Eight Capital Ptnrs. - Update on Investment
RNS Number : 1892S
Eight Capital Partners PLC
04 November 2019
 

Eight Capital Partners Plc

 ("Eight Capital" or the "Company")

 Update on Investment

The Directors are pleased to announce that Eight Capital has acquired an additional 30% stake in its investee company Epsion Capital Ltd ("Epsion") taking its stake in Epsion to 100%. The shares were acquired for £1,500 (being their nominal value) from Eight Capital Director John Treacy and is therefore a Related Party Transaction in accordance with the NEX Exchange Growth Market Rules for Issuers

In addition, Eight Capital has invested a further £95,000 into Epsion at nominal value to increase the total issued share capital of Epsion to £100,000.  This investment supports Epsion's planned application to the FCA for full regulatory status (Epsion is currently an Appointed Representative of Vicarage Capital), and, is considered a pre-requisite to transacting with some of the larger financial institutions on the Continent. 

Epsion's strategy is to expand its financial services activities into Europe, through organic growth or acquisition, and this reorganization of share capital is a step towards that growth.   

This announcement contains information which, prior to its disclosure, was inside information for the purposes of Article 7 of EU Regulation 596/2014. 

The directors of the Company accept responsibility for the contents of this announcement.

 

- ENDS -

 

For further information, please contact: 

Eight Capital Partners Plc:

Dominic White

 

+44 (0) 20 7469 0930

info@eight.capital

Cairn Financial Advisers LLP

NEX Exchange Corporate Adviser

Jo Turner / David Coffman

 

+44 20 7213 0880

 

 

Financial PR:

Abigail Stuart-Menteth

 

+44 (0)207 812 0645

eightcapitalplc@damsonpr.com

 

 

 


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