Eight Capital Ptnrs. - 1AF2 Bond Update
Announcement provided by
Eight Capital Partners Plc · ECP22/07/2024 13:00
![](https://tracker.live.rns-distribution.com/track.live-rns/5275956_d9353a075fe0b610698e373da828b7e4.png)
22 July 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, with further information below.
In August 2021, as noted in the Final Accounts for the year ended 31 December 2023 announcement published on 2 July 2024, Eight Capital purchased
At the time of issue of the Company's annual accounts earlier this month, the liquidation of the security package was not the issuer's intended method of repayment of the bond. The issuer has again confirmed to ECP that it remains their intention to fulfil all of their obligations from sources of capital other than the security package.
The Company has 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. The negotiations are advancing and ECP is optimistic of completing and executing a sale agreement in due course. TAG has proposed transferring
The Company is exploring all its options to ensure the best outcome for its shareholders. Should a sale not be finalised, the Company retains its rights to implement a recovery process through the security package with further recourse through the issuer's guarantor TAG.
The Company will keep the market apprised of developments.
The Directors of the Company accept responsibility for the content of this announcement.
This announcement contains inside information for the purposes of the
For further information, please visit www.eight.capital or contact:
Eight Capital Partners plc Dominic White, Chairman Luciano Maranzana, Group CEO
|
info@eight.capital
|
Cairn Financial Advisers LLP AQSE Corporate Adviser Jo Turner / Liam Murray
|
+44 20 7213 0880
|
|
|
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.
Eight Capital Partners operates two subsidiary businesses:
Epsion Capital:
Epsion Capital is an independent corporate advisory firm based in
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.