Eight Capital Ptnrs. - Shareholder Loan Facility
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

Dominic White - Executive Chairman

David Bull - Chief Executive Officer

 

+44 20 3808 0029

info@eight.capital

 

Cairn Financial Advisers LLP

AQSE Corporate Adviser

Jo Turner / James Lewis

 

 

+44 20 7213 0880

 

Walbrook PR Limited

Paul Vann/Nicholas Johnson

+44 20 7933 8780

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

 

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