Eight Capital Ptnrs. - Trading Update
16/09/2022 07:00
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RNS Number : 6804Z Eight Capital Partners PLC 16 September 2022
16 September 2022
EIGHT CAPITAL PARTNERS PLC
("Eight Capital", "ECP" or "the Group")
Trading Update
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, is pleased to announce that
the Group has received significant transaction fees for the provision of
advice for a recent listing.
In connection with its role in the transaction, the Group has earned fees,
principally relating to providing advice on the transaction and related
corporate finance activities, of £1,000,000. To date, more than half has
already been paid in cash, with the balance to be paid in cash over the next
few months.
The fees in connection with this transaction are greater than the Group's
revenue for the year to 31 December 2021 and provide the Group with
significant cash reserves to continue to develop the business. These fees
also represent a very significant proportion of the Group's revenues for the
year to date, with revenue for the first 6 months of 2022 having been modest
and derived mainly from management service agreements. Further details on
the Group's first half trading will be available in the Group's half-yearly
interim statement, which will be published shortly.
During the first half, ECP has in addition made further significant progress
towards transforming the Group's balance sheet with the objective of
consolidating and expanding its service offering as well as helping it to
develop a platform from which it can develop as a multi-faceted financial
services group, whilst at the same time providing a stronger base from which
it can raise third party capital. In this regard, the Company is pleased to
advise that, subject to regulatory approval, it is near to reissuing its
circular to shareholders in respect of seeking a waiver of obligations under
Rule 9 of the City Code on Takeovers and Mergers for the conversion of
existing debt into equity in ECP. A further announcement will be made in due
course.
For further information, please visit www.eight.capital or contact:
Eight Capital Partners plc +44 20 3808 0029
Dominic White info@eight.capital
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 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)
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/)
Innovative Finance:
Innovative Finance is 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 and Europe which are linked to
technological developments in the financial services industry, AI,
cybersecurity, e-commerce and cannabis. www.innovfinance.com
(http://www.innovfinance.com)
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