Eight Capital Ptnrs. - 1AF2 Bond Update
22/08/2024 10:30
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RNS Number : 4372B Eight Capital Partners PLC 22 August 2024
22 August 2024
Eight Capital Partners plc
("ECP", "Eight Capital" or "the Company")
1AF2 Bond Update
Eight Capital Partners plc (AQSE: ECP), the financial services operating
company that aims to grow revenue through businesses engaged in "Fintech"
operations including in the digital banking and lending sectors, announces an
update to the repayments owed to the Company by 1AF2 Limited ("1AF2") relating
to the bonds purchased in 2021.
The Company announced on 22 July 2024 that it had received a proposal from
1AF2 and TAG to acquire the 1AF2 Bond from ECP at par value with settlement in
cash, public securities and private assets and that TAG proposed to transfer
EUR 4 million of assets to ECP as additional security while this process
completes.
The negotiations have advanced and EUR 4 million of listed bond assets have
been transferred to ECP as additional security while the transaction is
executed. The proposal announced on 22 July has been re-confirmed and the
Company now awaits a first cash payment at which point it would simultaneously
execute the settlement agreement.
The Company expects the settlement agreement for be executed shortly and it
will keep the market apprised of developments.
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 two subsidiary businesses:
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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