Eight Capital Ptnrs. - Result of AGM

Eight Capital Partners

06/08/2021 14:15

RNS Number : 8975H

Eight Capital Partners PLC

06 August 2021

 

 

 

 

6 August 2021

Eight Capital Partners plc

("ECP", "Eight Capital" or "the Company")

 

 Result of Annual General Meeting

 

Eight Capital Partners plc (AQSE: ECP), the investing company whose investment strategy focuses on technology, media, telecoms and financial services businesses including listed investing companies, announces that at the Company's Annual General Meeting held earlier today, all resolutions were duly passed unanimously by the meeting. Proxies received by close of business on 4 August 2021 representing 29.4% of shares eligible to vote, were also overwhelmingly in favour of all resolutions, with between 99.97% and 100% in favour.

Commenting at the AGM,  ECP Chairman, Dominic White said:

"2020 was a year of consolidation for ECP. Looking at the current financial year and beyond, our strategy for the next phase of development of the Company is already looking very exciting. The  Board has been reviewing a number of investment opportunities within the financial services sector and recognises that those engaged in "Fintech" operations, the digitisation of banking services, through to blockchain-backed decentralised finance companies and crypto banks, are revolutionising the way that customers interface with financial services.  Companies that embrace this technology are likely to become market leaders within their chosen sectors.

"Within the existing strategy ECP is therefore re-energising its focus on financial services investments with particular attention being paid to fintech, financial services, banking digitisation and crypto banking themes. 

"We have very recently announced two such transactions, the first being the acquisition of financial services business, Innovative Finance Srl ("InnFin") whereby the Company has paid an initial €2.45m with a further potential earn-out of up €2.45m based on the achievement of financial performance targets, and the second being the successful monetisation through the disposal of our investment in Finance Partners Group SpA ("FPG"), an Italian financial services company, for €2.15 million. It was originally acquired as a receivable for €1.9 million in June 2019.

"Over and above these two latest transactions, the Board considers there to be potentially greater value creation for shareholders from the further aligning of the activities of our wholly owned financial services subsidiaries, Epsion Capital and InnFin  which worked closely on the transactions.  We expect them to deliver and develop other exciting transactions for the Company in the current year and beyond."

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
Dominic White
+44 20 3808 0029
info@eight.capital
Cairn Financial Advisers LLP
AQSE Corporate Adviser
Jo Turner / James Lewis
+44 20 7213 0880
Walbrook PR Limited
Paul Vann/Nicholas Johnson
+44 20 7933 8780
Paul.vann@walbrookpr.com

 

About Eight Capital Partners:

Eight Capital Partners plc is an international investing company whose investment strategy focuses on technology, media, telecoms and financial services businesses, including both privately-owned and listed entities. It has recently refined its strategy to focus increasingly upon investing in those businesses engaged in "Fintech" operations, from the digitisation of banking services, through to blockchain-backed decentralised finance companies and "crypto banks".

 

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 taking advantage of the increasing number of investment opportunities within the continuously developing global technology, media, telecoms and financial services sectors.

 

About 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 specialized across multiple markets, sectors and geographies and it prides itself on a commercial approach that allows the clients to achieve their growth ambitions. https://epsioncapital.com

 

About Innovative Finance:

InnFin, a corporate finance advisory business that 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 the USA, Switzerland and Italy which are linked to technological developments in the financial services industry, such as fintech payment service platforms and conversion of a traditional banking entity into a digitised "bank of the future".

 

www.eight.capital

 

 

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