Angelfish Investments Plc (“Angelfish” or “the Company”)
The Directors of Angelfish announce that the Company has entered into an agreement to provide an unsecured loan facility to X Markets Group Limited (“XMG”). The principal terms of the facility are as follows:
• The loan is in the amount of £100,000 which will be drawn down immediately
• The loan is supported, up to a maximum liability of £100,000, by a personal guarantee from the sole director of XMG
• The loan is repayable no later than two years after drawdown:
o If the loan is repaid in the first 12 months from drawdown, XMG will repay the loan in full plus an additional amount equal to 100% of the loan
o If the loan is repaid in the second 12 months from drawdown, XMG will repay the loan in full plus an additional amount equal to 200% of the loan.
In addition, the loan agreement entitles Angelfish to receive, on the earlier of the second anniversary of the date of the agreement or the date of repayment of the loan, such number of ordinary shares that shall equate to five per cent. of the then issued share capital of XMG, taking into account shares then in issue and shares then agreed, proposed or intended to be issued, including conversion or subscription rights granted but not yet exercised.
XMG provides non-bank liquidity offering executable prices for a variety of mainly spot products which includes CFDs, FX, futures and equities. It streams prices to its clients who are forex and CFD brokers as well as tier-1 & tier-2 banks, brokers and other financial institutions (and exchanges) for their own clients’ order execution. XMG will use the funds from the loan for working capital purposes to develop its business.
Richard Walker, director of Angelfish commented: “We believe that XMG represents an exciting investment opportunity, with strong potential returns and an ongoing equity position, as we expand our portfolio. We look forward to working closely with the XMG team over the coming months.”
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.