Angelfish Investments Plc (“Angelfish” or “the Company”)
The Directors of Angelfish announce that the Company has entered into an agreement to provide a loan facility to Rapid Nutrition Plc (“Rapid”).
Rapid is a natural healthcare company focused on research, development and production of a range of life science and nutraceutical products. Rapid was established based on its successful and proven nutraceutical supplement range which is exported worldwide and offers consumers a growing range of health and well-being solutions to meet existing and emerging societal health concerns. Rapid is presently listed on the SIX Swiss Exchange, Zurich and has appointed corporate advisors with a view of working towards obtaining a listing in London.
The principal terms of the facility are as follows:
- The loan is in the amount of £150,000 which will be drawn down immediately
- The loan is interest bearing at 10% per annum until 28 February 2018 when it increases to 15% per annum if not converted by then
- The loan, plus rolled-up interest, is automatically convertible into Rapid ordinary shares immediately prior to an admission of Rapid ordinary shares to a listing on a recognised investment exchange as defined by the FCA (“Admission”), at a price of 13.32p per share, provided Admission occurs by 28 February 2018.
- Should Admission not occur by 28 February 2018, the loan will become secured over the assets of Rapid and repayable in instalments over the following 18 months and the rolled-up interest to 28 February 2018 will be payable on 31 March 2018.
- Should Admission occur after 28 February 2018, Angelfish is entitled to convert up to the original loan amount (excluding interest) into Rapid ordinary shares at 13.32p per share and interest due on the loan from 1 March 2018 will be payable monthly in arrears.
- The ordinary shares in Rapid arising from conversion will be subject to orderly market restrictions whereby Angelfish will consult with Rapid’s brokers before any disposal, for a period of six months from Admission.
Andrew Flitcroft, director of Angelfish commented: “We believe that Rapid represents an opportunity to invest in a life enhancing technology with significant potential and we are pleased to be able to support Rapid as it continues to develop its business. The Board of Angelfish intends to look for further similar funding opportunities in established growth companies as they offer the possibility of return on investment over a relatively short term period”.
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 take responsibility for this announcement.
Angelfish Investments Plc +44 (0)7769 591096
Cairn Financial Advisers LLP +44 (0)207 213 0880
NEX Exchange Corporate Adviser
David Coffman / Richard Nash
About Angelfish Investments plc
The Company’s Ordinary Shares and Preference Shares are admitted to trading on the NEX Exchange Growth Market in London. The Company has the trading symbol ANGP for its Ordinary Shares and the trading symbol ANGS for its Preferences Shares.