(“Angelfish” or “the Company”)
Update on Investment
The Directors of Angelfish announce that
Angelfish invested £650,000 for a 35% stake in YBOO and in addition provided £1,020,181 by way of a secured working capital loan.
Whilst YBOO has substantially completed its technology and generated some initial revenues, it has not achieved full commercialisation as quickly as anticipated. The directors of YBOO attempted to raise the additional funds needed to complete the development stage and move into full revenue generation however this has proved unsuccessful. With no immediate prospect of YBOO obtaining new funding, Angelfish issued a formal demand for repayment of its loan under the terms of the debenture and this has resulted in the appointment
The Directors of Angelfish will assist Quantuma to achieve a favourable outcome from the administration and further updates will made in due course.
The directors of the Company take responsibility for this announcement.
Angelfish Investments Plc Richard Walker+44 (0)7772 013116 NEX Exchange Corporate Adviser Cairn Financial Advisers LLP David Coffman+44 (0)207 213 0880
The Company's Ordinary Shares and Preference Shares are admitted to trading on the NEX Exchange Growth Market in