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 07:55:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
- - - -

Angelfish Investments Plc Update on Investment

01/10/2019 12:49pm

UK Regulatory (RNS & others)


 
TIDMANGP 
 
Angelfish Investments Plc 
                        ("Angelfish" or "the Company") 
 
                             Update on Investment 
 
                                1 October 2019 
 
The Directors of Angelfish announce that YBOO Limited ("YBOO"), a technology 
company which owns and operates a UK mobile app which enables to determine 
which mobile network and tariff is best for them, has been placed into 
administration. 
 
Angelfish invested GBP650,000 for a 35% stake in YBOO and in addition provided GBP 
1,020,181 by way of a secured working capital loan. 
 
Whilst YBOO has substantially completed its technology and generated some 
initial revenues, it has not achieved full commercialisation as quickly as 
anticipated.  The directors of YBOO attempted to raise the additional funds 
needed to complete the development stage and move into full revenue generation 
however this has proved unsuccessful.  With no immediate prospect of YBOO 
obtaining new funding, Angelfish issued a formal demand for repayment of its 
loan under the terms of the debenture and this has resulted in the appointment 
Simon Bonney and Michael Kiely of Quantuma LLP ("Quantuma") as Joint 
Administrators to YBOO. 
 
The Directors of Angelfish will assist Quantuma to achieve a favourable outcome 
from the administration and further updates will made in due course. 
 
The directors of the Company take responsibility for this announcement. 
 
                                   --ENDS-- 
 
Enquiries: 
 
Angelfish Investments Plc 
Richard Walker                           +44 (0)7772 013116 
 
NEX Exchange Corporate Adviser 
Cairn Financial Advisers LLP 
David Coffman                            +44 (0)207 213 0880 
 
 
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

October 01, 2019 07:49 ET (11:49 GMT)

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