerned.

 

As previously announced, collateral in the form of security over certain
Company assets will be 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
all Shareholder Loans received to date. A further announcement will be made
once the Company has entered into the new security agreements.

 

 

Enquiries

 DCI Advisors Ltd

 Nicolai Huls , Managing Directors                                             n.huls@pbbresearch.com

                                                                               + 316 156057 45
 Cavendish Capital Markets (Nominated Adviser & Broker)

 Jonny Franklin-Adams / Edward Whiley / Oscar Valeur-Adu (Corporate Finance)

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

                                                                             (mailto:noxley@fim.co.im)
 Lesley Lennon / Nick Oxley (Corporate Governance)

 

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