24 June 2022
Eight Capital Partners plc
("ECP", "Eight Capital" or "the Company")
Result of Bondholder Meeting
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 at a meeting of the holders of the Company's EUR 7% Fixed Rate Bonds due 26 July 2022 ("the 7% Bonds") ("Bondholders") held today in
Specifically, the Extraordinary Resolution sought to align the 7% Bond terms with the more recently issued
· the maturity of the Bonds will be extended to 3 September 2026;
· the rate of interest applicable to the Bonds will be set to 4.8 per cent. per annum; and
· the interest payment date frequency will be increased to quarterly, being 3 March, 3 June, 3 September and 3 December in each year.
Following approval, Bondholders have been awarded warrants in aggregate to subscribe for 15,367,521,368 new ECP Ordinary shares being an amount equal to the par value of bonds held at the time of grant of the warrants divided by the
Commenting on the result of the General Meeting, Dominic White, Executive Chairman of ECP said:
"The Company has been successful in creating and utilising debt instruments to raise finance. Such instruments have been valuable in helping to build gross asset value. Thanks to the positive support of the holders of our 7% Bonds, we are able to take this exciting next step forward through our proactive balance sheet expansion, which underpins ECP's wider fintech growth plans."
Related Party Transaction
Dominic White, a director of the Company, is also a director and the beneficial owner of IWEP Limited, ECP's main shareholder. Pursuant to AQSE Rule 4.6, the restructuring, including the issuance of warrants to IWEP constitutes a related party transaction.
This announcement contains inside information for the purposes of the
Eight Capital Partners plc
Dominic White, Chairman
David Bull, CEO
+44 20 3808 0029
Cairn Financial Advisers LLP
AQSE Corporate Adviser
Jo Turner / James Lewis
+44 20 7213 0880
Walbrook PR Limited
Paul Vann/Nick Rome
+44 20 7933 8780
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.
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, and fintech sectors.
Eight Capital Partners operates two subsidiary businesses:
Epsion Capital is an independent corporate advisory firm based in
Innovative Finance is a corporate finance advisory business that sources and develops mergers and acquisitions and financing solutions across multiple sectors, primarily in