6 December
2024
Eight Capital Partners
plc
("ECP", "Eight Capital" or
"the Company")
1AF2 Bond
Sale
Eight Capital Partners plc (AQSE:
ECP), the financial services operating company that aims to build
shareholder value through the growth of businesses engaged in
"Fintech" operations including in the digital banking and lending
sectors, announces that, further to its announcement of 22 July
2024, it has signed a binding agreement to sell its holding in the
1AF2 Bond (the "1AF2 Bond") to SFE Equity Investments SARL ("SFE
EI") for an agreed price of EUR40 million.
SFE EI is a Luxembourg based
securitisation entity specialising in investments in public listed
companies and listed instruments. SFE EI is part of Société
Finanacière Européenne SA (together the "Group"), a finance
organisation that comprises a diversified group of European
investors which is controlled by The Avantgarde Group S.p.A, the
original issuer of the 1AF2 Bond.
Under the terms of the agreement,
the purchase price of the 1AF2 Bond is EUR40 million which the
Group has paid through the transfer of listed financial instruments
which can be liquidated over time. ECP also retains the
benefit of the security package currently in place over the 1AF2
Bond until the EUR40 million of financial instruments have been
liquidated.
The Directors believe that the sale
represents a positive step forward for the Company, providing
additional funding options for investment in the fintech sector and
strengthening its balance sheet through the addition of £20.4m of
net assets when compared to the Company's last published balance
sheet as a result of prior impairments to the value of the 1AF2
Bond by the same amount.
The Company will update the market
further in due course.
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.
For further information, please
visit www.eight.capital or contact:
|
Eight Capital Partners plc
Dominic White, Chairman
Luciano Maranzana, Group
CEO
|
info@eight.capital
|
|
Cairn Financial Advisers LLP
AQSE Corporate Adviser
Jo Turner / Liam Murray
|
+44 20
7213 0880
|
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|
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About Eight Capital Partners:
Eight Capital partners plc is a
financial services operating company that aims to grow revenue
through businesses engaged in "Fintech" operations including in the
digital banking and lending sectors.
ECP seeks to grow its group revenue
in these high growth fintech sub-sectors, which it expects to also
increase in value, such that they generate an attractive rate of
return for shareholders, predominantly through capital
appreciation.
www.eight.capital
Eight Capital Partners operates one subsidiary
business:
Epsion
Capital:
Epsion Capital is an independent
corporate advisory firm based in London with an extensive
experience in UK and European capital markets. The team of senior
and experienced ECM and M&A professionals is specialised across
multiple markets, sectors and geographies and it prides itself on a
commercial approach that allows the clients to achieve their growth
ambitions. www.epsioncapital.com
