Eight Capital Ptnrs. - Shareholder Loan Facility
24/12/2021 09:18
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RNS Number : 7572W Eight Capital Partners PLC 24 December 2021
24 December 2021
Eight Capital Partners plc
("ECP", "Eight Capital" or "the Company")
New £0.5 million Shareholder Loan Facility
Eight Capital (AQSE: ECP), the financial services fintech operating group that
aims to source and deliver tech, fintech and other on-trend-sector
transactions, has entered into a £0.5 million unsecured loan facility ("the
Loan Facility") with its main shareholder IWEP Limited ("IWEP").
The Loan Facility has an initial term of twelve months with interest payable
at an annualised rate of 4.5% and is available for immediate drawdown. The
facility can be repaid at any time during the term. At term the facility is
repayable on demand.
The Loan Facility will provide the Company with working capital to fund the
execution of its fintech growth strategy as detailed in its RNS announcement
of 27 September 2021.
It is intended that the Loan Facility will be repaid by the raising of new
equity capital and the issue of other securities by the Company in stages, in
the short-term. This may include an equity placing via an open offer to all
shareholders. Warrants and/or other securities may also be included in the
capital raise.
Related Party Transaction
Dominic White, a director of the Company, is also a director and the
beneficial owner of IWEP. Pursuant to AQSE Rule 4.6, the Loan Facility
provided by IWEP to the Company therefore constitutes a related party
transaction.
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.
Enquiries:
Eight Capital Partners plc +44 20 3808 0029
Dominic White - Executive Chairman info@eight.capital
David Bull - Chief Executive Officer
Cairn Financial Advisers LLP +44 20 7213 0880
AQSE Corporate Adviser
Jo Turner / James Lewis
Walbrook PR Limited +44 20 7933 8780
Paul Vann/Nicholas Johnson 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 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 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, media, telecoms and financial
services sectors. www.eight.capital (http://www.eight.capital)
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