Eight Capital Ptnrs. - Notice of Bondholder Meeting
01/06/2022 11:24
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RNS Number : 5768N Eight Capital Partners PLC 01 June 2022
1 June 2022
Eight Capital Partners plc
("ECP", "Eight Capital" or "the Company")
Notice of Meeting
of the holders of the Company's EUR 8,990,000 7% Fixed Rate Bonds 26 July 2022
Eight Capital Partners plc (AQSE: ECP), the financial services operating
company that aims to grow revenue through businesses engaged in "Fintech"
operations, from the digitisation of banking services, through to
blockchain-backed disruptive finance companies, announces that, further to its
RNS of 23 May and at the request of a number of investors as part of the next
steps in its proactive balance sheet reorganisation, a notice of meeting of
the holders of the Company's EUR 7% Fixed Rate Bonds due 26 July 2022 ("the 7%
Bonds") has been distributed today.
The notice in the form of a Consent Solicitation Memorandum (the "Memorandum")
and as described in the bond agreements, requests bondholders to consider and,
if thought fit, approve a proposal to modify the terms and conditions of the
7% Bonds by way of an extraordinary resolution. The meeting is scheduled to
be held at 50 Sloane Square, London, SW3 3DD at 10 am on Thursday 23 June
2022.
The extraordinary resolution to be put to bondholders seeks to align the 7%
Bond terms with the more recently issued €25m 4.8% ECP Bonds due 3 September
2026. More specifically approval will be sought for:
· the maturity of the Bonds to be extended to 3 September 2026;
· the rate of interest applicable to the Bonds to be set to 4.8 per
cent. per annum; and
· the interest payment date frequency to be increased to 3 March, 3
June, 3 September and 3 December in each year.
Should the changes be approved, bondholders will also be awarded warrants to
subscribe for new ECP shares in an amount equal to the par value of bonds held
at the time of grant of the warrants divided by the 0.0005 GBP strike price of
the warrant. The duration of the warrants will be one year from the
implementation date. They will be fully transferrable.
The Company looks forwards to updating shareholders with the result of the
bondholder meeting once it becomes available.
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.
Eight Capital Partners plc +44 20 3808 0029
Dominic White, Chairman info@eight.capital
David Bull, CEO
Cairn Financial Advisers LLP +44 20 7213 0880
AQSE Corporate Adviser
Jo Turner / James Lewis
Walbrook PR Limited +44 20 7933 8780
Paul Vann/Nick Rome Paul.vann@walbrookpr.com
About Eight Capital Partners:
Eight Capital Partners plc is an international financial services operating
company focused on owning and operating businesses engaged in "Fintech"
operations, from the digitisation of banking services, through to
blockchain-backed decentralised finance companies.
ECP provides equity, debt, and equity-related investment capital to companies
seeking capital for growth and development, consolidation or acquisition, or
pre-IPO financing. The Company seeks to generate an attractive rate of return
for shareholders, predominantly through capital appreciation, by maximising
the revenues, profits and value of its operating subsidiaries, and taking
advantage of the increasing number of acquisition opportunities within the
continuously developing global technology, and fintech sectors.
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 company is
specialised in ECM, DCM, structured investment facilities, and M&A across
multiple markets, sectors and geographies. It prides itself on a commercial
approach that enables its clients to achieve their growth ambitions.
www.epsioncapital.com (http://www.epsioncapital.com/)
Innovative Finance:
Innovative Finance is a corporate finance advisory business that sources and
develops mergers and acquisitions and financing solutions across multiple
sectors, primarily in Europe, with access to international transactions. It is
currently working on transactions in North America and Europe which are linked
to technological developments in the financial services industry, e-commerce
and cannabis. www.innovfinance.com (http://www.innovfinance.com)
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