REG - Dolphin Capital Inv - Shareholder Loans and Related Party Transaction

DCI AdvisorsAnnouncement

19/04/2023 07:00

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RNS Number : 6561W  Dolphin Capital Investors Limited  19 April 2023

Dolphin Capital Investors Limited

(the "Company" or "DCI")

Shareholder Loans

and

Related Party Transaction

 

19 April 2023

 

The Board of the Company has entered into the first two of a number of loan
agreements with DCI shareholders which are intended to provide additional
working capital to the Company, and which are expected to amount to up to
€2.0 million in aggregate (the "Shareholder Loans" or "Shareholder Loan
Agreements"). One of the loans amounting to €350,000 has now been advanced
to the Company. These Shareholder Loans will each have identical terms to one
another (other than their date of initiation), 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 Shareholder
Loans from the proceeds of the sale of Company assets. If the Shareholder
Loans have not been repaid within six months from initiation, collateral in
the form of security over certain Company assets will be put in place which
would exceed the aggregate value of the loans.

 

Related Party Transaction

 

One of the above Shareholder Loan Agreements, for €350,000 in total, has
been entered into with Discover Investment Company ("DIC"). Nicolai Huls,
Managing Director of the Company, is also a Director of DIC. Accordingly, the
entering into of the Shareholder Loan Agreement with DIC is deemed to be a
related party transaction pursuant to AIM Rule 13 of the AIM Rule for
Companies. The Company's directors (excluding Nicolai Huls) consider, having
consulted with the Company's Nominated Adviser, finnCap Limited, that the
terms of the DIC Shareholder Loan Agreement are fair and reasonable insofar as
the shareholders are concerned.

 

Enquiries

 Dolphin Capital Investors

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

                                                                          +44 (0) 7738 470550
 finnCap (Nominated Adviser & Broker)

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

                                                                        +44 (0) 20 7220 0500
 Mark Whitfeld / Pauline Tribe (Sales)
 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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