Share Name Share Symbol Market Type Share ISIN Share Description
Angelfish Investments plc NEX:ANGP NEX Ordinary Share GB00B28HZ894
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 0.025 0.02 0.04 0.025 0.025 0.025 0.00 07:45:22
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Angelfish Investments Plc Loan Agreement

11/04/2019 7:00am

UK Regulatory (RNS & others)


 
TIDMANGP 
 
11 April 2019 
 
                           Angelfish Investments Plc 
                        ("Angelfish" or "the Company") 
 
                                Loan Agreement 
 
The Directors of Angelfish announce the following update on its investment in 
Wallet Ads Limited ("Wallet Ads"). 
 
On 9 August 2018, Angelfish announced that it had subscribed for GBP150,000 
convertible loan notes issued by Wallet Ads to be drawn down in six monthly 
instalments, one of GBP50,000, followed by five equal instalments of GBP20,000. 
The loan was subsequently converted into equity representing 20% of the 
ordinary share capital of Wallet Ads following drawn down of the final 
instalment on 31 December 2018, as announced on 2 January 2019. 
 
Angelfish has now entered into an agreement to provide a secured revolving loan 
facility to Wallet Ads, the principal terms of which are as follows: 
 
  * The facility is in the amount of GBP100,000 and can be drawn down in tranches 
    on request subject to a minimum tranche size of GBP10,000. 
 
  * The loan is supported by a full fixed and floating debenture over the 
    assets and undertaking of Wallet Ads. 
 
  * The loan is repayable no later than 31 January 2021. 
 
  * Interest accrues at the rate of 10% p.a. calculated on amounts drawn down 
    on a daily basis and payable monthly in arrears. 
 
  * No interest is payable until Wallet Ads reaches monthly cash flow break 
    even, with amounts accrued but unpaid to that point payable on or before 
    repayment of the loan 
 
Richard Walker, director of Angelfish commented: "We have been encouraged by 
the progress Wallet Ads has made to date and in line with our agreement last 
year recognise the need for this facility to support Wallet Ads over the coming 
months as it commences full commercial operations. We look forward to 
continuing to work closely with the Wallet Ads team to support this next stage 
of the company's development" 
 
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. 
 
=-ENDS- 
 
Enquiries: 
 
Angelfish Investments Plc +44 (0)7772 013116 
Richard Walker 
Director 
 
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 Preference 
Shares. 
 
 
 
END 
 

(END) Dow Jones Newswires

April 11, 2019 02:00 ET (06:00 GMT)

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