Eight Capital Ptnrs. - 1AF2 Bond Sale
06/12/2024 07:00
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RNS Number : 0571P Eight Capital Partners PLC 06 December 2024
6 December 2024
Eight Capital Partners plc
("ECP", "Eight Capital" or "the Company")
1AF2 Bond Sale
Eight Capital Partners plc (AQSE: ECP), the financial services operating
company that aims to build shareholder value through the growth of businesses
engaged in "Fintech" operations including in the digital banking and lending
sectors, announces that, further to its announcement of 22 July 2024, it has
signed a binding agreement to sell its holding in the 1AF2 Bond (the "1AF2
Bond") to SFE Equity Investments SARL ("SFE EI") for an agreed price of EUR40
million.
SFE EI is a Luxembourg based securitisation entity specialising in investments
in public listed companies and listed instruments. SFE EI is part of Société
Finanacière Européenne SA (together the "Group"), a finance organisation
that comprises a diversified group of European investors which is controlled
by The Avantgarde Group S.p.A, the original issuer of the 1AF2 Bond.
Under the terms of the agreement, the purchase price of the 1AF2 Bond is EUR40
million which the Group has paid through the transfer of listed financial
instruments which can be liquidated over time. ECP also retains the benefit
of the security package currently in place over the 1AF2 Bond until the EUR40
million of financial instruments have been liquidated.
The Directors believe that the sale represents a positive step forward for the
Company, providing additional funding options for investment in the fintech
sector and strengthening its balance sheet through the addition of £20.4m of
net assets when compared to the Company's last published balance sheet as a
result of prior impairments to the value of the 1AF2 Bond by the same amount.
The Company will update the market further in due course.
This announcement contains inside information for the purposes of the UK
Market Abuse Regulation and the Directors of the Company are responsible for
the release of this announcement.
For further information, please visit www.eight.capital or contact:
Eight Capital Partners plc info@eight.capital
Dominic White, Chairman
Luciano Maranzana, Group CEO
Cairn Financial Advisers LLP +44 20 7213 0880
AQSE Corporate Adviser
Jo Turner / Liam Murray
About Eight Capital Partners:
Eight Capital partners plc is a financial services operating company that aims
to grow revenue through businesses engaged in "Fintech" operations including
in the digital banking and lending sectors.
ECP seeks to grow its group revenue in these high growth fintech sub-sectors,
which it expects to also increase in value, such that they generate an
attractive rate of return for shareholders, predominantly through capital
appreciation.
www.eight.capital (http://www.eight.capital)
Eight Capital Partners operates one subsidiary business:
Epsion Capital:
Epsion Capital is an independent corporate advisory firm based in London with
an extensive experience in UK and European capital markets. The team of senior
and experienced ECM and M&A professionals is specialised across multiple
markets, sectors and geographies and it prides itself on a commercial approach
that allows the clients to achieve their growth ambitions.
www.epsioncapital.com (http://www.epsioncapital.com/)
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