TIDMECP

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 GBP1,500 (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 GBP95,000 into Epsion at nominal value to increase the total issued share capital of Epsion to GBP100,000. 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:                  +44 (0) 20 7469 0930 
  Dominic White                                 info@eight.capital 
 Cairn Financial Advisers LLP 
  NEX Exchange Corporate Adviser 
  Jo Turner / David Coffman                       +44 20 7213 0880 
 
   Financial PR:                               +44 (0)207 812 0645 
   Abigail Stuart-Menteth             eightcapitalplc@damsonpr.com

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

NEXUSOORKVAARAA

(END) Dow Jones Newswires

November 04, 2019 08:37 ET (13:37 GMT)

Eight Capital Partners (AQSE:ECP)
Historical Stock Chart
From Nov 2024 to Dec 2024 Click Here for more Eight Capital Partners Charts.
Eight Capital Partners (AQSE:ECP)
Historical Stock Chart
From Dec 2023 to Dec 2024 Click Here for more Eight Capital Partners Charts.